[fundnow]

I have a merchant that has 4 loans out and can't afford. He was going to default ,I convinced at least to lower his payments. He wants me to take care of that from him ex. Calling the companies that funded him. Should I do that?

[J_B]

I have a merchant that has 4 loans out and can't afford. He was going to default ,I convinced at least to lower his payments. He wants me to take care of that from him ex. Calling the companies that funded him. Should I do that?

Are you asking if you should call all 4 funders of his loans and ask on your merchant's behalf to lower the payments? Sure, give it a shot. It sounds like he didn't realize he was over leveraging his business with the loans, so he probably won't know how to explain it to the original funder, as well as the 3 guys who stacked him. I wonder if the stackers stacked knowing he was going to be over leveraged.

What other options were you considering? Consolidation into one loan and lowering the payments maybe? If someone is willing to do that, it could be another option.

[varela008]

We can look to do a consolidation but need specifics...

Reach out at

Robert Varela
VP - Business Development
robert@instafundllc.com
http://www.instafundllc.biz/
122 E 42nd St., Suite 2112 New York, NY 10168
Tel: (347) 658-1133
Fax888) 259-5884

[TedFundy]

Don't waste your time.

[Zach]

You don't want to be "that guy".

[brokerCompany]

Run away unless you want a lawsuit. Don't let his pathetic story trap you into his mess

[MCABroker]

Did you give him all four? You should have know that 4 advances will kill most merchants cash flow to the brink of bankruptcy.

If you did, you probably violated most of those lenders no stacking clause located in your ISO agreement. If this files ends up defaulting you most likely have a lawsuit on your hands if you placed this with a A paper lender like rapid.

This is my example of a few bad apples...

[dpFund]

Late to the game here but will at least throw in my two cents.

First of all, I agree with the comments above that reaching out to his lenders on behalf of your client is a big mistake. Think of it from a reputation perspective. Assuming it was not you who got him stacked in the first place...why would you establish a reputation with lenders for trying to convince them to take a loss on their client? You have a lot more to lose than gain. If you by chance did stack this client and he defaults...I would not want to be in your shoes when the stacked lenders come calling.

All that stated, if the client has an otherwise profitable business and he simply made the same error that thousands of other stacked business owners made (getting in over his head with payments), he could be a candidate for consolidation.

We consolidate a lot of clients in this position, getting their payments down to about one-third of what they are paying today, on average. But the financial stability needs to be there. It seems more often than not, clients like these are scrambling to lower their payments AND take out more cash since their business is in dire straits. "Just one more cash infusion will fix it, right?

Feel free to reach out if you would like to discuss.

Best,

Dan Page
Direct: (303) 938-8280
dan@fundingstrategypartners.com