Two Defaults

**sufficientfunds** · 08-26-2016, 02:25 PM

I have a merchant that does 50 to 60K a month, has a 1st position of $18,000 with a company. credit is 500 and has 2 defaults. He is looking for $30,000. Can anyone help him or is this really "dead"

**John Galt** · 08-26-2016, 02:28 PM

Seriously??

**J.Celifarco** · 08-26-2016, 02:31 PM

do yourself a favor and burn the file.. You dont want banks thinking you are pushing them bad business and with 2 defaults this is a bad file.. The commission on the deal is not worth your reputation.. BURN IT

**sufficientfunds** · 08-26-2016, 02:33 PM

Lighting the match right now. Thanks

**nrh1lp** · 08-26-2016, 02:35 PM

might want to dump some gasoline on it for good measure

**J.Celifarco** · 08-26-2016, 02:45 PM

Originally Posted by nrh1lp

might want to dump some gasoline on it for good measure

not a bad idea, let people see the fire.. if you have the deal submitted anywhere call and tell them to kill the file. They will appreciate the heads up on a bad file.. They will probably see the defaults themselves but looks better coming from you

**Michael I** · 08-26-2016, 02:48 PM

Who is the first position lender ?

**sufficientfunds** · 08-26-2016, 02:48 PM

File already sent for cremation...... Thanks guys

**Zach** · 08-26-2016, 03:52 PM

If the client has real estate collateral, WBL will consider giving them a second chance. He will have to accept a minimum of $50,000 since that is our minimum loan size.

**Jonathon** · 08-26-2016, 07:26 PM

Originally Posted by Zach

If the client has real estate collateral, WBL will consider giving them a second chance. He will have to accept a minimum of $50,000 since that is our minimum loan size.

Its not dead until WBL says its dead! Put down the lighter and step away from the shredder...Email Zach the banks and app!!!!!

**Zach** · 08-26-2016, 07:38 PM

Originally Posted by Jonathon

Its not dead until WBL says its dead! Put down the lighter and step away from the shredder...Email Zach the banks and app!!!!!

Hahahaha!

**bdshaw** · 08-29-2016, 04:58 PM

Originally Posted by sufficientfunds

I have a merchant that does 50 to 60K a month, has a 1st position of $18,000 with a company. credit is 500 and has 2 defaults. He is looking for $30,000. Can anyone help him or is this really "dead"

Your client would benefit from this link
www.investopedia.com/terms/c/chapter10.asp

**AdvanceFund** · 08-29-2016, 05:03 PM

Originally Posted by sufficientfunds

I have a merchant that does 50 to 60K a month, has a 1st position of $18,000 with a company. credit is 500 and has 2 defaults. He is looking for $30,000. Can anyone help him or is this really "dead"

What do you mean by "2 defaults?" Meaning he defaulted on two funders or he has 2 missed payments with this first position?

Thread Tools

Display

Two Defaults

Similar Threads

Looking for very agressive attorney specializing in MCA defaults

Help me understand defaults please

words correlated with defaults

Collecting on MCA Defaults

MMPS LAW: Legal Collections on Defaults and Agreement Drafting

Posting Permissions