[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!