[Sachip24]

merchant defaulted while back but is making payments back to lender. Has small balance with them about $1500.00 to go. Does about 20k a month is looking for 10k-15k if possible.

[Funder Mark]

So a guy doing $20k in monthly deposits is A looking for a 2nd position, and B defaulted on his first? Waste of time.

[Sachip24]

So a guy doing $20k in monthly deposits is A looking for a 2nd position, and B defaulted on his first? Waste of time.

well according to him, is was an error on the lenders part and even has letter from lender stating it was there error. I can not confirm that until tomorrow when they are in, but I have feeling its that he defaulted.

[Yankeeman07]

merchant defaulted while back but is making payments back to lender. Has small balance with them about $1500.00 to go. Does about 20k a month is looking for 10k-15k if possible.

If the merchant has credit card sales in excess of 8K per month and will consent to a lock-box,
we may be able to offer funding.

[Fundid]

Dog **** file

[rmckellar]

well according to him, is was an error on the lenders part and even has letter from lender stating it was there error. I can not confirm that until tomorrow when they are in, but I have feeling its that he defaulted.

it's always the lenders fault until you find out that the merchant took their money and refused to pay it back in accordance with the terms of the contract he signed. That payment plan is something he strong armed the lender into after he refused to make payments, probably claiming "he couldn't afford them" and "they're still getting their money back and a decent return". Every single one of these I've ever encountered has been a slimy merchant stealing people's money thinking he could get away with it and ultimately deciding to enter a payment plan once he was beaten into submission legally.

edit: if you see a judgment, I would assume it's a bad merchant and stay away from them before you work to get their file placed, convince a lender to fund him, and he gets your commission clawed back and you hold a black eye for trying to help someone. There is almost never a time that a judgment against a merchant would be the "lender's fault".

[RickyR3712]

well according to him, is was an error on the lenders part and even has letter from lender stating it was there error. I can not confirm that until tomorrow when they are in, but I have feeling its that he defaulted.

Your best chance is to have him renew and then give him a second.That will be the best proof that he did not default.