Results 1 to 7 of 7
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09-14-2020, 03:42 PM #1
PAR ACH pulls?
Does anyone know if PAR started regular pulls again? We had a couple of our merchants mention that PAR started pulling again but they haven't spoken to anyone. They basically just continued pulling as if they never stopped.
Has anyone else seen/heard anything?
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09-14-2020, 04:06 PM #2
- Join Date
- Feb 2017
- Posts
- 3,388
Yes they have.
https://dailyfunder.com/showthread.p...l=1#post144982
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09-14-2020, 04:19 PM #3
- Join Date
- Apr 2018
- Posts
- 178
yes they are debiting as cbsg. i spoke to a couple of merchants, one said they were called about the debits but the other said he had no idea. also, they upped their dailies from $215 to $400.
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09-14-2020, 04:55 PM #4
- Join Date
- Jun 2014
- Posts
- 540
What is the Receiver doing about the open PAR reverse consolidations? Is the receiver started up the promised Reverse Consolidation weekly fundings yet? Or just collecting the daily pulls at the moment?
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09-14-2020, 09:17 PM #5
- Join Date
- Jun 2015
- Posts
- 754
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09-23-2020, 02:14 PM #6
- Join Date
- Sep 2020
- Posts
- 33
Yes, this has proved to be a problem with several merchants' files. Initially UW will see paused/stopped payments during the time they went into receivership, then MTD statements show them pulling again. A lot of lenders are staying away from going behind PAR right now.
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09-29-2020, 02:00 PM #7
It is the government pulling basically to get whatever outstanding balances they have to TRY and get the investors back their money. I know for a fact they are not funding anything at all whether it be a mca or reverse. Just pulling what they have out there.
Ricky Belle
Rapid-BC ( Direct Funder!)
President.
201-600-7411
Rbelle@tmfcapitalgroup.com
http://rapid-bc.com
http://fundrycap.com
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