[Fundyman]

Who funds a merchant regardless of the amount of a judgment?

I have a merchant who was just about to get funded when a judgment for $585K showed up on the CBR at the last second. Qualified for $75K otherwise.

[FUNd]

Who funds a merchant regardless of the amount of a judgment?

I have a merchant who was just about to get funded when a judgment for $585K showed up on the CBR at the last second. Qualified for $75K otherwise.

What's the judgment for? If it's a loan or lease, put the file in the shredder.

[ridextreme]

it didn't show up on the last second. It showed up on final uw review which is normal.

To answer the question, everyone funds with judgements. But when they are over half a million dollars, it is usually a deal breaker. But you will still get a dozen "I can do it" replies. Good luck.

[HDF]

Call Moose and Rocco

[R.Mobley]

Is the merchant on a payment plan? If so how long?

[FUNd]

Call Moose and Rocco

Sounds like those guys may be out looking for this guy already with a judgment that big. Mamma mia...

[Fundyman]

What's the judgment for? If it's a loan or lease, put the file in the shredder.

Guess the MCA option is out of the question for the guy... I have secured options for him, but that takes weeks. The funny thing is he was using the funds as part of a payment for the same company that had issued the judgment, and they were perfectly fine with in. Now the funds aren't available any more!

[Fundyman]

Is the merchant on a payment plan? If so how long?

Payment plan will happen today.

[Fundyman]

Sounds like those guys may be out looking for this guy already with a judgment that big. Mamma mia...

Tell me about it! But he was unfortunate to have a slower season this year due to a surgery earlier in the year that slowed him down. The judgment would have never happened otherwise. The company usually makes 4X the income they're making now due to him having been out for surgery.

[Fundyman]

it didn't show up on the last second. It showed up on final uw review which is normal.

To answer the question, everyone funds with judgements. But when they are over half a million dollars, it is usually a deal breaker. But you will still get a dozen "I can do it" replies. Good luck.

Thanks. I know the only real answers will say "I can do it if he's on a payment plan." That should happen today.

[Fundyman]

Call Moose and Rocco

Who's that?

[ridextreme]

Payment plan will happen today.

the odds of it happening without a payment history are still very slim. If I was uw'ing this deal I would assume he only signed the payment plan to get the advance, then he will most likely default on the agreement.

[Fundyman]

the odds of it happening without a payment history are still very slim. If I was uw'ing this deal I would assume he only signed the payment plan to get the advance, then he will most likely default on the agreement.

The only reason he applied for the advance in the first place was to pay the interest on the judgment. He was going to refi out of it in 3 weeks anyway. He hates cash advances. So, it would be a really quick turnaround.

[FUNd]

Who's that?

It's a joke. Like loan sharks, hitmen, you know..."You got our money or we break-a-you-legs..". Funny, I was watching 'The Profit' last night on CNBC and they blatantly referred to high-interest, short-term, weekly payment loans, from 'small' lenders (as opposed to bank loans), as 'loan sharking'.

[Fundyman]

It's a joke. Like loan sharks, hitmen, you know..."You got our money or we break-a-you-legs..". Funny, I was watching 'The Profit' last night on CNBC and they blatantly referred to high-interest, short-term, weekly payment loans, from 'small' lenders (as opposed to bank loans), as 'loan sharking'.

Well, believe it or not it's very similar in all concepts but the physical threat part. I got the joke late, btw, but placing a judgment on a company for that amount of money is almost like sending somebody after them!