Results 26 to 43 of 43
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08-05-2020, 11:52 AM #26
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- May 2018
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08-05-2020, 12:29 PM #27
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- Apr 2014
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08-05-2020, 12:41 PM #28
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- Aug 2016
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08-05-2020, 12:46 PM #29
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- May 2018
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The complaint alleges that they only refunded the money if the merchant complained.
https://www.ftc.gov/news-events/pres...rcharged-small
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08-05-2020, 12:49 PM #30
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- Aug 2016
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- 831
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08-05-2020, 12:51 PM #31
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- Jun 2015
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- 3,325
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08-05-2020, 01:03 PM #32
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- Aug 2014
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- 194
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08-05-2020, 01:15 PM #33
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- Jan 2018
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- 519
Ryan I can’t imagine you made a single penny in MCA if you don’t know about the long list of funding companies that purposely continue pulling merchants accounts hoping the merchant is too clueless to notice.....
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08-05-2020, 03:34 PM #34
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- Apr 2014
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- 781
What does thst mean did they refund the money ?? Ricky...ill go in your house n borrow 300..without u knowing and bring it back..i gave it back. Shoplifting..just give it back. Of course there will be people who have to fight for there money...its a failed bs lending practice...filled with tons of deceit.
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08-05-2020, 03:43 PM #35
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- Jan 2018
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- 519
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08-05-2020, 03:53 PM #36
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- Jan 2019
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- 42
There are over 11 UWs at Yellow and they all operate separately and differently. They have only been fair with my merchants and while the charges against them may be true there is no way it happened or happens all the time. Logically they would push for the renewal anyways which means they would not be able to do that. (everyone knows how hard yellow is on renewing.
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08-05-2020, 04:14 PM #37
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- Aug 2016
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- 831
Golf are you that naive and innocent?I am saying they did not give back the money unless some one called and asked.Meaning they walked into your house and stole your money.If you caught them on camera than it was oops i just borrowed it.They walked away with hundred of thousands of dollars from merchants with 10 balances that could not keep track of the extra week of payments.Anytime I see a merchant that debits end and i do not see a refund,I tell them to call and ask for the last 3 payments back.
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08-05-2020, 04:16 PM #38
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- Aug 2016
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- 831
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08-05-2020, 06:24 PM #39
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- Jun 2017
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- 2,049
**** was easier back in the day when only Split Funding existed.
You kept your merchants, no stacking.
Once you built a book you could sit back and keep renewing them working 10 hours a week.
It may not be a bad thing to go back to that. As it seems none of these issues arose from split funding or actual MCA Splits.
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08-05-2020, 06:25 PM #40
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- Jun 2017
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- 2,049
Purposely? No.
Ive gotten calls from merchants saying so and so overpulled, and always straightened it out. But as a PRACTICE? No, I don't know anyone like that.
And I don't do it on deals I fund directly. But there is no getting around the 3 day lag from ACH's and Lockboxes.
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08-06-2020, 11:02 AM #41
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- Jan 2019
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- 42
Thryve, Green capital, Highspeed, westcoast, etc these are all yellowstone...
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08-06-2020, 01:07 PM #42
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- Feb 2018
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- 1,349
there was a migration to fixed daily than weekly throughout the industry years ago. The market began to dictate this model more than split funding. Investors preferred this model as well as it created an actual term length for repaying the debt whereas split was always guessed never known and merchant and brokers began to game the system by putting in new terminals, pos systems, to divert repaying. everyone joined the fixed daily or weekly bandwagon and here we are today. the problem with that is, a fixed daily or weekly and fixed term create a loan. and when you create a loan, you are now at the state and federal guidelines. this is why a handful or more of funders partnered with federally chartered banks to skirt usury laws in states. banks have exporting laws different from a state licensure. for those who didn't go in this direction, they are now under a microscope. Almost every first position funder went to the rent a bank model. if you ask those companies, they believe they will be left standing because they invested in this setup and compliance. only time will tell , but, you are right, an mca originated from the idea of purchasing future cc sales and repayment through split funding. today, out of every funding done, what does that represent 15% ? I don't know if that will come back
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08-06-2020, 02:05 PM #43
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- Feb 2017
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