[ClienTELL]

I have a client with multiple hotels. He came to us for consolidation of 600k. We put the offer out there and we required him to sign a Coj. He refused. He claims that he never signed a COJ and never will.

He has balances with american express, CFG, and national funding.

Do you know if these companies file a COJ? I want to get this done but the client is being a hard ass.

No negative days, brings in 500k a month on average, credit is above 700 and owes 297k in balances.

[abfunders]

"Us" as in direct or broker?
AmEx and National don't do COJs
CFG doesn't on case-to-case, Lior will tell you. With such a file, probably unlikely that he did.

If you want to make money on a client with a 700+ FICO, there are other ways out there that don't pay as much as an MCA, and at least you'll get paid.

[freeprocessing]

"Us"

If you want to make money on a client with a 700+ FICO, there are other ways out there that don't pay as much as an MCA, and at least you'll get paid.

Can you list some options.

[FroFunds]

Abfunders is correct; AMEX and National do not require COJs. And from my experience with CFG it would be an outlier for them to file a COJ on a file like this even for a 3rd because they consider heavily who the first two positions are and whether or not they've filed a COJ.

That's a quality consolidation you're offering.. what company are you with?

[Fund_It]

I had to call CFG to verify a zero balance and was told they do not make their client sign COJ's but if you see a UCC filing from them then 9 out of 10 times the merchant defaulted