[John Galt]

Beware, Powerup is backdooring. funded an existing customer of mine that I sent to them, then refused to pay commission on the account.

[Michael I]

What's all the details . Do you have an ISO agreement?

[anydealfunded]

The owners of power up have a 200 million dollar wallet. They aren't skimping on commissions. It was most likely submitted by another ISO.

[John Galt]

Yup. Not an issue of wallet. Have a deal already funded by them 105K. They additionally funded another 30K for same customer, took a 5k fee without my knowledge, then refused to pay on the new addition. Now when published I get a bunch of other ISOs who are reporting the same treatment.

[John Galt]

Nope, already my customer and funded. Charlie Mayo at powerup actually asked customer if they needed more...cut me out of the deal.

[anydealfunded]

Damn that sucks. Hope they rectify the situation.

[Michael I]

question to all the legal guys out there . is the iso agreements one sided , lets lender claw back etc . does it do anything for john in a case like this ?

[ridextreme]

how did they back door?

There are too many big players out there who've been around forever to keep shopping funders trying to make an extra point here and there.

[MCABroker]

Powerup funds millions a month, why would they skimp you on a 30k add on? What does the ISO agreement say about renewals and add ons?

[John Galt]

Wish I could answer that, funded 105 in Dec, then added on without telling me 30k with a 5k fee to client in May..never told me or paid me. Renewal agreement is at least 5-7 points...never paid and refuses to.

[John Galt]

RE: Powerup: Yes there are, but in this case they were the best deal for the client. Again they loaded the client without telling me or paying me.

[jotucker1983]

question to all the legal guys out there . is the iso agreements one sided , lets lender claw back etc . does it do anything for john in a case like this ?

I'm not a legal guy but I can tell you since selling these products starting in November 2009, the Broker/ISO Agreement changes on the fly whenever the funder/lender decides to change it. That includes the rules with how they pay renewals, if they are going to issue new deal volume minimums now, etc.

You usually have no choice in the matter, either you sign the new Agreement or they deactivate you as a Broker. Or at least, that's been my experience in the situation.

So it's sort of like, if you sign up with a funder/lender today that says they pay lifetime on renewals for the duration of the client's relationship, the question is are they going to change the policy 6 months from now and require you sign the new Agreement, or face deactivation of your ability to resell their program?

[John Galt]

Third message from ISOs that have been scammed out of commission or backdoored by PowerUp....I'm not alone in my complaint.

[John Galt]

Re PowerUp stealing,
Untrue, got 3 messages from other ISOs that had the same issues. In my case I submitted and funded 105K with them in Dec. They added another 30K in May incl. a 5k fee. Never paid me. Never told me. While working my renewals I found the deposit in their account.

[Eagle Funding]

Mr. Ketchup.....I mean Mayo has never screwed us on anything, and we have done business both ways with each other. Must be a misunderstanding or more details, I wish you luck on getting paid anything you might be owed, but big accusations like this scare people off from doing business with others.

[John Galt]

Powerup not paying:::That's why I posted it.... they funded the client a second time without telling us and didn't pay us...that's really all there is to it. Repeated requests for payment to Mayo and accounting go unheeded.