Who can pay off a reverse of 145k
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  1. #1
    Senior Member Reputation points: 117
    Join Date
    Apr 2017
    Posts
    127

    Who can pay off a reverse of 145k

    Client has 2 loans that are currently in a reverse with PAR.

    Client owes 145k and does 175k a month.

    2 MCAs are currently coming out of the account but PAR sends the client enough to cover the payments the beginning of each week.

    Looking for someone to consolidate the reverse into a 1st position.

  2. #2
    Veteran Reputation points: 159073 J.Celifarco's Avatar
    Join Date
    Oct 2012
    Location
    New York
    Posts
    2,509

    nobody is going to be able to payoff a reverse because the amount owed doesn't equal the amount the merchant has received up to this date. The signed for the full amount of funding which is deposited weekly, no company is going to jump in the middle of that and try to pay them off for the portion the merchant has received and risk the reverse company going after the full amount signed for.
    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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