[WestCoastFunding]

Step 1: setup a fake website and email of a debt settlement company
Step 2: send out emails to all ISOs offering your debt settlement service
Step 3: any ISO that responds gets their ISO terminated

[Karen37a]

Step 1: setup a fake website and email of a debt settlement company
Step 2: send out emails to all ISOs offering your debt settlement service
Step 3: any ISO that responds gets their ISO terminated

That would be crafty ( now you told everyone and everyone will use those Bangladesh call center porn names)

[patrickw]

That would be crafty ( now you told everyone and everyone will use those Bangladesh call center porn names)

lmfaooo :O

[Ak2120]

love it! 100% agreed. Wish this was something that could truly be implemented in one shape or form, Industry would really benefit greatly from removal of greedy people like these.

[Karen37a]

That is the power of "regulation"....they get arrested. And why they cant get on the back end of some loan brokers calls, they did loan modifications and forensic audits to block the modifications for the investors and know all the laws.

[Karen37a]

I read that some Debt relief companies gave a list of the brokers/funders who participated.

ack

They always tell on you

[Karen37a]

Oh I forgot to add somewhere BEFORE or AFTER debt relief...brokers and isos go to other "super isos" and dump the fking ugly file on their desk, then wind up in a fight on the DF

That's right before they get their butt kicked back to uber

[Karen37a]

The concept of automated applications and getting rid of Isos isnt the smartest thing.

Id like to see the study on defaulted deals. The ones who have live isos on them, live brokers, or the ones that were orphaned or with a customer service agent /clerk ..non commissioned

Live experience ethical Isos were being battered by Debt Relief.

The merchant won't call the funder sometimes and say...i am going to debt relief, they don't like you. They sometimes have a personal relationship with the broker/iso.Just like salespeople can talk people INTO sales they can talk them OUT of doing something stupid

2 salespeople. The Debt relief on the phone...vs the experience iso explaining the ramifications of what they are going to do and alternate solutions.'

30% of the time they defaulted just because they didn't "feel" like paying any more and someone was convincing them to do it. ( this concept is the same in stocks..they lose money and want it back..mortgages...they want to be forgiven on the loan and keep the house, because they said so, life insurance...they cancel the payments 1 year later someone dies...they think they deserve credit for the time they paid)

The Isos want to hold them in the sale because it's their renewal commission.. If I think I am going to get 10k renewal commission and a debt relief person is trying to disturb my sales...I do something about it. So do most of us.

[ryan $]

Recet is another one.

We put out #'s on Apps. And on one deal I seeded it (used different email addresses on each App and kept track of which lender i sent with which email address)

Needless to say a very prominent lender backdoored the file to a debt settlment company called recet.

It very well may be a rouge employee - or the entire company - Im not sure

[Richard Gomez]

Isaac Stern was the first guy I ever spoke to on the phone in this industry, as an ex-Stockbroker from NYC he told me to come to his office to sign up as an ISO with reps he sent my info to, back in 4/17, I have never looked back: Straight up character. I have never offered that debt relief trash option to Merchants.

[Karen37a]

Isaac Stern was the first guy I ever spoke to on the phone in this industry, as an ex-Stockbroker from NYC he told me to come to his office to sign up as an ISO with reps he sent my info to, back in 4/17, I have never looked back: Straight up character. I have never offered that debt relief trash option to Merchants.

I agree.

He is truly a great leader..great leadership skills, makes people feel good...helps people rise with him. Speaks softly and carries a big stick.Thats why so many look up to him...even when they are not originally C/D paper people.

[fundingsmbs]

that was fast! nobody likes to go to trial very expensive. so does that mean pearl cannot stack rapid anymore?

[StipMeBabyOneMoreTime]

that was fast! nobody likes to go to trial very expensive. so does that mean pearl cannot stack rapid anymore?

Probably. I guess better to settle than to set a precedent.