Results 1 to 9 of 9
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04-08-2019, 03:28 PM #1
- Join Date
- Apr 2013
- Posts
- 359
Merchant on Reverse Consolidation for 3 balances - - wants $75K
Merchant is paying down 3 balances through a reverse consolidation company.
She is seeking $75K separately.
Will anyone fund this given she is on a payment plan for the other balances?
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04-08-2019, 04:10 PM #2
- Join Date
- Oct 2018
- Posts
- 99
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04-08-2019, 04:42 PM #3
- Join Date
- Mar 2017
- Location
- Nunya
- Posts
- 830
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04-08-2019, 05:16 PM #4
- Join Date
- Jan 2018
- Posts
- 353
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04-08-2019, 08:08 PM #5
- Join Date
- Oct 2018
- Posts
- 99
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04-09-2019, 07:10 AM #6
- Join Date
- Apr 2014
- Posts
- 781
Why would.you even ask this.op.
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04-09-2019, 05:54 PM #7
- Join Date
- Apr 2013
- Posts
- 359
Merchant had a legitimate emergency w/ the business. A broker then sold her the 2nd and 3rd positions and misrepresented everything from renewal eligibility to consolidating the first balance later which they never did. Complications don't change the health of the file but context does help.
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04-09-2019, 06:00 PM #8
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04-09-2019, 09:18 PM #9
- Join Date
- Mar 2016
- Posts
- 908
Most wont fund behind a reverse. If anyone does, the company doing the reverse will stop issuing deposits and the deal will be a ticking time bomb. Within a matter of days its a COJ race of who files first and it gets hairy real quick, so most people stay away from them all together.
Thank you,
Lior Monus
Business Development Manager
CFG Merchant Solutions
Direct: (646) 880-6764
Cell: (516) 319-5826
Fax: (646) 278-7322
Lmonus@cfgms.com
180 Maiden Lane New York, NY 10038
www.cfgmerchantsolutions.com
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