Like the song says, time waits for no one and it won’t wait for me. August flew by, and our 55th August is just about done and in the books.
It was a busy month but a good thinking and thunking month, especially once we figured out the foolishness of our driving almost non stop and learned to stop and sit and really soak in things so to speak, so we could still do good thinking and thunking.
When we realized we had driven over 10,000 miles in 100 days and were just running, that was quite a shocking surprise to us, and we immediately sat for a week and started working to get our head back in the ball game.
It took us a few days to assess our actions over the first 100 days, to tally up the pros and cons of our actions, things that were productive forward and things that certainly weren’t. lol We had gotten into a routine of making sure our clients were all set and that nothing else mattered, and with plenty of cash and plenty of time on our hands, we used neither wisely. With nowhere we had to be and nothing we had to do, we had fallen into a rut of thinking we were looking for direction when we were really just running. Oh well, another lesson learned, willy nilly without focus forward never works for anyone, but fortunately for us we have reached a point where most of our ruts don’t last long…
Everything is much better now that we have our head back in the game. Our thinking and thunking has greatly improved and we are back to taking care of our self internally focused forward and not just taking care of the clients and wasting time and money unproductively.
Thinking and thunking about our rut, we’ve been thinking that we let our success with our clients overshadow everything else and it contributed to our slipping. We have been whacking the crap out of the crooks selling illegal loans in the unregulated Merchant Cash Advance Industry. Apparently far more than we thought! One very foolish funder, so desperate for deals, actually thought that because one of their underwriters knew who we were sent the below with their ISO package. The libelous statements that follow “Here some highlights of our company.” were even highlighted bright yellow and were the only words highlighted. Too funny! They obviously think we are far more known and dangerous than we really are! The horrible grammar and such is too common throughout the industry, but for many funder company owners English is a second language. Nobody except who we may be visiting ever knows where we are and we would never tell anyone to default and have never had to! Fortunately, they sent the package to someone who thought it as funny as we did and forwarded it to us to laugh at.
Here’s what they sent:
Subject: Updated ISO Agreement…
(XXXX) Advance is a fast growing Direct Funding Company. We fund directly with our own capital we are currently experiencing the good kind of growing pains. We have a large amount of capital sitting idle available for funding however we are lacking the deal submissions needed to get our funds out. We are looking to build relationships with established ISO’s to fund their solid high risk multiple position deals. Here some highlights of our company.* We know where Rob Roy is at all times.. so we can assure he will not call your client and convince them to default!!!* 10 points on sell rate…* Our average deal is $50k, 4th position.* We will fund deals others may see as over-leveraged; up to 50% combined remit (meaning current ACH daily payments can equal up to 50% of monthly deposits).* Hard copy COJ not required.* Minimum stipulations (no rent checks or mortgage statements).
* Commission is not reduced on Renewals.*All positions pending review* No Affiliation with any other shadow companies and no in-house sales department (no worries about deals walking out the back door).* Every deal is reviewed on a case by case basis. Compensating factors are key!!!* I have moved away from Underwriting to assist in ISO Development (I have been Underwriting cash advance deals for 5+ years, I will assist in drafting contracts, expediting and structuring deals ensuring underwriting will not be backlogged with deals that have no chance of funding with us).If you do your part to submit strong deals; we will do our part to fund them.Thank you,(XXXXXXXXXX X XXXXXXX)
See, now that kind of stuff can go to your head, your ego! LOL Good for the ego is bad for the soul though! Like we’re the boogey man, baba yaga out of the John Wick movie, to these Russian funding company owners? How is that not too funny!!! For the record, of the funding companies we have dealt with or have knowledge of, they are all owned by Jewish or Russian or Russian Jewish owners.
We sent them an email that we would deal with their libelous statements if and when we could stop laughing, but that in the meantime they were welcome to make offers of settlement. Bwahahahahahahahaha…
We say this because they may be just trying to draw us out! We know that there are funders that have threatened us and our life and we know of some who want to drag us into court for interference or whatever. They have no case and it would only be harassment to waste our time and money! We operate for our clients with a Power Of Attorney and not as a separate entity, so we have no liability whatsoever and anything we do is as if the client is doing it their self.
We understand why some bad guys hate us, we are interfering with their illegal loan sharking business, educating more and more folks and more and more attorneys, and are helping push the policing of the industry towards regulation. We get it! We’ve saved clients already in trouble, prevented some folks from getting in trouble, gotten some in the industry to change their ways, even gotten some to get out of the industry. We are only educating folks, that’s it, and we have even had funding company owners say they understand but it is just business and they will do it until they can’t, and had owners offer us money to stop what we are doing and work for them or to at least stay away from their clients. lol
We knew who we were dealing with right from the gitgo. These guys are making money hand over fist and until regulation they will keep doing it at the expense of the small businesses throughout the country. They close them non stop, draining their revenue until gone. Even the above cover letter states these guys will fund a company so that half, HALF, of their monthly revenue goes to pay debt. How is that possible? What business can survive when half of every dollar that comes in goes to pay the debt? Businesses are forced to keep getting another one of these loans disguised as purchases of receivables to pay the ones they already have, stacking it is called, until they can’t pay, until the revenue is gone, and that’s after they have maxed out the credit cards, the mortgages, the personal loans, anything, to pay these crooks half of every dollar they bring in, until there is nothing left.
The system is letting them do it, it is good for Agenda 21, and most say any regulation, if it even comes, is still years away. These guys are destroying small businesses in every community and nobody is talking about it or covering it in the media. Nobody is pushing for regulation! The only thing we can do towards that goal is to pummel the courts with cases by getting as many business owners as possible educated and standing up to these crooks and / or going after them. The usury laws are clear! If a loan, and most are, they are subject to the usury laws, and illegal, which means the borrower is only responsible for principle, the amount actually borrowed, minus any and all of the ridiculous fees and interest they may have paid.
We will continue to educate as many as we can, that’s all we can do, but it’s the right thing to do. We’ll continue staying on the road in our RV, smart is smart, lol, and we’ve learned to use Tor for the internet, and throw away phones, to protect our location, safety and security first always. We could use some help but we’re still thinking and thunking on that.
The fun, the fun, the fun…
Enough rambling, we’ve volunteered at a local free meal program and have to get going, it’s our first meal. We figured out that if we have to get out of the rv so we don’t become a recluse we can do it productively and help others instead of wasting time and money bored and uninterested at clubs and lounges drinking, or worse. Now we find things we can volunteer and help out with for a few hours here and there if going to be around for a few days. We’re learning, we’re learning, lol, always forward…
Peace