Quote Originally Posted by ridextreme View Post
because they will still owe CAN 12K, and CAN already said they will not provide a zero balance letter unless it's paid. And settling for less than the agreed total is even worse then not getting a payoff letter. They will never be able to get money again.
If it was a cash advance, then CAN bought their future earnings at a discount, and now the merchant bought the future earnings back at a discount.