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03-01-2018, 05:16 PM #1
- Join Date
- Aug 2017
- Posts
- 405
Tradebloc
I was recently introduced to company called Tradebloc that does credit repair.
They told me I could private label all of their docs charge me a flat fee per client i refer to them and up sell from that flat fee with pretty attractive commissions. They do all the back office work and can fix a clients credit typically inside 90 days and all of the work is pretty much done in 24 hours after receiving the clients info. I would have to get bonded in my own state in order to do this.
Another service they told me about which I had me a little uneasy about was a service called Tradebloc which basically can block a negative account that goes into default by showing up on an individuals credit report. He pretty much explained it to me by saying if a client defaults on a cash advance this service will put a block on the persons credit report from showing up.
Thoughts?? Anyone work with this company before???
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03-01-2018, 06:04 PM #2
- Join Date
- Feb 2017
- Posts
- 3,427
For everyone out there, that was me. People who know me can vouch for my honesty over here. If I say he's an honest person, that should help.
What I will tell everyone is that recently Tradebloc took on the role of being the credit repair for Quicken Loans. He's doing $500k/month. He's doing me the favor by taking on new ISOs under me.
As far as the Trade Block section, Tim (the CEO) doesn't understand much about MCAs. I'm the one who explained it to him. Tim told me that the block prevents the default from appearing as a "late" payment on the report, but he can't stop a judgement from showing up! Which means that nothing will happen. With MCAs, lines never go on personal credit reports (even after default, unlike a business credit card) - just the judgements. Trade Block was designed for people who get convinced to go into timeshare agreements and go to lawyers to get out of them... the timeshare companies hit the guy's credit HARD.
As far as judgement removal, anyone can do that. The lender has to know the industry well to know if there was an old judgement or not and not just rely on a credit report.
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03-01-2018, 07:20 PM #3
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,950
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial