Confusion about "Reconciliation"
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  1. #6
    Banned Reputation points: 10
    Join Date
    Apr 2022
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    3

    I funded a deal in October for 90k with a pretty well known lender ( i should say the name because of how it was handled but i wont bc its not my style). 3 weeks into it the merchant had an issue where his revenue was down. He went through his contract and saw a section in regards to reconciliation that basically said if he shows them his revenue is down they have to lower his payments. So they did. But they took a claw back from me. The merchant never missed a payment and until this day is still paying them weekly. They say they'll pay me when he's PIF ( it was a year term, so on lowered payments it could take 2 years) or when he goes back on regular payments and makes 4 payments in a row. I thought i was fcked over in that situation but whatever.
    Last edited by JoeCon123; 01-25-2024 at 10:03 AM.

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