Is a renegotiation a default?
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  1. #1

    Is a renegotiation a default?

    If you don't think it is I got a guy...

  2. #2
    It is. Well for most companies, let me not speak for all of them.

  3. #3
    Any ideas who 'might' not?

  4. #4
    Senior Member Reputation points: 6957 ESE5020's Avatar
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    Depends on the situation, its technically not, but the question is when was it re-negotiated, is the merchant currently on this renegotiated payment, if thats the case then it shows he cant currently meet his obligations, we would not be able to do anything.

    But if the merchant renegotiated an advance in the past and ended up paying the complete RTR, then we can look at it.
    East Shore Equities, LLC
    Tel: (516) 784-4298 | Fax: (516) 231-5590
    www.EastShoreEquities.com

  5. #5
    Yep, that's the case... He has a number of satisfied UCC letters, however he says he overpaid Samson? and settled fully with Yellowstone-- no letter... Thoughts?

  6. #6
    Senior Member Reputation points: 6957 ESE5020's Avatar
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    Quote Originally Posted by info@nsslending.com View Post
    Yep, that's the case... He has a number of satisfied UCC letters, however he says he overpaid Samson? and settled fully with Yellowstone-- no letter... Thoughts?
    if you can prove Yellowstone was fully paid off we would consider an offer, I'd have to look at it to give you a better idea but as long as the above mentioned checks out and he didnt all of a sudden change banks and name of business, we can look at it
    East Shore Equities, LLC
    Tel: (516) 784-4298 | Fax: (516) 231-5590
    www.EastShoreEquities.com

  7. #7
    Send the ISO doc. let's get this DONE!!!

  8. #8
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    what kind of receivables does he have? I'm willing to look at it for in-house

  9. #9
    ??? I don't understand...

  10. #10
    So you mean he reduced payment? If so, how long was the reduced amount for and did he ever get back to contractual terms?

  11. #11
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    Renegotiated as in lowered payments? Or literally went to the lawyers and force a renegotiation?

  12. #12
    No lawyers just changed terms and paid off...

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