Results 1 to 12 of 12
-
04-01-2016, 12:33 AM #1
- Join Date
- Oct 2015
- Posts
- 42
Interesting
Probably not possible but trying my luck. Have a merchant that had 6 positions out and in December he had a heart attack which sent him to the hospital for 4 weeks. Basically his business was closed so he defaulted on all. But right after he started paying them again but he settled with all since they offered him a settlement. Right now he's doing 300k. On the 5 loans he's paying around $100 a day. Looking for around $100k.
Thank you
-
04-01-2016, 01:59 AM #2
If he has real estate collateral, WBL would be a good fit for this type of deal.
-
04-01-2016, 07:35 AM #3
- Join Date
- Jun 2015
- Posts
- 3,325
Wow so basically the guy who stacked him 6 times . Literally nearly killed him
-
04-01-2016, 09:08 AM #4
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
What's his business Nate?
-
04-01-2016, 09:17 AM #5
- Join Date
- May 2015
- Location
- NYC
- Posts
- 197
-
04-01-2016, 09:29 AM #6
- Join Date
- Jul 2014
- Posts
- 1,746
I'd be willing to guess it was more than one broker. By the way, WTF, I am SO tired of getting backdoored. Sent a deal out to the 2 biggest top tier funders in the space 2 days ago and the guy calls me literally fuming asking why the amount of cash advance marketing has quadrupled since he applied with me. If this is not the blatant theft of client information internally, I don't know what is. Looks like it's time for another sting op.
-
04-01-2016, 09:32 AM #7
Go for it, let us know how it goes.
-
04-01-2016, 09:39 AM #8
I wonder if there is any way to work with the credit bureaus, tell them you are running a credit sting for a specific person, see if afterwards, there is any way to remove all the pulls.
-
04-01-2016, 09:44 AM #9
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
-
04-01-2016, 09:58 AM #10
- Join Date
- Jun 2015
- Posts
- 3,325
-
04-01-2016, 10:18 AM #11
- Join Date
- Jun 2015
- Location
- Gainesville, FL
- Posts
- 200
-
04-01-2016, 11:19 AM #12
- Join Date
- Jul 2014
- Posts
- 1,746
When I am ready, I will. I can say I severed ties and let my known colleagues in on it. The problem with naming names on a public forum, is that if I don't have lock down 100% proof of wrongdoing, some fancy attorney will call it defamation and keep in in litigation for the next 5 years. I can say that what I found rose to the level of reasonable suspicion, and that is enough for me, but not enough for me crush names publicly.
I guess my point is bringing this out is that you as an ISO, should be individually vigilant with your deals and your lending partners.
Similar Threads
-
Interesting situation
By AlexSMF in forum Merchant Cash AdvanceReplies: 16Last Post: 01-30-2016, 07:00 PM -
Interesting Situation
By Funder Mark in forum Merchant Cash AdvanceReplies: 19Last Post: 12-16-2015, 12:50 PM -
Interesting Article in the NYT
By AndyYSCISOdept in forum Everything elseReplies: 1Last Post: 12-08-2015, 09:59 AM -
Interesting Read!
By mcaguru in forum Merchant Cash AdvanceReplies: 0Last Post: 11-23-2015, 03:04 PM -
This is interesting!
By CO1 in forum Everything elseReplies: 0Last Post: 09-27-2013, 09:25 AM