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02-17-2017, 03:02 PM #1jotucker1983Guest
My experience has been very similar to yours, where most of the consolidation deals go no where.
- When I refer to consolidation deals I'm talking a true/real consolidation, where the merchant has sales of $1 million with 3 balances outstanding that total about $80,000.
- The merchant's full approval based on his profile can be about $80,000 and that entire amount will go towards paying off the 3 outstanding balances with the merchant netting nothing, but in exchange getting a longer term/lower payment schedule to help his cashflow.
- These deals are very difficult to get done for a variety of reasons, as most of the true/real consolidation programs require the deal to be very clean, and most of the merchants in these situations will just not be very clean (it's why they stacked like that in the first place).
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