Results 1 to 8 of 8
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11-02-2023, 02:17 PM #1
- Join Date
- Aug 2023
- Posts
- 2
Reverse Consolidation...
Anyone recommend or know of a consolidation lender that will work with a merchant that has previously defaulted?
Merchant got talked into Debt Settlement in the past, has since had great payment history with multiple lenders but is currently a touch overleveraged and seeking a reverse. Revenue has been consistent.
Thanks for any input/advice.
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11-02-2023, 02:24 PM #2
most funders who offer rc's will not consider a merchant who previously defaulted
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11-02-2023, 03:15 PM #3
- Join Date
- Aug 2022
- Posts
- 14
Yes, we can consider if they have ZBLs
You can reach out at avi@alvaadvance.com or call me at 845-659-2686
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11-02-2023, 04:07 PM #4
- Join Date
- Nov 2019
- Posts
- 691
Someone talked him into doing debt settlement so did that same person talk him into talking multiple advance and becoming over leveraged and needing a reverse to save his business and not default again.
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11-03-2023, 09:15 AM #5
- Join Date
- Mar 2020
- Posts
- 133
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11-03-2023, 09:36 AM #6
- Join Date
- Mar 2023
- Posts
- 11
How long ago was the default? Is it satisfied? If it was over 3 months ago and is satisfied I know a few places that would take a look!
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11-03-2023, 09:40 AM #7
- Join Date
- Aug 2023
- Posts
- 2
I don't like to assume but.... merchant took an additional position as well as a renewal to facilitate some equipment purchasing. Already paying dividends but could use a little breathing room.
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11-03-2023, 10:34 AM #8
doesnt seem like its paying dividends if he needs a reverse lol....sounds more like he's f**ked!
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