More SBL Commission Issues/ Ryan Pasco / James Delices
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  1. #1
    Senior Member Reputation points: 107104
    Join Date
    Aug 2016
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    830

    Quote Originally Posted by Adam2326 View Post
    To put things in perspective here is what we are owed in total:

    $7,000 Commission on Funded MCA
    $4,588 in participation money for MCA's Paid In Full last month
    $11,195 Right To Receive from MCA participation
    $4,905.48 Commission on Funded MCA
    TOTAL $27,688.48

    Now the issue I also have with this situation is our Syndication numbers are as follows: Average Factor 1.52, Average Term 1.9 Months So simply the $7,000 commission being 30 days late cost us $1,820. Not to mention everything else... As this continues to drag out the loss continues to compound further. Not to mention the time wasted on the situation, the demoralization of the sales rep etc.
    The biggest crooks in this industry that will backdoor ,steal and not pay commissions etc. Do NOT mess with syndication because that is jail time. Ryan if you are not an owner do not walk RUN

  2. #2
    Senior Member Reputation points: 307559
    Join Date
    Jun 2015
    Posts
    3,322

    Quote Originally Posted by RickyR3712 View Post
    The biggest crooks in this industry that will backdoor ,steal and not pay commissions etc. Do NOT mess with syndication because that is jail time. Ryan if you are not an owner do not walk RUN
    ricky is right , not paying a commission is one thing.not paying syndication is a whole lot worse from a legal standpoint

  3. #3
    Quote Originally Posted by Michael I View Post
    ricky is right , not paying a commission is one thing.not paying syndication is a whole lot worse from a legal standpoint
    Agreed. And it was not until syndication funds weren't being paid out that any of this went public...
    Adam Wines
    Holloway Funding Group
    www.gohfg.com
    Processing@gohfg.com

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