Hello DF Vets, Noobs, and everyone who crosses out the word Broker and puts Funder! It's been a minute and I can't get in my *whoiskingsley (admin pls help) but I am just dropping in to give some advice.

Let's talk DEFAULTS - I keep seeing all these default posts going on. Let's focus first on the Funder default posts

Funders - The fact that you promote you fund defaults is puzzling to me. You have a deal that defaulted on a 1.40/8 mos and then you're going to now offer them a 1.65/35 days and expect them to payback? We're not going to get into standards because obviously you don't have any - but let's dig deeper.

REAL life scenario - Default funded in November. Payback 14,999. As of today - the Merchant has paid back over $17k and CANNOT reach the funding company. They have no idea who to contact. The Funder was one name, the contract another name, the ACH pulls were always changing. Merchant gets a text message from said funder - "Whats going on with your payments. You keep bouncing. Lets make this right" - What kind of collections and service is this? The merchant - not realizing he overpaid yet is spooked into sending a PAYPAL to satisfy the payment to a random Company that isn't even in our industry.

So, Broker so desperate to get default done now put this Merchant in a horrible situation for a few bucks. The Funder? Doesnt answer. Owes a lot in commissions to many Brokers - and is probably the dirtiest of all with over 5 different names ALL FOCUSING THEIR BUSINESS ON TAKING ISOS

Let's now focus on the ISO default request -

ISOs. Brokers - whatever you want to call yourself... If you have a default that has NOT in anyway tried to make things right - what makes you think they aren't going to do it all over again (#1) - they already know now they can get away with it. Fraud banks - fraud balance letters. You name it 1 out of every 500 defaults will have a second chance. You are better off just SAYING NO. Don't be a captain save a Merchant - Especially if youre working off a dialer calling leads you bought that everyone else is calling too - they are PLAYING YOU. It's sad but true but buyers are liars and this is industry the buyers are just as worse.

The default funders that you sign up with and work with WILL f*ck you and the Merchant 100% - consulting is key and an MCA isn't always the answer. If a Funder PROMOTES defaults - don't buy it. Say NO - move on to the next deal and put your energy into something that is going bring you more than a quick buck that you have to be scared for the WHOLE DEAL that they don't default and your commission is taken back. If they don't feel like paying you OR if they miss just ONE payment - you better kiss your money good bye. Also, don't try calling them either - because they will literally tell you "We don't owe you anything" CLICK*

That is all! Thank you for reading and know that this advice comes for a few long years dealing with the madness of this industry and feedback from hundreds of Brokers. My M.O. is help Brokers be confident - this is the way I do it

Happy Funding! - Kingsley

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