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  1. #1

    Pc capital clawback (watchout)

    There is a guy name Paul from PC Capital.

    He brokered a file I funded it. Wise Counsel.

    Small file quick 12k and the merchant defaulted. Now the broker is not paying the commission back.

    It’s not about 1k commission it’s about ethics and honesty.

    Watch out.

    Regards,
    Wise Venture.

  2. #2
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
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    Quote Originally Posted by Cash_Hunter View Post
    There is a guy name Paul from PC Capital.

    He brokered a file I funded it. Wise Counsel.

    Small file quick 12k and the merchant defaulted. Now the broker is not paying the commission back.

    It’s not about 1k commission it’s about ethics and honesty.

    Watch out.

    Regards,
    Wise Venture.
    You have a claw back provision in your signed agent/broker contract?
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  3. #3
    because the broker had to pay the lender the 1k for clawback.

  4. #4
    Senior Member Reputation points: 14091
    Join Date
    Mar 2019
    Posts
    253

    Quote Originally Posted by Cash_Hunter View Post
    There is a guy name Paul from PC Capital.

    He brokered a file I funded it. Wise Counsel.

    Small file quick 12k and the merchant defaulted. Now the broker is not paying the commission back.

    It’s not about 1k commission it’s about ethics and honesty.

    Watch out.

    Regards,
    Wise Venture.
    These are the Isos that are a complete waste of time. They try to push their one or 2 bad deals on you. They harass you to hold back points or give them bonuses before they even fund one deal with you. Harass you for the commission mere seconds after the deal was funded. And they go MIA like a merchant when a deal goes bad.
    I agree with you that it is not about the 3 digit commission but about the principle and relationship. These isos are not worthwhile as they do not understand the value of relationships.

    I believe that they don't want to pay back the commission because they probably super brokered the deal and had to pay someone else...

  5. #5
    Yes I do but the broker is MIA

  6. #6
    Quote Originally Posted by Cash_Hunter View Post
    Yes I do but the broker is MIA
    he probably bet the JETS last weekend, if its in your ISO agreement send a Lawyer letter
    Joseph Cerullo
    Main Street Cash
    360 Motor Parkway, Suite 200B
    Hauppauge, NY 11788
    631-791-9626
    jcerullo@mainstreetcash.com

  7. #7
    Senior Member Reputation points: 14091
    Join Date
    Mar 2019
    Posts
    253

    Quote Originally Posted by joemainst View Post
    he probably bet the JETS last weekend, if its in your ISO agreement send a Lawyer letter
    One could do that, but sometimes if the commission is small it is just not worth it

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