Results 1 to 4 of 4
Hybrid View
-
01-11-2022, 10:07 PM #1
- Join Date
- Jan 2022
- Posts
- 6
Fund Debt Settlement Deals
I am a consultant working with several clients who got involved w debt settlement companies - they didn't realize how it really worked...
Does anyone work to consolidate / refinance multiple positions (up to 4) for clients working w a debt settlement company? For what it's worth, this DS company does insist on full repayment, just over a modified extended term.
I know this could be tricky; these clients have defaulted, not a ringing endorsement. But I do a detailed analysis of their company, operating practices, and financials. I only work w clients who can actually pay back the money they've borrowed. It's just that a debt settlement deal doesn't solve their problem - it buys them a little more time, but with the debt settlement fees, they are prob worse off.
I am NOT a lender, not a broker, not an ISO. I need to find a way to restructure clients' balance sheets with a debt service plan they can handle. In most cases, a 12 month term (at a middle-of-the-market money factor) will work.
Looking for anyone who wants to consider consolidating or even just willing to share thoughts / advice where to go...
Thanks
-
01-12-2022, 08:37 AM #2
There are people who will fund these "defaults" but you are looking at 1.49 factor rates and terms of 20 - 30 days. My honest suggestion is to have the company close their account and start over. Why throw good money after bad. Then hire an accountant or CPA to advise them financially to prevent them from doing this again. Most companies know their products but don't know how to run a business and that's what gets them into trouble.
Last edited by Olderguy; 01-12-2022 at 08:42 AM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
-
01-12-2022, 09:52 AM #3
Please PM me, I can get this done.
Frank Jacobs,
Funding Director
ProsperumFunding.Com
| Office | (929) 376-8912
| Fax | (888) 894-3518 or (212) 706-0117
| Email | FJacobs@ProsperumFunding.com
8 West 36th Street, Floor7 | New York, NY 10018
-
01-12-2022, 01:19 PM #4
- Join Date
- Jan 2022
- Posts
- 12
Sounds like this is a prefect fit for hybrid
Email us today Matthew@hybridadvancellc.com
s
Similar Threads
-
Debt Settlement Companies are Getting OUT OF CONTROL
By ryan $ in forum Merchant Cash AdvanceReplies: 7Last Post: 05-14-2019, 04:26 PM -
Business Debt Settlement
By jdlaw in forum Merchant Cash AdvanceReplies: 15Last Post: 01-16-2019, 04:26 PM -
MCA Debt Settlement
By RogueCaliISO in forum Merchant Cash AdvanceReplies: 3Last Post: 01-30-2017, 08:44 AM -
Debt Settlement Program
By FSB in forum Financial ServicesReplies: 0Last Post: 10-19-2015, 04:13 PM