[wallerbusiness]

I have been recently contacted by Lead Brokers over the last 6 months. They dont just have 10 or 15 apps and banking, THEY HAVE THOUSANDS! THATS CRAZY!!!! They are selling dated Applications and Banking Docs from As Recent as 2 months to 36 months. This is a false way of running a business. Its not a sustainable business model. MCA world we have to do better. Learn the skill and art of sales. Don't cheat yourself. - WALLER

[J.Celifarco]

i have been recently contacted by lead brokers over the last 6 months. They dont just have 10 or 15 apps and banking, they have thousands! Thats crazy!!!! They are selling dated applications and banking docs from as recent as 2 months to 36 months. This is a false way of running a business. Its not a sustainable business model. Mca world we have to do better. Learn the skill and art of sales. Don't cheat yourself. - waller

truth

[Sachip24]

We had a stranger literally pop into our office with a bookbag about 6 months ago filled with recent applications. He had about 2,000 recent apps was going around from shop to shop selling them for $3 a piece.

[ridextreme]

We had a stranger literally pop into our office with a bookbag about 6 months ago filled with recent applications. He had about 2,000 recent apps was going around from shop to shop selling them for $3 a piece.

You could have gotten this guy at least 20 years. Do you realize it's a felony for each social he is trying to sell?

Next time have him take a seat, make him some coffee, and tell him your boss is on the way with the money then slip away and call the fuzz.

[Kevin Henry-Seacoast]

You could have gotten this guy at least 20 years. Do you realize it's a felony for each social he is trying to sell?

Next time have him take a seat, make him some coffee, and tell him your boss is on the way with the money then slip away and call the fuzz.

United States Secret Service especially if done over the internet. FBI local office if in person.

[Karen37a]

Every iso that shut down the brokers had boxes of leads...names and took them somewhere else.

( some don't know how to cold call or close people so I wouldn't worry that much about it)

If they cant backdoor a full "active" application they are lost in space

Wonder whats happening to someone's leads/names now

[admin]

And not that it needs reminding, but if anyone tries to sell applications, socials, or bank statements on here or through here, please alert us ASAP so that they can be banned.

[Karen37a]

And not that it needs reminding, but if anyone tries to sell applications, socials, or bank statements on here or through here, please alert us ASAP so that they can be banned.

Most don't do it here...they know each other from broker associations/friendships.

And technically smart salespeople are going to get to the same merchants via referral/SEO/yellow pages....it just takes a bit of follow up and skill.

Those sales deals/ files/applications being passed to debt relief is the part you have to worry about

[Michael I]

follow the debanked articles and you will know where they all come from . thank god those companies are fixing things up to put a stop to it and with new technology it is getting easier to protect all

[Karen37a]

ps...waller call me ( ha joking )

[Sachip24]

You could have gotten this guy at least 20 years. Do you realize it's a felony for each social he is trying to sell?

Next time have him take a seat, make him some coffee, and tell him your boss is on the way with the money then slip away and call the fuzz.

he was literally a stranger young guy walking from shop to shop...no one really knew what was going on until he took them out once boss caught wind kicked him out so fast...but about 15 minutes later friend of mine at another shop texts me if I wanted leads there was a guy that just walked into their shop selling leads i was like jesussss

[fundingsmbs]

everyone flips their deals that's how so many brokers are staying in business. they either stack the deals or flip them before renewals can review them. o.k., maybe "everyone" does not do this but a large % are. it's a crowded space. why do you think capify left the USA and ODC is in Australia pushing loans. Elbow room needed.

[Chambo]

I have been recently contacted by Lead Brokers over the last 6 months. They dont just have 10 or 15 apps and banking, THEY HAVE THOUSANDS! THATS CRAZY!!!! They are selling dated Applications and Banking Docs from As Recent as 2 months to 36 months. This is a false way of running a business. Its not a sustainable business model. MCA world we have to do better. Learn the skill and art of sales. Don't cheat yourself. - WALLER

this is illegal last time I checked

[Karen37a]

everyone flips their deals that's how so many brokers are staying in business. they either stack the deals or flip them before renewals can review them. o.k., maybe "everyone" does not do this but a large % are. it's a crowded space. why do you think capify left the USA and ODC is in Australia pushing loans. Elbow room needed.

"everyone" does not do it

for the 1000th time I do not stack my funders...I will put a second on someone when the original client was not mine.\

Some of us wait for renewals and add ons..

[fundingsmbs]

if you put a second on someone when the original client was not yours than you stack! stacking is stacking. their agreements all have no stacking clauses so by it not being your client, you have persuaded them to breach their first positon agreement no?

[Enablement Data]

**** brokers.

Nothing chaps my ass along with my entire staff with these ****ing jerkoff brokers. Not like i check their asses but you can tell the way we sit when someone is shaky with their data.

But...believe it or not, we have the equal amount of inbounds to buy leads from companies on other verticals (plus alt. lending) versus random employees from MCA companies in NYC to Minnesota all the way to LA and back that reach out to us to buy their (stolen) data.

I would rather beat my head in with a ball-peen hammer instead of having anxiety selling a company apps that god knows where they came from. I would literally rather have battery acid poured on my private parts than utter the words "I got apps."

**** that and **** them.

You're right to learn the skill of sales...we can generate 30 or 500 leads in one day on our un-branded+branded sites; were still trying to figure out how to control that

...the skill is for us not getting greedy destroying other in-house campaigns with their booger green landing pages and **** colors.

Learn color palates and subliminal reactions on it.

[Karen37a]

if you put a second on someone when the original client was not yours than you stack! stacking is stacking. their agreements all have no stacking clauses so by it not being your client, you have persuaded them to breach their first positon agreement no?

I do not "persuade" people to breach first position. I persuade people to do business with me and my company.Or my brokers do.

There is a healthy second vs double dipping I am sure you can scroll back or search for my past sermons on it.

My opinion is 1st position cant lock up the country and people can choose to take a second , like people take a 2nd mortgage and 2 credit cards or car loans. When it becomes abusive its a problems and dont kid yourself...the merchants are doing it with or with out you.

I had asked you once before do you sell cash advances...just out of curiosity. You never replied?

[WestCoastFunding]

Funders suck. Brokers suck. Merchants suck. Aside from them, the rest of the MCA industry is awesome.

[LJH365]

When I first started in the industry I worked for a guy who, after I had been working there about 3 months, decided to renovate and redecorate the office. Instead of putting artwork up on the walls, he adorned the office with these tacky large sized photographs emblazoned with quotes from various scumbags like Jordan Belfort, Notorious B. I. G, etc. A lot of the younger kids loved them, but myself and a handful of the more professional reps were horrified and embarrassed.

That guy drives a Bentley.

The problem is that we glorify greed and nobody teaches accountability anymore. It's too easy to make a buck by lying and cheating, and many people think its okay to do that when it's absolutely not ok.

[JSL23]

He probably stole them...$3.00 each though...nice!

[Karen37a]

When I first started in the industry I worked for a guy who, after I had been working there about 3 months, decided to renovate and redecorate the office. Instead of putting artwork up on the walls, he adorned the office with these tacky large sized photographs emblazoned with quotes from various scumbags like Jordan Belfort, Notorious B. I. G, etc. A lot of the younger kids loved them, but myself and a handful of the more professional reps were horrified and embarrassed.

That guy drives a Bentley.

The problem is that we glorify greed and nobody teaches accountability anymore. It's too easy to make a buck by lying and cheating, and many people think its okay to do that when it's absolutely not ok.

or you just wait for the office to shut down and look on craigs list for the furniture sales.Show up on the 30th/31st ...make an offer to take it away for free so they dont have to haul it. Or show up on the 1st talk to the old landlord they will give it to you for free to clear the place.

Just hope they have black ergonomic chairs and sucess is not an accident posters, next time.

( only real reason to regulate...newbies have to have experience and proof, or be an acreddited investor or they have to join an established iso)

I have been preaching the join an iso / brokers broker thing for 3 years now..others said go direct and it is not true. For many many many reasons as we have all witnessed. In the end it protects the Real Funders from Default...underwriting fraud, sometimes stupidity on all end or it slips through a crack, massive stacking, brokers from not getting paid commission and the public from brokers who do nto do the right thing...also funder who do not do the right thing and while labels.

And its massive default...not something simple...my merchants are not going to default without me going down swinging, protecting my funders/partners to get the money back.

[Chambo]

I have been recently contacted by Lead Brokers over the last 6 months. They dont just have 10 or 15 apps and banking, THEY HAVE THOUSANDS! THATS CRAZY!!!! They are selling dated Applications and Banking Docs from As Recent as 2 months to 36 months. This is a false way of running a business. Its not a sustainable business model. MCA world we have to do better. Learn the skill and art of sales. Don't cheat yourself. - WALLER

the Feds don't have to regulate s with this behavior. We are cannibalizing ourselves and will run each other out of business

[k lion]

Every time I submit a file, I get called by a broker asking if I need working capital for my business.

[fundingsmbs]

^ well, within your list of who you submit to, the culprit lies. if you shotgun deals and waste most of the co's time, they could care less. that's how its gotten out there

[montcosquire]

I totally agree! This industry is being threatened by the very people you described.