[elklakebob]

Company is stonewalling my merchant regarding a payoff letter. Does anyone have a good contact over there that can help me out?

[FUNd]

Company is stonewalling my merchant regarding a payoff letter. Does anyone have a good contact over there that can help me out?

Keep trying to screw people and take hostages by playing little games with purposely delaying payoff letters, and some government agency has even more reason to slap down regs on the whole industry and MAKE you adhere to rules on how long it can take to respond to a payoff request.

Just keep it up...

[MCAVeteran]

Some rules would help this industry. It cant stay lawless forever. Pricing transparency, prepay discounts, specific timelines to provide payoff letters or a bureau could receive complaint, etc etc

[FCF Fund]

POWER LINE or POWERUP?

POWER LINE is the sales side of a well known lender

[ADiamond]

POWER LINE or POWERUP?

POWER LINE is the sales side of a well known lender

people were talking about how powerline took a turn for the worse a couple months ago. i know an iso that left and took his book with him he said some **** was going on over there.

see:
http://dailyfunder.com/showthread.ph...L-Your-Clients

[elklakebob]

Company is stonewalling my merchant regarding a payoff letter. Does anyone have a good contact over there that can help me out?

Forward Line is giving her the same run around. I've never understood company's doing this. Don't they realize that they're going to lose the client either way, isn't it better to treat them the right way, in hopes of getting the client back later. We all lose renewals from time to time, but I swear I get 80% of mine to come back to me because I always treat them professionally. The sweet part is once they come back to you, they are loyal for life.

[ridextreme]

Forward Line is giving her the same run around. I've never understood company's doing this. Don't they realize that they're going to lose the client either way, isn't it better to treat them the right way, in hopes of getting the client back later. We all lose renewals from time to time, but I swear I get 80% of mine to come back to me because I always treat them professionally. The sweet part is once they come back to you, they are loyal for life.

no, they are not going to lose the client "either way". When someone calls me for a payoff letter, I want to know what their offer is so I can offer them something better. It's done in a nice way, "Ok I will request it from accounting, BTW, are you going with another deal? Oh, ok just out of curiosity, what's the offer?"
You will be surprised how many people come right out and tell me or even go as far as forwarding me the contract so I can price them out of that deal.
But if they are not interested in a counter-offer or just want the payoff letter, it's sent out.
Tell her to threaten them that she is going to the BBB, FTC, NSA, CIA, Dept of Banking, Lawyer, whatever. then see how fast they sent it.

[NoBigDeal]

no, they are not going to lose the client "either way". When someone calls me for a payoff letter, I want to know what their offer is so I can offer them something better. It's done in a nice way, "Ok I will request it from accounting, BTW, are you going with another deal? Oh, ok just out of curiosity, what's the offer?"
You will be surprised how many people come right out and tell me or even go as far as forwarding me the contract so I can price them out of that deal.
But if they are not interested in a counter-offer or just want the payoff letter, it's sent out.
Tell her to threaten them that she is going to the BBB, FTC, NSA, CIA, Dept of Banking, Lawyer, whatever. then see how fast they sent it.

Definitely agree! Always good to know. When these situations arise, I ask the merchant if they're looking to use their own funds or another companies to pay us off. This way I know if they're getting pitched by a broker on an "amazing consolidation" or they legitimately have another offer on the table