[jdlaw]

Does anyone see a value in working with a business debt settlement company
for clients that have judgements, lawsuits or just bad business debt?

[Christian]

Holy mother of god

[J.Celifarco]

WOW, good thing you dont have your company in your signature because if lenders saw you say that they would cut you off in a second

[Nunya]

Does anyone see a value in working with a business debt settlement company
for clients that have judgements, lawsuits or just bad business debt?

What was your name again?

[arealfundguy]

I thought they were cracking down on idiots on this forum.

[WestCoastFunding]

Does anyone see a value in working with a business debt settlement company
for clients that have judgements, lawsuits or just bad business debt?

So these debt settlement companies coach-up the merchant to default on their MCAs by switching bank accounts, and then charge the merchant a fee to negotiate a settlement with the MCA companies. They are literally coaching them to break MCA contracts.

Why would you think that it would be OK to work with them? they are the arch enemies of all MCA funders. What funder would trust you if they knew you were working with a debt settlement company?

[swiftcloser]

....

[WestCoastFunding]

Is he saying that or is he asking to work with them and improve their credit situation before applying? It looks like he's saying clients that already have judgments, bad credit, and business debt who would not get approved... I could be wrong, but thats the way I read it.

Regardless, if they do debt settlements, they are toxic. Any funder finds out they work with a debt settlement company and they’re done. If he’s looking for credit repair companies, that’s different (although they’re pretty much a scam, too).

[Sachip24]

So these debt settlement companies coach-up the merchant to default on their MCAs by switching bank accounts, and then charge the merchant a fee to negotiate a settlement with the MCA companies. They are literally coaching them to break MCA contracts.

Why would you think that it would be OK to work with them? they are the arch enemies of all MCA funders. What funder would trust you if they knew you were working with a debt settlement company?

i've even seen debt settlement companies that are actual ISO's who purposely stack merchants just to throw them in debt settlement down the line and make money on both ends its a dam shame

[Big Mack]

i've even seen debt settlement companies that are actual ISO's who purposely stack merchants just to throw them in debt settlement down the line and make money on both ends its a dam shame

Don't forget the reverse consolidation between stacking & settlement.

[WestCoastFunding]

Don't forget the reverse consolidation between stacking & settlement.

https://m.youtube.com/watch?v=ZXcBvq2Jscw

[jenk12]

They are a scourge on the industry. Parasites.

[Davincinc]

Does anyone see a value in working with a business debt settlement company
for clients that have judgements, lawsuits or just bad business debt?

are you a lawyer?

[jdlaw]

Ok this got taken all wrong, I was looking more along the lines of non-mca debt to free up cash flow and/or then providing funding for discounted (again) non-mca debt

[Chambo]

Actually, YOU got it all wrong. None of these folks on this site want anything to do with debt settlement companies. the ones that secretly do, would NEVER, EVER admit it here....for fear of being blacklisted

[Kevin Henry-Seacoast]

Ok this got taken all wrong, I was looking more along the lines of non-mca debt to free up cash flow and/or then providing funding for discounted (again) non-mca debt

JDLaw,

There is a HUGE difference between debt settlement companies and true corporate restructuring advisors also referred to as turnaround management firms. One of the better one in the South East is GlassRatner. I stay close to them as I find them to be a valuable referral source. They usually get involved when something not so pleasant happens to lower middle market or middle market companies that have traditional credit facilities with banks, mezzanine funds, and some larger alternative lenders. F
I saw 6 very large deals this week from corporate restructuring advisors.
I also like owrking with them as they are usually hired to take a very deep dive and uncover a lot of thinks that might have otherwise been missed if a deal came in over the transom.