[MidnightAdvance]

You didn't answer the question -
Do you fund merchant who screwed over their - credit cards, bank loans, student loans, mortgages, tax payments (the US government), and everyone else besides MCA ???

We, as MCA players, like to pride ourselves that we "fund when the banks say no" but when a deal defaults "on us" it's the worst thing in the world.

Again, I do understand that defaults are bad, we wouldn't touch them on our regular program, but don't make it as if it's more un-ethical than your regular MCA.

[J.Celifarco]

You didn't answer the question -
Do you fund merchant who screwed over their - credit cards, bank loans, student loans, mortgages, tax payments (the US government), and everyone else besides MCA ???

We, as MCA players, like to pride ourselves that we "fund when the banks say no" but when a deal defaults "on us" it's the worst thing in the world.

Again, I do understand that defaults are bad, we wouldn't touch them on our regular program, but don't make it as if it's more un-ethical than your regular MCA.

We must have very different ethics then because i think this is 100% unethical

[ryan $]

We must have very different ethics then because i think this is 100% unethical

That makes no sense to me.

If someone screws over ATT&T and gets sent to collections does Sprint repay ATT&T when customer goes to open an account? No.

If the Merchant is a default on YOUR books, and you then move them as you explained thats prob a little different, as you stated, but if he didnt default with you and you can then send them to midnight - i dont see the problem.

[J.Celifarco]

That makes no sense to me.

If someone screws over ATT&T and gets sent to collections does Sprint repay ATT&T when customer goes to open an account? No.

different people look at things different ways. I stick by what i said.

[abfunders]

If the Merchant is a default on YOUR books, and you then move them as you explained thats prob a little different, as you stated, but if he didnt default with you and you can then send them to midnight - i dont see the problem.

As long as you don't hide the fact from the new funder that there was a default, or the funder can do their own due diligence somehow. Don't send a file knowing that there's real criminal history to a funder hoping it'll get funded. At the beginning when every dollar counts, maybe. However, relationships are important. Packaging a loan is part of the broker's job.

I recently had a client who defaulted on 5 different funders in an old LLC (I found out after running biz credit on the old entity), he created a new LLC, and got funding from 5 other funders. One of the old ones he defaulted on was coming out of a separate account he set up just for that funder to pull from.

After lowering payments on the 5 stacks he had, I had a $450,000 term loan (secured by collateral) ready for him. After telling me that he was willing to do a controlled default to be ready re-fi (read: tortuous interference), and I told him no, running biz credit and seeing 5 judgements is what made me run the other way. (Yes, I tattled on him to the lender who he was funding on the new LLC and defaulted on the old one.)

[JMB]

That makes no sense to me.

If someone screws over ATT&T and gets sent to collections does Sprint repay ATT&T when customer goes to open an account? No.

If the Merchant is a default on YOUR books, and you then move them as you explained thats prob a little different, as you stated, but if he didnt default with you and you can then send them to midnight - i dont see the problem.

I agree with this!