[Michael I]

This is pathetic. Before you fund any more deals, why dont you work as an ISO, syndicate on all your deals, see how those deals turn out, see how their collections work, and THEN fund your own deals? You know, do what people call due diligence?

shhhh i want to fund with them while they dont know how to underwrite

[Funder Mark]

shhhh i want to fund with them while they dont know how to underwrite

Reminds me of Cap Assist when they first opened, must be over a year ago now, they funded 2 nice deals for me, no login, within 3 months both defaulted. I am not saying causality, but shoddy underwriting definitely exists.

[Opportune]

Reminds me of Cap Assist when they first opened, must be over a year ago now, they funded 2 nice deals for me, no login, within 3 months both defaulted. I am not saying causality, but shoddy underwriting definitely exists.

We probably worked together at some point...

[Funder Mark]

We probably worked together at some point...

We did.

[NewFunder80]

Are no there MCA companies on this forum that have ever filed a law suit against merchant for default or fraud?

Any collection agents ever heard of this?

Obviously it would be a last option, but I'm just wondering? Otherwise merchant could get funded and never pay us back.

I'm not talking about risk models, I'm asking has anyone ever actual filed a law suit?

[Sean Cash]

Are no there MCA companies on this forum that have ever filed a law suit against merchant for default or fraud?

Any collection agents ever heard of this?

Obviously it would be a last option, but I'm just wondering? Otherwise merchant could get funded and never pay us back.

I'm not talking about risk models, I'm asking has anyone ever actual filed a law suit?

Every legit company has...

[J.Celifarco]

Are no there MCA companies on this forum that have ever filed a law suit against merchant for default or fraud?

Any collection agents ever heard of this?

Obviously it would be a last option, but I'm just wondering? Otherwise merchant could get funded and never pay us back.

I'm not talking about risk models, I'm asking has anyone ever actual filed a law suit?

yes, but before you can think about this it matters how you are structured. Are you a loan or an advance? Does your contract have a personal guarantee? Can you legally have a personal guarantee in your contract for the state that you funded in.. There is more to the question then can you sue the merchant

[boomstik]

Are no there MCA companies on this forum that have ever filed a law suit against merchant for default or fraud?

Any collection agents ever heard of this?

Obviously it would be a last option, but I'm just wondering? Otherwise merchant could get funded and never pay us back.

I'm not talking about risk models, I'm asking has anyone ever actual filed a law suit?

I'm new to mca business but not the finance world.. I would assume work out a payment plan before lawsuit.. Otherwise they can go bankrupt and now all you have is a write off and no money

[skideeppow]

Are no there MCA companies on this forum that have ever filed a law suit against merchant for default or fraud?

Any collection agents ever heard of this?

Obviously it would be a last option, but I'm just wondering? Otherwise merchant could get funded and never pay us back.

I'm not talking about risk models, I'm asking has anyone ever actual filed a law suit?

Come on guy, are you for real? Are you ****ing with us here? Ever filed suit? Of course. This is a super lengthy processes and depends on the state you are in. You first need to serve said parties. Usually need to hire a process server or get a collection attorney. Once they are served, they probably wont show to the court date. Get a summary judgement then hit them with interogitores (sp). They probably wont respond then hit them with contempt of court citation. They need to show for this otherwise they will issue an arrest warrent. Get interrogatorries back and try and collect. Good luck. Oh, this could take 18 months to a year. If the deal is small dont even bother.
If you are so clueless that you do not know this, i would quit while you are ahead. And if you are trying to collect in CA, and you are not licenesed there kiss your cash good bye.

But really, you are way out of your league here.

[NoBigDeal]

This is a super lengthy processes... You first need to serve said parties... Once they are served, they probably wont show to the court date. Get a summary judgement then hit them with interogitores (sp). They probably wont respond then hit them with contempt of court citation. They need to show for this otherwise they will issue an arrest warrent. Get interrogatorries back and try and collect. Good luck. Oh, this could take 18 months to a year. If the deal is small dont even bother.

Don't want to steer to far away from the topic at hand, but...Benjamin Button much?