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  1. #1
    Senior Member Reputation points: 99426
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    Quote Originally Posted by PRIMO CASH View Post
    Again, just because I like hearing everyone's perspective, on a $21,000 contract paying back $28,000 does the contract specifically state that the funders are purchasing the very first $28,000 of future receivables that hit the bank account?
    I've seen many contracts from many funders and I've never seen that type of phrasing.

  2. #2
    Quote Originally Posted by MCNetwork View Post
    I've seen many contracts from many funders and I've never seen that type of phrasing.
    That is loosely my point. This industry is so "new" in historical terms (at least compared to traditional banking), that any law suits that occur now are setting the precedent for future case law in this industry. And unless there is Federal regulation that specifically outlines what is legal and what is not, stacking will continue to be an issue. I personally welcome some regulation. But as they say, be careful what you wish for.

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