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03-16-2018, 09:21 AM #1
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- Sep 2017
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- 11
Defaulted Merchant!
I dislike when you find out the merchant defaults and the scumbag ISO get's pissed and tells you he won't submit to you anymore because I didn't fund the merchant.
And they always say "yeah we'll just take it to Yellow." as if!
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03-16-2018, 09:24 AM #2
- Join Date
- Jun 2017
- Posts
- 2,049
A few lenders will fund defaulted merchants
IMO - Hurricaine Harvey should not be a default. If they missed payments and adjusted after Harvey.... use your head - he is a good Merchant it is an act of god.
I HATE underwriters who can't think. Its like they are robots stuck on an algorithm, no outside thinking or reasoning.
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03-16-2018, 09:32 AM #3
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- Sep 2017
- Posts
- 11
That's obviously not the case. He still owes the mca company. no plan to pay back
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03-16-2018, 10:32 AM #4
- Join Date
- Dec 2016
- Location
- Brooklyn N.Y.
- Posts
- 428
Midnight will fund.
High risk paper
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03-16-2018, 10:43 AM #5
For an ISO to get emotional over a single file is indicative of their weak deal flow.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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03-16-2018, 10:49 AM #6Karen37aGuest
I caught a merchant who switched banks...
and another who defaulted on 3 companies and change their companies name
We KILLED the files last week it and then we got backdoored and it funded
I called up both funders saying if you want more of this shiaTe just ask...I wouldnt have killld it
** they didnt know it had defaulted and funded it....they are going to default againLast edited by Karen37a; 03-16-2018 at 10:52 AM.
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03-16-2018, 11:15 AM #7
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- Jun 2017
- Posts
- 2,049
Karen, You have said **** like this before. How you "won't do this deal that deal" or "I killed it"
As a Broker, these terms don't exist for me. I will never turn away a File (except if i can tell it is blatant Fraud)
There are Options Out there. Even Past Yellowstone.... YS used to be the last stop... Now.... just about any file can get an offer of SOMETHING
Midnight, Corporate Capital, East Shore Equities. 2Xist. All Fund Defaulted Merchants. High Rate, Short Term. Rebuild a Payment History.
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03-16-2018, 01:32 PM #8Karen37aGuest
Yes I know who takes in defaulted deals for 30 days @ 50%
If i know they are going to default again because they tell me it on the phone I do not STICK them with the deal.
Those companies will give someone ONE shot...and they do not want deals that say they are defaulting again.
TRust me I had a merchant or 3 tell me corp turnaround ...shut the banks down as soon as they get the money and i declined it then it funded.
True to their word they closed the banks down right after funding. I am glad I wasnt involved in it.
Everyone can run their business how they want to.Last edited by Karen37a; 03-16-2018 at 01:34 PM.
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03-16-2018, 04:05 PM #9
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03-19-2018, 10:14 AM #10
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- Jun 2017
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03-16-2018, 01:30 PM #11
- Join Date
- Dec 2013
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- 4,713
Mantis will always bend-an-ear to hear the real story.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
——————————————————————————
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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03-16-2018, 01:36 PM #12Karen37aGuest
Also when you are a super iso with isos under you or brokers; you will pay out the commission and never see the broker again, then you get the clawback, so again to each their own.
Come play around with some brokers in the florida area ....they bankrupted 7 isos...like termites they ate them up from the inside out
Dont know if they are doing that in NY...like a swarm ...taking salaries for 90 days ...bad paper and they move on to the next or make a basement iso then curse me out on the df from a shill name.
I never had a clawback ever or massive defaults and I plan on keeping it that way.Last edited by Karen37a; 03-16-2018 at 02:02 PM.
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03-16-2018, 02:31 PM #13
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- Jun 2017
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03-16-2018, 02:56 PM #14
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- Jun 2015
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- 3,325
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03-16-2018, 04:50 PM #15
Are there really funders who will fund defaults?? I usually delete these files from my entire system.
I had one die this afternoon due to a recent judgement for default.Sean Hawley
CEO
BLF
Bright Light Freight
shawley@brightlightfreight.com.com
631-210-6327
SBA, Term Loans, LOC, MCA & Equipment Finance (Transportation & Trucking)
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03-19-2018, 10:15 AM #16
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- Jun 2017
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03-19-2018, 11:46 AM #17
- Join Date
- May 2017
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- 122
Isaac N Mizrahi
ISO Relations Manager | SPG Advance, LLC
Office: 212-225-8279
Mobile: 323-617-1397
Email: Isaac@SPGAdvance.com
www.SPGAdvance.com
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03-20-2018, 12:12 AM #18
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- Dec 2015
- Posts
- 616
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03-20-2018, 09:06 AM #19
- Join Date
- Jun 2017
- Posts
- 2,049
Because the Screen Share was Orchestrated almost perfectly.
Imagine all the effort to make a fake website/login clone a bank page. I understand computers so it was legit AF.
They switched ther IP Queries/LocalHost to host the bank website, then altered the code to display the fake statements they submitted.
The amount of time it must of took is crazy
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03-20-2018, 09:46 AM #20
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- Oct 2016
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- 4,318
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03-20-2018, 10:09 AM #21Karen37aGuest
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03-20-2018, 10:37 AM #22
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- Oct 2016
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03-20-2018, 12:59 PM #23
- Join Date
- Aug 2017
- Location
- New York City
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- 199
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03-26-2018, 11:42 PM #24
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- Dec 2015
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- 616
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03-20-2018, 10:17 AM #25Karen37aGuest
And i almost thought that the girl giggling that she had stolen files/leads...then posted an ad for isos was her
And its a guess
Now lets all talk about rate and algorithms and why isos are a dime a dozen and 100 uccs to close
* Some isos/closers are blasting thru massive bad paper, blocking it from going to our fundersLast edited by Karen37a; 03-20-2018 at 10:20 AM.
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