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03-24-2015, 10:20 PM #1
- Join Date
- Jan 2014
- Posts
- 283
I agree, in principle with everything you just said....however why pass up on the business if you can get a consolidation done!! I've taken the hard role before with Merchants and it has worked a couple of times, telling them they have to wait it out....while a couple of times it has not. I also have paid off 3 advances...Merchant was able to net 50%. Sometimes they learn their lesson, sometimes they go ahead and do it again.
My opinion is that we have to self regulate. The stackers won't go away....too much money at stake. Maybe, if everyone could somehow all agree and make it official that no more than a total of, say 15%(as an example) of the Merchant's yearly gross can be pulled it will allow "responsible stacking" (best expression i could think of). Example:
John Smith grosses $100,000/year...his remaining balance is $9,000....someone can do a $6000 2nd which would cap it at $15,000 total.
Obviously more stipulations would have to go into it to make that type of situation feasible, but this way everyone would walk away happy; the 1st position shops, the stacker and a consolidation would remain viable...
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