Results 1 to 25 of 43
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12-13-2018, 09:26 AM #1
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- Oct 2016
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“New York Lawmakers Say State Must Stop Enabling Predatory Loans”
“New York legislators are pledging to change laws that have allowed predatory lenders to use the state court system to seize the assets of thousands of small businesses across the country.
Brad Hoylman, incoming chairman of the Senate Judiciary Committee, called the current situation “alarming” and said he’d try to enact changes during next year’s legislative session.”
https://www.bloomberg.com/news/artic...redatory-loans
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12-13-2018, 09:35 AM #2
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- Feb 2017
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Meanwhile, this:
Study Shows Small Business Loan Demand Highest Since 2012
https://debanked.com/2018/11/study-s...st-since-2012/
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12-13-2018, 09:36 AM #3
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- Jun 2015
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- 754
Assemblyman Kim, who represents part of Queens and is running for New York City public advocate, said in a statement that he will introduce a bill to criminalize confessions of judgment in the state and to cancel the debts of borrowers who have signed one.
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12-13-2018, 10:07 AM #4
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12-13-2018, 10:22 AM #5
Last edited by J.Celifarco; 12-13-2018 at 10:39 AM.
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
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12-13-2018, 10:42 AM #6
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- Feb 2017
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What industry is using COJs aside from MCAs? I just had a client who a COJ was filed on him from a private lawsuit having to deal with the government and some minimum wage issues. The NY court system had them sign the COJ as part of the settlement.
From the filing:
Plaintiffs filed an action against Defendants for violation offederal and state wage
and hour laws in the United States District Court for the Southern District of New York on or
about February 16,2015....
.... After extensive negotiations, Plaintiffs andDefendants entered into a settlement
agreement (the "Agreement"), which weis fully executed onorabout May 10,2016....
....Defendants simultaneously executed Affidavits of Confession of Judgment (the
"Affidavits")....
There's no way anyone will cancel already agreed-to legal documents Politicians know that they can't undo an established practice "cold turkey" and they for sure can't "undo" history. This is a political stunt.
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12-13-2018, 11:03 AM #7
Heh,...I received a text from the head of a fund which stated, "The Feds are Coming, The Feds are Coming!" Not sure how serious or not he was about that....
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12-13-2018, 11:46 AM #8
Assembly man kim also wants to cancel student loan debt.
These political clowns are terrible
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12-13-2018, 12:07 PM #9
Utilizing the loopholes in the law, the MCA lawyers have made the legislators look bad and foolish to their constituencies. Plus, other Congressmen from other states will be leaning on their NY brethren about this.
Gov't doesn't like to be made the fool or taunted. EVERY SINGLE person or entity who has ever done this in the past has been brought down.
They will find a way....
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12-13-2018, 12:54 PM #10
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- Dec 2013
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https://www.nytimes.com/interactive/...e-housing.html
I think they should look into every industry to make sure bad actors dont take advantage (and that's selling beer and ciggs to young teens and etc) but i have community leaders (who chat with a lot from back home) telling me the BIGGEST ISSUE nowFACING NYC is the low to middle income people left dead-broke after paying rent (many cant afford that!)... I think NYC for the first time is going to be left with tens thousands of people NOT being able to pay rent. so lets not loss focus on the real issues the voters had in mind when electing leaders to be their true saviors.
But an investigation by The New York Times illustrates how the Orbach Group and other mega-landlords exploit a broken and overburdened system. In one of the busiest courts in the nation, errors often go uncaught and dubious allegations go unquestioned. Lawsuits are easy to file but onerous to fight. Landlords have lawyers. Tenants usually don’t, despite a new law that aims to provide free counsel to low-income New Yorkers.
Landlords rely on what amounts to an eviction machine. A cadre of lawyers handles tens of thousands of cases a year, making money off volume and sometimes manipulating gaps in enforcement to bring questionable cases. Punishable conduct is rarely punished.
Process servers, required to notify tenants that they are being sued, sometimes violate the law. Among tenants whom servers had supposedly talked to in person, The Times found several who were abroad at the time. One had been dead for years.
Judges sometimes unwittingly ordered the eviction of tenants who had no idea they had been sued.
“When they sent the marshal, they never gave us no notice,” said Zanden Alzanden, a Yemeni immigrant who was evicted from his home in the historic Dunbar Apartments in Harlem when he was in the hospital in January 2017. “Nothing on door, ever. Only that day, the marshal coming in, my son and an old guy sitting in there: ‘Boom boom, get the hell out of here.’”Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
——————————————————————————
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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12-13-2018, 01:01 PM #11
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- Dec 2013
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- 4,713
The Eviction Machine Churning
Through New York City
Housing court, a system created to protect tenants, has become a powerful tool for landlords.
About 232,000 cases were filed last year against tenants, roughly one for every 10 city rentals. Most tenants were accused of owing back rent. But in many cases, tenants were sued for rent they did not owe. Sometimes they had paid, only to have landlords claim that the checks mistakenly remained uncashed or had been lost in the mail; sometimes they were sued for money owed by a government program. Sometimes, tenants withheld rent only because much-needed repairs had never been done.
People want a story of UNJUST here is one: 232,000 cases!!!!!!!!!!!!!
https://www.nytimes.com/interactive/...e-housing.htmlLast edited by mcaguru; 12-13-2018 at 01:16 PM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
——————————————————————————
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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12-13-2018, 01:03 PM #12John 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
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12-13-2018, 01:15 PM #13
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- Dec 2013
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- 4,713
One can read the NYT story and be like lets put a halt to the court system and end the landlords abilitys to use the Marshall
Last edited by mcaguru; 12-13-2018 at 01:19 PM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
——————————————————————————
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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12-13-2018, 01:21 PM #14
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- Jul 2015
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12-13-2018, 01:28 PM #15
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- Dec 2013
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What r you talking about. We are known to protect our ISO’s !
Last edited by mcaguru; 12-13-2018 at 01:31 PM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
——————————————————————————
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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12-13-2018, 01:42 PM #16
- Join Date
- Jul 2015
- Posts
- 1,202
The Clap.JPG
An ISO literally today mentioned that he was surprised that you broker out files without informing them. You are a blight on the industry - all channels. Sadly, you don't care.
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12-13-2018, 01:45 PM #17
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- Dec 2013
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- 4,713
We hide nothing. Mantis is our direct funder/ ISO's have the ability to request a mantis offer ONLY.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
——————————————————————————
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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12-13-2018, 01:46 PM #18
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- Oct 2016
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12-13-2018, 01:52 PM #19
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- Dec 2013
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Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
——————————————————————————
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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12-13-2018, 01:57 PM #20
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- Apr 2018
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- 94
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12-13-2018, 02:04 PM #21
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- Jul 2015
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Nobody cares about your "model" when it comes to deceptive practices. You have no right to play god with files these unaware brokers send in under any "model".
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12-13-2018, 02:23 PM #22
- Join Date
- Mar 2015
- Location
- Boynton Beach
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- 3,490
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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12-13-2018, 02:48 PM #23
- Join Date
- Feb 2018
- Posts
- 1,349
Small Business Finance Association supports these bills. So, if you live off commissions for seconds+ and COJ's, Small Business Finance Association is essentially behind the end of the practice, which could end funding and commissions for said brokers. This is a slippery slope.
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12-13-2018, 03:10 PM #24
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- Feb 2017
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12-13-2018, 03:31 PM #25
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- Jun 2018
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