[channin19]

I have deal that defaulted a while back. I syndicated the entire deal. Around 75k at a 1.28. ACH deal. This is the third round of funding. First two were paid back without a hitch.

Anyway, his balance is around 48k.
He is paying very sporadically, but he is paying. I set up a payment plan but he is not adhering to it. He provides me with checks when the money becomes available.

It is a local merchant so he stops by my office to reassure me that he will get me paid, but it might take more time than i have.

He seems pretty sincere. Do i keep on accepting the piecemeal payments or file a claim.

I am thinking of letting it ride. The cost to file a claim or suit is expensive, and the ability to collect if i get a judgement will be difficult. He says he just does not have the money.

Thanks for any insight.

The syndication partner is not really of much help.

try to rewrite the deal as a split and switch his cc terminals. Maybe add write in an additional weekly payment so that it speeds up the payback period.

[Chambo]

try to rewrite the deal as a split and switch his cc terminals. Maybe add write in an additional weekly payment so that it speeds up the payback period.

CC split with additional ACH payments? didn't BFS & MCC get pinched for doing just that in Cali?