Results 1 to 11 of 11
-
04-17-2015, 01:12 PM #1
Is This Considered Stacking?
I have a client who has a current MCA, and I am working on getting him a ACH offer. Regardless of if the funding goes through or not, I am wondering on what consensus of the people here is, if they believe that is an issue.
The statements I had gotten from the merchant did not show the MCA, and I only found out after he told me that our contract might interfere with his previous contract. Is this considered stacking or not?
-
04-17-2015, 01:50 PM #2
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
The statements should show the MCA split unless you don't know how to recognize it. And yes, this is considered stacking. Even the merchant saw that.
Last edited by MCNetwork; 04-17-2015 at 01:53 PM.
-
04-17-2015, 01:55 PM #3
my guess is that they have another account where the debits are coming out of
-
04-17-2015, 01:56 PM #4
All I had gotten was the bank statements, not the processing statements, where I would have seen the split.
-
04-17-2015, 02:00 PM #5
- Join Date
- Sep 2012
- Location
- New York, NY
- Posts
- 1,780
The only way this isn't a stack is if the other funder didn't file a UCC because you can assume the first lien position.
-
04-17-2015, 02:12 PM #6
- Join Date
- Jan 2013
- Location
- Berlin, CT
- Posts
- 191
-
04-17-2015, 02:21 PM #7
All I had received from the client was the bank statements. They showed deposits from the processor, but just gave the amount. The only reason I know about the split is because the merchant told me.
-
04-17-2015, 02:53 PM #8
this is definitely considered a stack. If the first deal is a MCA you wont see payments in the bank only on the processing statements.
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
-
04-17-2015, 03:52 PM #9
-
04-17-2015, 04:21 PM #10
- Join Date
- Sep 2014
- Posts
- 430
If you have to ask if it is stacking, it is stacking.
-
04-17-2015, 04:26 PM #11
don't worry, Funder Mark, once the deal goes into funding and he is waiting for his money they will ask you for a payoff letter or UCC release on the split deal.
Similar Threads
-
Stacking
By debtman222 in forum Merchant Cash AdvanceReplies: 36Last Post: 10-24-2014, 02:25 PM -
Question- is it customary for commissioned sales reps to be considered W2's or 1099's
By JMKFunding in forum Merchant Cash AdvanceReplies: 4Last Post: 06-30-2014, 09:00 AM -
Instead of stacking... what if...???
By Ryan Shiroky in forum Merchant Cash AdvanceReplies: 45Last Post: 04-28-2014, 10:19 AM -
Sfs stacking
By gc543 in forum Merchant Cash AdvanceReplies: 3Last Post: 04-14-2014, 11:53 AM -
Stacking Madness
By jbrown in forum Merchant Cash AdvanceReplies: 84Last Post: 03-26-2014, 11:06 AM