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  1. #1

    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

  2. #2
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    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
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  3. #3
    Member Reputation points: 222 Prosperum Funding's Avatar
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    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

  4. #4
    Sounds like this is a prefect fit for hybrid
    Email us today Matthew@hybridadvancellc.com

    s

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