[Collection Specialist]

So of late I have noticed that these settlement companies are now (at least over the last few days) calling merchants as they always do and this time their pitch is to reference the clearly biased opinion pieces (I cannot bring myself to call it reporting) and state that funders are fraudulent. No basis of fact, pure libel or slander depending on how they disseminate this false information, just a blatant lie to actually get them to sign up. I find it the epitome of irony that they would lie about fraud in order for merchant to sign up with them as they tortuously interfere.

It's rather ridiculous.

I would make an open suggestion to all funders to start preparing detailed reports of every noteworthy default where the merchant clearly and overtly attempted or successfully absconded with funds. I sense that a counter argument to the recent "articles" will be needed down the road.

I spend my days seeing the lengths merchants will go to defraud. This is just another arrow in their quiver of excuses or justifications.

[BROKER TIME]

So of late I have noticed that these settlement companies are now (at least over the last few days) calling merchants as they always do and this time their pitch is to reference the clearly biased opinion pieces (I cannot bring myself to call it reporting) and state that funders are fraudulent. No basis of fact, pure libel or slander depending on how they disseminate this false information, just a blatant lie to actually get them to sign up. I find it the epitome of irony that they would lie about fraud in order for merchant to sign up with them as they tortuously interfere.

It's rather ridiculous.

I would make an open suggestion to all funders to start preparing detailed reports of every noteworthy default where the merchant clearly and overtly attempted or successfully absconded with funds. I sense that a counter argument to the recent "articles" will be needed down the road.

I spend my days seeing the lengths merchants will go to defraud. This is just another arrow in their quiver of excuses or justifications.

this is 100 percent accurate

[WestCoastFunding]

I hear what you’re saying, but I don’t think having a report of merchants maliciously defaulting will win over a single member of the public. Let’s be completely real here: MCA industry will never be an industry that gets any sympathy from the public (just like payday lenders will never get sympathy) because of the super-high rates and fees. Sure, we understand the need and value, but the population as a whole will never understand a 200% APR product. Put it like this: If the payday loan industry released a report saying that borrowers were ****ing them over, the entire public would cheer.

The key to fighting back is to not give the detractors anything to work with. Don’t do anything shady. Make sure your operations are buttoned-up tight and 100% by the books.

[J.Celifarco]

i hear what you’re saying, but i don’t think having a report of merchants maliciously defaulting will win over a single member of the public. Let’s be completely real here: Mca industry will never be an industry that gets any sympathy from the public (just like payday lenders will never get sympathy) because of the super-high rates and fees. Sure, we understand the need and value, but the population as a whole will never understand a 200% apr product. Put it like this: If the payday loan industry released a report saying that borrowers were ****ing them over, the entire public would cheer.

The key to fighting back is to not give the detractors anything to work with. Don’t do anything shady. Make sure your operations are buttoned-up tight and 100% by the books.

^^^^^^^^^what he said^^^^^^^^^^

[jenk12]

The key to fighting back is to not give the detractors anything to work with. Don’t do anything shady. Make sure your operations are buttoned-up tight and 100% by the books.

Considering the low barrier to entry, fly-by-night operations will continue to hurt the industry's reputation.

[Atlas Financial]

Considering the low barrier to entry, fly-by-night operations will continue to hurt the industry's reputation.

Agreed, but singular stories or a few here and there are just a drop in the bucket unfortunately. They always oust themselves regardless as they get greedier and greedier. Look at that one company JTT Funding, those types of people cannot help themselves.

https://debanked.com/2018/05/judge-g...nding-company/