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  1. #1
    Member Reputation points: 10
    Join Date
    Jan 2020
    Location
    Hollywood, FL
    Posts
    10

    Exclamation default deal

    Merchant was promised by new lender they would reconsolitdate existing positions and new lender would pay off all open position.
    New lender ended up settling with the positions instead of paying them to satisfying free and clear.
    New lender told merchant to stop making payments to their open positions.
    Old lenders marked merchant as defaulted on the positions since it was settled at x amount instead of satisfied in full

    anyone can get an offer on this file?

    Please message me.

  2. #2
    Senior Member Reputation points: 35870
    Join Date
    Jun 2019
    Posts
    191

    seeing more and more of these stories. Its unfortunate. Don't waste time with it move onto other deals.

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