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  1. #1
    Member Reputation points: 23 B2csp's Avatar
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    Sep 2016
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    Florida
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    PAR ACH pulls?

    Does anyone know if PAR started regular pulls again? We had a couple of our merchants mention that PAR started pulling again but they haven't spoken to anyone. They basically just continued pulling as if they never stopped.

    Has anyone else seen/heard anything?

  2. #2

  3. #3
    Senior Member Reputation points: 31326
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    Apr 2018
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    180

    yes they are debiting as cbsg. i spoke to a couple of merchants, one said they were called about the debits but the other said he had no idea. also, they upped their dailies from $215 to $400.

  4. #4
    What is the Receiver doing about the open PAR reverse consolidations? Is the receiver started up the promised Reverse Consolidation weekly fundings yet? Or just collecting the daily pulls at the moment?

  5. #5
    Senior Member Reputation points: 97075
    Join Date
    Jun 2015
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    754

    Quote Originally Posted by BB_Cooper View Post
    What is the Receiver doing about the open PAR reverse consolidations? Is the receiver started up the promised Reverse Consolidation weekly fundings yet? Or just collecting the daily pulls at the moment?
    I’d love to see the government approving Reverse deals. That would be hot

  6. #6
    Quote Originally Posted by happyman View Post
    yes they are debiting as cbsg. i spoke to a couple of merchants, one said they were called about the debits but the other said he had no idea. also, they upped their dailies from $215 to $400.
    Yes, this has proved to be a problem with several merchants' files. Initially UW will see paused/stopped payments during the time they went into receivership, then MTD statements show them pulling again. A lot of lenders are staying away from going behind PAR right now.

  7. #7
    Member Reputation points: 10 Ricky Belle's Avatar
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    Location
    NY, NY
    Posts
    21

    It is the government pulling basically to get whatever outstanding balances they have to TRY and get the investors back their money. I know for a fact they are not funding anything at all whether it be a mca or reverse. Just pulling what they have out there.
    Ricky Belle
    Rapid-BC ( Direct Funder!)
    President.
    201-600-7411
    Rbelle@tmfcapitalgroup.com
    http://rapid-bc.com
    http://fundrycap.com

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