[Michael I]

Something needed to be done about these excessive stackers a long time ago. 1st position lenders can easily fight back by adding amendments to Merchant Agreements that clearly state that if they STACK another advance on top of their advance, then an additional $5,000 or so would be tacked onto their total balance. That right there would cut down on this insanity, just like adding an Early Termination Fee to merchant account contracts, cuts down on merchants switching their merchant account every month to another ISO to "supposedly" save $5 a month.

It's just getting ridiculous, merchants are letting some "guy" on the telephone talk them into stacking a 3rd and even 4th position without doing literally any calculation on how much is coming from their monthly gross to payback the advances.

Sometimes you would see merchants paying over 40% PER MONTH of their gross sales to cash advances. Then after putting themselves in this deep hole, the merchant wants to get on the telephone crying about how they somehow got "scammed" when they refused to pull out a damn calculator, and calculate how much they were going to be paying back a month to all of these damn cash advance companies.

The 1st position lenders shouldn't just be suing the excessive stackers, hell, sue the merchant as well. Sue him for not being able to do basic math if anything.

Joe take a look at swifts contracts they have that 5 k thing