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  1. #1

    QuickFix Being Difficult

    I am looking to pay off Quickfix, but they are refusing to provide the merchant with a payoff letter, unless they can first see our contract and have a chance to compete. Did anyone else have this situation? How ca I get them to send the client a payoff letter?

  2. #2
    Banned Reputation points: 179851
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    Is the client requesting the payoff - that seems crazy - demand the payoff letter - that sounds insane

  3. #3
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    Client has the right to a payoff letter. If the client told Quickfix the reason for payoff was to get additional capital than QF will try to engage. Must inform clients before doing payoff letter that they must tell them they are say looking to sell the business, not payoff QF and get more money.

  4. #4
    Senior Member Reputation points: 503040
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    Not a good look for Lendini/Quickfix.

    Stop ****ing the merchant over and provide the payoff letter as requested. Aren’t there some guys from there that comment here?

  5. #5
    Senior Member Reputation points: 503040
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    Also, if Quickfix is going to give merchants a hard time getting a payoff letter, the end result will be Quickfix being stacked over and over again. I’m sure Quickfix doesn’t want to lose the merchant because they want that renewal, but If the merchant then stacks the **** out of them, they weren’t gonna renew anyway.

  6. #6
    Veteran Reputation points: 157541 J.Celifarco's Avatar
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    Is the merchant going to the iso they worked with prior or going directly to the bank.. I just got a payoff letter from them, merchant called the main number asked for it and had it within 24 hours.. Anything is possible maybe I got lucky but this sounds more like they went to the ISO they dealt with and not directly to the bank
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  7. #7
    Karen37a
    Guest
    This happens on a regular basis I do not know why anyone is surprised.

    if you search for past posts you can see me and someone getting down, bare-knuckle fist fight to the death for the payoff letter and instructions on how to get it

    PS . This is another reason why stacking exists


    I would also assume most do not know its going on because they are not trying to move into 1st position like I am and also they just lose the sale on the back end to the inside renewal department

    People can stop saying " people hate you Karen"...what the hell do you think is going to happen when we all get some of the same merchants and millions of dollars is flying around

    " they hate you"...thanks* has been my response thus far

    Also why I posted 200k ...BAM...it was a battle for 2 payoff letters
    Last edited by Karen37a; 11-08-2018 at 10:52 AM.

  8. #8
    Karen37a
    Guest
    To be a total biatch

    Some of you are/were trigger leads...you call for the payoff and they call the merchant and renew

    That and the tank file and the fab 5 yelling at me

    this has been a blast

    Add. This is also why I fought off the few people who were trying to "outlaw" the second position.Me Knowing that 75% of them will lock up the payoff letter and then some are toast..

    Small brokers/ small iso/ small funders... up against big marketing budgets and Banks ...it was almost over for everyone
    Last edited by Karen37a; 11-08-2018 at 11:25 AM.

  9. #9
    Senior Member Reputation points: 86751
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    Quote Originally Posted by WestCoastFunding View Post
    Not a good look for Lendini/Quickfix.

    Stop ****ing the merchant over and provide the payoff letter as requested. Aren’t there some guys from there that comment here?
    some companies have internal policies to hold off a few days and call merchant before issuing a payoff. its called retention. now, if the file has missed payments and is not performing, i am sure you will get one asap.

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