Results 1 to 11 of 11
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08-29-2019, 02:30 PM #1
- Join Date
- Feb 2017
- Posts
- 3,429
Biz2Credit Payoff letter
I haven't tried, haven't looked it up, I'm sure it's easy, but I'm just going for other people's experiences. How does a client get a payoff letter from Itria / Biz2Credit? Any direct numbers for either me (a broker) or the client to call?
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10-17-2019, 10:11 AM #2
- Join Date
- Apr 2013
- Posts
- 245
One of my ISO's has told me today that he's also having a hard time trying to get in contact for his merchant to get a pay-off letter. I hear there is a lot of shady stuff going on in that office. I also hear they are purposefully defaulting merchants as well... anyone else have any thoughts or experience on this?
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10-17-2019, 10:31 AM #3
- Join Date
- Nov 2013
- Posts
- 598
I have lots of experience with B2C. Very competitive rates that will beat ODC, very tight UW/ stips and outsourced collections center (India). They will file a COJ faster than your head can spin to enforce the contract, I had a merchant with modified payments and they filed on him even though hes still paying the weekly at 50% adjustment. Once merchant is funded they take complete control of communications so say goodbye to them if you fund with them, you will get paid commissions for renewal but just tough to work the relationship with.
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10-17-2019, 10:35 AM #4
- Join Date
- Jan 2014
- Posts
- 1,375
they will make your merchant go through hoops for over a week to get a payoff purposely.
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11-09-2021, 04:03 PM #5
- Join Date
- Oct 2014
- Posts
- 27
Did you ever get a payoff letter here?
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11-09-2021, 04:07 PM #6
- Join Date
- Oct 2014
- Posts
- 27
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11-09-2021, 04:22 PM #7
- Join Date
- Jul 2017
- Posts
- 548
On a side not, I one time tried to sign up with them because of the ridiculous deals they do but I was told by them that they only pay 2 points. Anyone have info on commission structure?
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11-09-2021, 04:34 PM #8
- Join Date
- Oct 2014
- Posts
- 27
Sounds about right. Told us 2 or 4 points depending on how we sell the deal which isn't really competitive in our world but they win some deals I suppose.
Payoff letter?
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11-10-2021, 03:05 PM #9
- Join Date
- Mar 2019
- Posts
- 105
Every contract also needs to be hand signed and notarize if I remember correctly. Also an in person site inspection on any deal above 50k. They are living in 2015 times.
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11-10-2021, 03:50 PM #10
- Join Date
- Sep 2021
- Posts
- 43
They told me 1.26 36 months paying 6 points.
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12-16-2021, 01:20 PM #11
- Join Date
- Feb 2017
- Posts
- 3,429
Did anyone ever figure out how to get the payoff letter from Itria / Biz2Credit?
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