Quote Originally Posted by It's A Wonderful ISO View Post
Happy Friday folks, wanted to post a quick thread and light a fire on a subject that's been baffling to me in recent months..

MCA CONSOLIDATIONS

It appears to me that several lenders and institutions CLAIM they can do them but in reality seems it's all a smoke screen to data mine and get bigger deal flow...

I'm wondering if those of you that have ACTUALLY completed these would be kind enough to shed some light on an otherwise dark subject...if they were successful.. did it help the business.. Any details of who's actually done them, what type of business's received them, basic specs of the deals, etc.. I think this will help in many fashions, not just for the lenders that may be able to do them, but for the broker market, ISO market and the business's that are getting STACKED over and over and over until they bleed to death

I can't wait to see all the guys chyme in that say they can do them with little to no reputation.. Looking forward to some insight from the DF community
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).