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10-17-2020, 08:51 AM #9
- Join Date
- Sep 2020
- Posts
- 33
I find DataMerch extremely unreliable- PayNet is the way to truly perform due diligence in my opinion. Even then, need to be careful and know who's reporting missed payments. I have a long time merchant who I have been funding for years, we wanted to switch lenders and get a buyout- the new lender tells me that there are 27 missed payments reported to PayNet, I check and see the same thing. This merchant has never missed a payment in her life- its a big file and the new lender tells me that this is possibly the old lender trying to keep the merchant in house. Un-real. Anyway- I spoke to the current lender and it was removed the same day without argument and stating it must have been a mistake- which seems to confirm suspicions. Gotta be careful and trust but verify all your partnerships...
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