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01-17-2017, 03:45 PM #1
- Join Date
- Oct 2016
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- 4,318
Why would they owe them? This is simply a negotiated settlement to payoff early. In return for paying off early CAN simply agrees to take a haircut (as theyve been offering for a long time).
I literally had a client that owed CAN $76K and got CAN to agree to $60K so the merchant could meet the 50/50 split on a new $120K advance from another funder. They had no problem with it, nor did the new funder.
CAN needs money, and will take a haircut to reduce their risk and bring in cash. They'd rather take a small haircut, then risk being stacked right now.
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01-17-2017, 05:47 PM #2
- Join Date
- Jan 2015
- Posts
- 127
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