[Michael I]

Have you seen where some lenders are doing smart/scamy moves , also how do you fight this
A couple of recent cases that happened to me .
1. merchant was not up for renewal with current lender she let them know she had a 100k offer instead of the 50k they were offering. They immediately said oh your sales are down this month and based on contract we need to lower your payments till they go back up next week . Now no one will touch her and there is no way to prove this story and not that she called and asked to lower payment .

2.lender does renewal and than starts drawing as default in the business name.

3. lender stacks themselves but with another company name

[Nunya]

Have you seen where some lenders are doing smart/scamy moves , also how do you fight this
A couple of recent cases that happened to me .
1. merchant was not up for renewal with current lender she let them know she had a 100k offer instead of the 50k they were offering. They immediately said oh your sales are down this month and based on contract we need to lower your payments till they go back up next week . Now no one will touch her and there is no way to prove this story and not that she called and asked to lower payment .

2.lender does renewal and than starts drawing as default in the business name.

3. lender stacks themselves but with another company name

All three are super sketchy. Can't say I've seen that before.

[Sachip24]

yup, ive seen that lowering payments one quite a few times. Even had email from their current underwriter stating they will just lower payments that go with sales to make it easier, so it looks like they restructured and no one would give offer. Also saw it being done during holiday season with some lenders they sent out letters stating for the holiday season they would lower merchants payments to help them with cash flow for the holidays...couldn't get an offer for him either because of that.

[ryan $]

Fake DataMerch Tags
Lower Payments
Stacking (6 deep on company names) or same name with multiple positions

it all happens. Swift allows for like deferred payments, so it looks like merchants just stop paying for a few weeks then resume with no new deposits.