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09-06-2018, 11:21 PM #1
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1st global
had a merchant that says 1 global stopped debiting him than restarted and than stopped again
anyone else see this?
also merchant is looking to consolidate they qualify but the lender wants a payoff from 1 global which the merchant has had 0 luck getting
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09-06-2018, 11:40 PM #2
1st Global's ACH processor (First Premier Bank) suspended all ACH activity on July 31st but then on August 9th the bankruptcy court ordered them to process the ACHs going forward. On September 5th, 1st Global's contract with First Premier actually expired and the bank had zero interest in renewing the agreement. The Court can't order the bank to do business with another company that it has no contractual obligation to do so especially when that business is (1) risky to begin with (2) in bankruptcy (3) has been charged with fraud by the SEC, and (4) being investigated by the FBI.
So unless they found some white knight ACH processor who's willing to see past all that, their merchants not getting debited would not surprise me at all.
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09-06-2018, 11:50 PM #3
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09-07-2018, 12:06 AM #4
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09-07-2018, 12:11 AM #5
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09-07-2018, 10:08 AM #6
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Curious to see how other funders underwrite files that have 1st Global in First position and not debiting.
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09-07-2018, 10:16 AM #7
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09-07-2018, 10:28 AM #8
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Percent of merchants who tried reaching out to 1st Global to find out why payments stopped? Is it 1% or 0%? Tough guess.
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09-07-2018, 10:33 AM #9Karen37aGuest
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09-07-2018, 10:57 AM #10
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09-07-2018, 11:01 AM #11Karen37aGuest
I would contact the lawyers in charge and negotiate a payoff...but I would advise against it for most because you will be calling the sec and FBI ( possibly)
Try to find the lawyer..i posted the number before
** again i advise against this for 99% of people. If you are 100% ethical..go for it.Last edited by Karen37a; 09-07-2018 at 11:04 AM.
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09-07-2018, 02:07 PM #12
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Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
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09-09-2018, 02:30 PM #13
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09-09-2018, 03:38 PM #14
I heard they found a new bank to do their ACHs
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09-09-2018, 10:37 PM #15
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09-10-2018, 08:35 AM #16Karen37aGuest
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09-10-2018, 09:27 AM #17
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09-10-2018, 09:30 AM #18Karen37aGuest
And you will remember that Karen37a tried to block the dismantling and demise of the Mca industry ...with all her might
__
Sons of Scotland, I am William Wallace…
William Wallace is 7’ tall….
Yes, I’ve heard, kills men by the hundreds, and if he were here he would consume the English with fireballs from his eyes and bolts of lightning from his arse. I am William Wallace, and I see a whole army of my countrymen, here in defiance of tyranny. You’ve come to fight as free men, and free men you are. What will you do without freedom? Will you fight?
…against that? No, we will run, and we will live…
Aye, fight and you may die, run and you’ll live. At least a while. And dying in your beds, many years from now, would you be willing to trade all the days from this day to that for one chance, just one chance to come back here and tell our enemies that they may take our lives, but they’ll never take our FREEDOM.
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You Have Bled with Wallace, now Bleed with me
https://www.youtube.com/watch?v=eclbaC3q94kLast edited by Karen37a; 09-10-2018 at 09:56 AM.
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09-10-2018, 10:05 AM #19
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09-10-2018, 10:08 AM #20Karen37aGuest
lol Speed Type without looking hit enter
I am not the president though
Covfefe
cof is for closers.jpgLast edited by Karen37a; 09-10-2018 at 10:25 AM.
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09-10-2018, 01:32 PM #21
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LoanMe offers monthly payment term loans from $3,500 to $250,000. Minimum FICO 500, Minimum TIB 90 days. Multiple positions ok, final approvals based on affordability, not strictly revenue or deposits. We can work with all "For-Profit" Industries. Give us a call 949-535-7798
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