[killerspin]

Has anyone ever heard of this shop? I spoke to a merchant who said they were working with Sal and Lou at Westwood funding. The merchant needed 125k for a new project and already had 2 positions. He was very open with the fact that he couldn't currently afford his daily payments yet was actively seeking a consolidation. He then proceeded to tell me that Sal told him they could facilitate a 3rd for 75k, then soon afterward have an attorney's review their 3 contracts which typically results in a 50-75% payment reduction for all of their daily payment advances. This is disgusting. I advised the merchant to pay down their advances or use the reconciliation clause in their contract if they had to. He didn't even know what I meant by reconciliation clause. I'm aware this type of nonsense is happening all the time, but it floors me to see something this blatant.

I’m not even surprised there’s so many scumbags out there that ruin deals for everyone. Takes money from ISOs on renewals and obviously the funders. Sad part is this really screws over the merchant in the long run since they don’t seem to ever fully understand the repercussions when they default on multiple funders.

If more funders started going after debt settlement companies and the ISOs working with them, like Yellowstone and EBF did back in the day, I bet a lot more deals wouldn’t end up there…

[Dominick C]

954-350-0331 extension 1001 Bob you can call me and Id apprciate you getting facts straight before posting inaccurate info about my company