Results 1 to 25 of 61
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07-18-2018, 12:35 PM #1
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- Oct 2017
- Posts
- 36
Funder wont pay commissions owed...Any Ideas? They are a ISO claims direct funding
I received a email from a ISO claiming to be a direct funder. He used several different companies to fund these 2 deals and never paid me on the one. He claims he can hold commision for 30 business days. That has passed..Anyone have problems with "]Greenlite Capital[/ out of Florida and what can I do to get my commision?
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07-18-2018, 12:38 PM #2
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- Aug 2014
- Posts
- 194
Did the deal default?
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07-18-2018, 12:43 PM #3
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- Oct 2017
- Posts
- 36
No, I called Both funders and they said he paying, he had a few nsf but they didn't claw back commission to GREENLITE CAPITAL
Alex keeps saying he is going to pay me but too many promises broken...Not sure what to do short of small claims court
Alex says he has been in business 8 yrs and no complaints , hard to believe that when his voice mail is full for 2 weeks
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07-18-2018, 01:04 PM #4
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- Oct 2016
- Posts
- 4,318
How many points? How much are you owed.
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07-18-2018, 01:12 PM #5
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- Oct 2016
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- 4,318
Real talk: you’ll never see that money. Since he portrayed himself as a funder he probably promised you as many points as he was getting. By now he’s spent it.
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07-18-2018, 01:34 PM #6
- Join Date
- Aug 2014
- Posts
- 620
^ Agreed. Sorry you had to go through this. If you aren't signed up with YSC please give me a call, you'll never have an issue getting paid.
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07-18-2018, 01:42 PM #7
- Join Date
- Oct 2017
- Posts
- 36
His agreement calls for 12 points. But he said he could only pay 7 on this
I have been in the business as a ISo for 12 years and get emails all the time from direct funders, This is the first time that a ISO claiming to be a direct funder has held my commision. Anybody else had problems with Greenlight Capital?/ Nickelbox inc?
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07-18-2018, 02:15 PM #8
Small claims court is $99 is most states, file a case against him and see how he responds. or go to one of those pre paid legal companies ($29.00 per month ) and have them draft a letter- that might get his attention.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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07-18-2018, 02:21 PM #9
- Join Date
- Jan 2014
- Posts
- 1,375
12 years in the business and you couldn't find an actual funder for these two deals that you used a no name company you never heard of to get it done? The money is gone and spent by Greenlight im almost sure. ISO's get paid same day as funding of next day, in the agreement that you signed with them did it say he can hold your commission for 30 days? that's kind of wild
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07-18-2018, 02:22 PM #10
- Join Date
- Feb 2018
- Posts
- 1,349
what is the story from greenlight I wonder. always 3 sides to every story.
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07-18-2018, 02:40 PM #11
- Join Date
- Dec 2013
- Posts
- 4,713
MANTIS/CRESTHILL commission payment list (per batch) keeps getting longer and longer (and even longer) and we have a RENEWAL-LOCK-PROGRAM IN PLACE... once on subject if you have files over 100K for super-subprime ill fund today with contracts back-in... i cant keep seeing high balances in our account...it got to be on the street!
Last edited by mcaguru; 07-18-2018 at 02:42 PM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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07-18-2018, 02:52 PM #12
- Join Date
- Feb 2018
- Posts
- 1,349
"I sent "x" company a file on Friday, they received the file and said they will send for underwriting. They made me a small offer for 3k shortly after which the merchant accepted. I sent in more stipulations and requested contracts. We even exchanged a few emails back and forth. The merchant signs the agreement over the weekend and sends over more required documents. I sent the documents back to "x" company in which they requested more documents. Shortly after "x" received all the needed documents from me I received a Declined email. Normal ;p. The email read" Sorry but we have to decline your file at this time because we have already received the signed contract prior to you submitting the file?.... I was stumped... How??? When?? "
this was on linkedin this AM. $3K deal? wow. it's getting ugly out there.
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07-18-2018, 03:05 PM #13Karen37aGuest
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07-18-2018, 03:11 PM #14
- Join Date
- Nov 2016
- Posts
- 91
3k deals being backdoored on linkedin now? WOW what's next?
I know most brokers are foaming at the mouth for their next commissions but it's beyond embarrassing.
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07-18-2018, 03:13 PM #15
- Join Date
- Dec 2013
- Posts
- 4,713
I just this week heard a terrible story...1 small ISO just got into this business (does POS terminals) so he knows the clients VERY well..he was signed up with just 1 company within HOURS of sending the DEAL to this firm they would get calls instantly as if they were COLD-CALLING its very sad!
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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07-18-2018, 03:16 PM #16
- Join Date
- Dec 2013
- Posts
- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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07-18-2018, 04:22 PM #17
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- Oct 2016
- Posts
- 4,318
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07-18-2018, 04:31 PM #18
- Join Date
- Aug 2017
- Location
- Los Angeles
- Posts
- 56
Here is the 3K linkedin post if you want to read it
Pedro Arriaga
Pedro Arriaga
CEO at Global Capital Trading
2d
Just had a terrible experience with Mantis/ Cresthill!!
In this day and age there are too many companies that offer the same products and services as you. The main difference is how we communicate with our clients. Communication is Key!
I sent mantis a file on Friday, they received the file and said they will send for underwriting. They made me a small offer for 3k shortly after which the merchant accepted. I sent in more stipulations and requested contracts. We even exchanged a few emails back and forth. The merchant signs the agreement over the weekend and sends over more required documents. I sent the documents back to mantis/cresthill in which they requested more documents. Shortly after mantis received all the needed documents from me I received a Declined email. Normal ;p. The email read" Sorry but we have to decline your file at this time because we have already received the signed contract prior to you submitting the file?.... I was stumped... How??? When??
I called merchant, they were as confused as i was. I called my broker, just as confused.
I called Mantis/Cresthill, they said they had the file since June and they were just missing some information.
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07-18-2018, 04:37 PM #19
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- Oct 2016
- Posts
- 4,318
Last edited by WestCoastFunding; 07-18-2018 at 04:39 PM.
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07-18-2018, 05:11 PM #20
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- Jun 2015
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- 3,325
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07-18-2018, 05:14 PM #21Karen37aGuest
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07-18-2018, 05:24 PM #22
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- Oct 2016
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07-18-2018, 06:27 PM #23
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- Jul 2015
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07-19-2018, 09:29 AM #24Karen37aGuest
Real Talk
if you are 12 years in the business then you know non competes and contracts work both ways. If they broke their end of their agreement you cant be held to your side in a court of law.
Some of us honoured non-existant non-enforceable non competes just for "show"
And the poorly written ones ...depends on the state, certain states throw it out in its entirety or some elect to enforce only certain provisions
My companies non compete is rock solid...if i terminate for fraud/theft, egregious acts, tortious interference. stacking, backdooring , ... I seriously never had to terminate before until these last years...geez
That other company needs to speak up if something went wrong
** I am not a lawyer check with oneLast edited by Karen37a; 07-19-2018 at 09:40 AM.
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07-19-2018, 11:26 AM #25
- Join Date
- Dec 2013
- Posts
- 4,713
we don't work with Vader ...we have our own (one of the largest ) MICRO FUNDING PROGRAMs ... turns out we got the contract back from Another ISO in June (once contracts back in other ISO has 30 days to close the deal) we still did not fund this file and on 7/31/18 the lock up expires and Pedro can fund this file....
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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