[Franklin]

* The Case for Debt Relief

A 1.065 billion judgment against YS, with half used to cancel outstanding debt. The other half, ($514 million) is a judgment to be paid out by Yellowstone. Paid out to who?


In a typical DEBT RELIEF agreement, broker makes 2 to 5 points on the debt amount.

NY is charging almost 100 points on the debt amount, which is ironic, being that they just speared Yellowstone to the wall for allegedly doing just that.





* The Case for Communism

In Communism, you frequently see the redistribution of wealth from the top of the people, to the bottom of the people, with the government getting half of all the profits.

Does this sound familiar in this case? All the merchants got their money back, all gleaned from YS. And NY will be clearing the other half of the profits.



Did we just witness communism, debt relief, or a government helping out its citizens? Curious to hear viewpoints.





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[Shorebird]

YS ripped off customers and ISO's non-stop. They would buy an ambulance here and there for charity trying to absolve themselves. The entire group is a stain on the bottom of your shoe.

Nobody should be defending them at all. They were caught red-handed.

[Franklin]

YS ripped off customers and ISO's non-stop. They would buy an ambulance here and there for charity trying to absolve themselves. The entire group is a stain on the bottom of your shoe.

Nobody should be defending them at all. They were caught red-handed.

Definitely not attacking or defending. Just looking at it from a broader lens. The accusations brought against them about "high interest loans", if you take their definition the way they framed it, can technically be levied against most of the industry.

If you replace the name Yellowstone with another MCA provider and re-read the indictment, most (not all) would still be written the same way.



So I'm asking, if they can make this case for YS, could this be a precedent that they might use again in the future.





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[FCF Fund]

Definitely not attacking or defending. Just looking at it from a broader lens. The accusations brought against them about "high interest loans", if you take their definition the way they framed it, can technically be levied against most of the industry.

If you replace the name Yellowstone with another MCA provider and re-read the indictment, most (not all) would still be written the same way.



So I'm asking, if they can make this case for YS, could this be a precedent that they might use again in the future.





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This is a warning to the industry, especially the John Brauns and Isaac Sterns of MCA.

Clean up or they will come after you too. If you stay in compliance you wont have issues.

[Shorebird]

Yeah, I don't understand why the poster is defending YS.

[Franklin]

Yeah, I don't understand why the poster is defending YS.

I'm not defending YS, I'm taking a wide angle view at how these government actions affect the whole industry. Most of the established Isos in our space have utilized YS at one time or another, as they were known as a C-D paper lender that paid some of the best commissions and paid in a timely manner.

Of course YS had business practices that were not acceptable.... what I'm saying is that there are many other lenders with similar practices, including some of the A paper lenders.

The authorities were comparing YS to traditional financing companies, not comparing YS to other MCA companies. Using those metrics, if an authoritative body wanted to, they can theoretically create a problem for most MCA companies.






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[Johndough24]

You all made $ working with them. Stop talking about it. I'm sure uccradar was selling them leads at some point based on your tib.

[Franklin]

You all made $ working with them. Stop talking about it. I'm sure uccradar was selling them leads at some point based on your tib.

That was one of the points I made as well, and one of the legs I was alluding to. Many funder are similar to YS, (not specifically from an "illegal" standpoint) and many shops profited for a while.

They were spending 6 figures a month on marketing, much of it online, and when some of the funders backed by public money entered the fray and started driving up prices, they decided to move to a primarily ISO driven model. I recruited their director of marketing after he left YS.






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