Results 1 to 7 of 7
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11-07-2023, 03:42 PM #1
- Join Date
- Oct 2014
- Posts
- 27
Refusing to Refund Overpayment
We signed up with a "funder" who was reaching out to us for over a year. We funded two deals with them and they've both been nightmare scenarios where they have done nothing they said they would do.
Realistically, we are probably going to have to stop doing business with them but they're trying to steal an extra 3 payments from a merchant.
I sent them the bank statements, with each payment made and bounced marked and the bank statements indicate they overpaid by 4 payments. They refunded 1 payment and still owe 3 payments.
Do you have any ideas on how to get this funder to refund the payments?
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11-07-2023, 03:49 PM #2
- Join Date
- Dec 2021
- Posts
- 213
Lawyers can be fairly persuasive
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11-07-2023, 03:52 PM #3Steve 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.
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11-07-2023, 03:54 PM #4
- Join Date
- Oct 2014
- Posts
- 27
I don't mind signing up for prepaid legal as I had them in the past. They didn't really assist with any issue I had in the past, are people having positive experience in situations like this?
Also, would they do work for a client of mine as the refund is due to the merchant and not to me directly?
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11-07-2023, 04:57 PM #5
I had a broker bad mouth me to a prospective client and I had legal send them a cease and desist letter...that shut them up. Client only wanted to do business with me and broker was trying to sell the high commission MCA. I still paid the broker...Broker wanted client to take WBL and I had hard money LOI.
Last edited by Olderguy; 11-07-2023 at 06:12 PM.
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.
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11-08-2023, 02:25 PM #6
- Join Date
- Dec 2021
- Posts
- 637
Marcus Clapman
Capybara Capital
marcus@capybarausa.com
www.capybarausa.com
646-708-5986 (Text Friendly!)
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11-08-2023, 02:51 PM #7
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