Results 1 to 7 of 7
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02-20-2017, 10:18 AM #1
- Join Date
- Jan 2014
- Posts
- 1,380
Defautled but making payments
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.
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02-20-2017, 10:36 AM #2
So a guy doing $20k in monthly deposits is A looking for a 2nd position, and B defaulted on his first? Waste of time.
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02-20-2017, 10:51 AM #3
- Join Date
- Jan 2014
- Posts
- 1,380
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02-20-2017, 10:57 AM #4
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,993
10K to 15K
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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02-20-2017, 11:03 AM #5
- Join Date
- Jun 2016
- Posts
- 9
Dog **** file
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02-27-2017, 12:12 PM #6
- Join Date
- Apr 2015
- Location
- Morristown, NJ
- Posts
- 100
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".Last edited by rmckellar; 02-27-2017 at 12:20 PM.
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Rich McKellar
www.linkedin.com/in/richardmckellar
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02-27-2017, 02:12 PM #7
- Join Date
- Aug 2016
- Posts
- 831
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