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  1. #1

    Who Funds Defaults?

    I have 2 files. One does 100K in deposits, the other 300K in deposits. First, one credit is 570 and 2nd is 670.
    Both defaulted last year. The first also has some negatives in the last 3 months. Got a decline from yellow. Any luck?

  2. #2
    are they satisfied?

  3. #3
    Quote Originally Posted by SuperCloser View Post
    I have 2 files. One does 100K in deposits, the other 300K in deposits. First, one credit is 570 and 2nd is 670.
    Both defaulted last year. The first also has some negatives in the last 3 months. Got a decline from yellow. Any luck?
    Would they take 40 day deal to get the ball rolling?

  4. #4
    Maybe,... what would the offer be?

  5. #5
    Senior Member Reputation points: 25752
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    the moderator should ban your account for asking such a stupid question and putting funders money at risk

  6. #6
    You are a tool man. I am being very honest and transparent. I heard that there are funders who like these files. If you cant help move on instead of being negative. I never included any names for confidentiality. If this cant be done, funders will simply reply that its not possible. It was an honest question. You must be bored. Find some deals to work on.

  7. #7
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    Quote Originally Posted by SuperCloser View Post
    I have 2 files. One does 100K in deposits, the other 300K in deposits. First, one credit is 570 and 2nd is 670.
    Both defaulted last year. The first also has some negatives in the last 3 months. Got a decline from yellow. Any luck?

    You got a decline from Yellow - so that should provide you some insight.

    You don't mention the amount of funding they are seeking?
    Are those monthly deposits?
    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

  8. #8
    Senior Member Reputation points: 14091
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    Quote Originally Posted by Yankeeman07 View Post
    You got a decline from Yellow - so that should provide you some insight.

    You don't mention the amount of funding they are seeking?
    Are those monthly deposits?
    If YS knows its a default, they wont fund it. Its possible they dont always catch it.

    I had a deal that defaulted (paying collections) on us get resubmitted, and see that an "A" paper funder give the merchant money.....some funders dont care, some dont check.

  9. #9
    Banned Reputation points: 2321
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    We fund defaults, with or without satisfied judgements.



    Cy Eskenazi**| C.E.O
    305-467-2123
    cy@wgfinancinginc.com
    WGFinancinginc.com

  10. #10
    Senior Member Reputation points: 1519
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    These deals are doable, but usually funders that do fund them would start off with a small dollar amount short term starter deal, regardless of what the merchants rev is, they wanna see if there's long term potential, and if he wants to right his wrongs before they throw money at a previous default. (10-25k 30-45 days)

    being a satisfied default vs an open default would also make a big difference, and what the settlement was will make a diff as well.

    ClearFund does those deals as they come, but it's not what we're looking for.

    Thanks.
    Underwriting Desk | ClearFund Solutions | New York, NY.
    P: 855-543-2133 E: deals@clearfund.co W: www.clearfund.co
    _____________________________

    ClearFund is a Direct Funder
    ISO inquires: partners@clearfund.co

  11. #11
    We would provide factoring in a default situation. Let me know if I can help.
    Kevin Sampson
    Capital Solutions Bancorp
    http://capitalsolutionsbancorp.com
    ksampson@capitalsolutionsbancorp.com
    706-745-8435 Office
    561-436-5883 Cell

  12. #12
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    i am a tool & have no deals to work on coming from the guy who has so many deals that he has to fund defaults LOL thats a great business model you got going

  13. #13
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    Quote Originally Posted by SuperCloser View Post
    You are a tool man. I am being very honest and transparent. I heard that there are funders who like these files. If you cant help move on instead of being negative. I never included any names for confidentiality. If this cant be done, funders will simply reply that its not possible. It was an honest question. You must be bored. Find some deals to work on.
    Every funder would rather be told about the default than kill it in final with the iso knowing the whole time.

  14. #14
    Exactly Akanner... That is why i am always honest and transparent. They either want the deal or not.. Thank you

  15. #15
    @Harvey I never fund defaults! i don't waste my time on crappy files, but since it came through I might as well check to see if someone wanted it.. Anyways, best of luck to you

  16. #16
    Yellow won't fund a deal like that. If you want me to get this done for you I can but it won't be a great deal. Call me if you want more info.

    Jean Rousseau
    305 721 9374
    ww.progressivecapital.us

  17. #17
    Spartan Capital works with defaults!

    Reach out when you have one and I'll give you options.

    We like to do starter deals to get those merchant's back on track.



    Matt Spinelli
    ISO Manager
    Spartan Capital
    201-907-4042
    matt@spartancapitalgroup.com

  18. #18
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    One mans trash is another mans treasure!
    We fund defaults all day pending on the status of the default.
    Reach out for an ISO agreement
    JK@funduracap.com

  19. #19
    Thank you! @Mycmoneyman.. Gave you some rep points for that. Some people dont understand the value of being honest and transparent

  20. #20
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    Yes we at park east capital are funding all default deals B through D paper going out longer terms up to 110 days, fast response time and no credit pulls!
    Paying out high commissions!

    contact me:
    646-764-3282
    abe@parkeastcapital.com

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