[capfront]

Is this possible, or would touching it in any way be a breach of the agreement? I don't want to hurt my merchant, and he has a reverse consolidation contract and it's sort of confusing when you get down to details. I know straight up stacking it would be a no-go, but he's getting debt-trapped by the reverse consolidator and I'd really hate to have to tell him going back to them is his only option...

[ryan $]

You can buyout A reverse

[CraaaCraaa Radio]

Is this possible, or would touching it in any way be a breach of the agreement? I don't want to hurt my merchant, and he has a reverse consolidation contract and it's sort of confusing when you get down to details. I know straight up stacking it would be a no-go, but he's getting debt-trapped by the reverse consolidator and I'd really hate to have to tell him going back to them is his only option...

Who is the funder?

[ryan $]

Especially if the weekly deposits stopped, thats easy. Its just a balance.

[capfront]

since the reverse consolidator doesnt actually give all the funds up front...if they stop the weekly payments because of a stack would the merchant just owe based on what was given to them plus fee/interest (whatever) or do they automatically owe the full amount? Based on what they've given him it would be fine to buy them out, but it seems like technically we would have to have the total payback bought out, which wouldn't work...

[AdvanceFund]

since the reverse consolidator doesnt actually give all the funds up front...if they stop the weekly payments because of a stack would the merchant just owe based on what was given to them plus fee/interest (whatever) or do they automatically owe the full amount? Based on what they've given him it would be fine to buy them out, but it seems like technically we would have to have the total payback bought out, which wouldn't work...

Incorrect. You can buy-out a reverse.

[CraaaCraaa Radio]

since the reverse consolidator doesnt actually give all the funds up front...if they stop the weekly payments because of a stack would the merchant just owe based on what was given to them plus fee/interest (whatever) or do they automatically owe the full amount? Based on what they've given him it would be fine to buy them out, but it seems like technically we would have to have the total payback bought out, which wouldn't work...

Depending on funder this would be a pure default for the stack!!!!

This is why I asked what funder?

[Sachip24]

if would go based on amount that has been funded up until that date for a buyout. But they will clawback on ISO on any commissions paid on full amount of loan. if merchant buys it out earlier then designated time frame.

[ryan $]

if would go based on amount that has been funded up until that date for a buyout. But they will clawback on ISO on any commissions paid on full amount of loan. if merchant buys it out earlier then designated time frame.

Who pays out all up front on a reverse?

Don't most pay as the months go? For this specific reason.

[mcaguru]

anyone know if a "reverse consolidation funder" was sued by a merchant and has their contract stood up to the test ? ?

[ADiamond]

anyone know if a "reverse consolidation funder" was sued by a merchant and has their contract stood up to the test ? ?

sued for what reason?

[mcaguru]

for what reason lol ...not wanting to pay and got some lawyer to punch holes in agreement >? i am only asking if this took place yet ?? i am not saying there are holes to punch i am simply asking if this was ever on the record challenged ?

[ADiamond]

for what reason lol ...not wanting to pay and got some lawyer to punch holes in agreement >? i am only asking if this took place yet ??

oh, i was just asking if you were referring to being sued for a specific reason like usury or something as other funders have experienced, because that would be a real ****ty merchant to do that to someone who actually tried helping them.

sure the reverse consolidation funder is still charging 1.499 + fees, but why not? they deserve it of all people if the first 3-4 funders did the same thing and the last guy is helping AND holding the bag.

[mcaguru]

any company that deals with thousands of transaction will get familiar with the court rooms... its the way America has turned into ...my grandfather ran an extremely large enterprise from 1950-84 and never had a lawsuit but America has changed.... If you plan on funding your going to need strong legal .... the issue is when you get pounded in legal defenses the first few months funding toppled by poor underwriting and you can end up being a Walmart greeter.....

[RickyR3712]

I had a merchant that renewed with his old positions and did not get the issue since daily did not change.Not sure what happened at end.