Just when you thought the Saga As The Stomach Turns could not get worse … it did! Pay Day Advances on what little money Contractors make. I am not joking. Commercial Capital LLC has a great solution for the Contractors whom are getting 18 cents on the dollar. This is after the Work Order goes through the National, Regional and Otherwise Unspecified Order Mills. Here, let them put it in their own words,
http://www.youtube.com/watch?v=rSuNKypBVgk
How to Finance A Property Preservation Company. Jesus Christ! I mean I thought I had seen it all. Look, this is a great hustle. I mean you want to talk about ensuring a LIFETIME of involuntary servitude?! These guys have bona fide street cred, man. Let me put a spin on it,
Company A Order Mills out a Work Order through three layers of co owned Order Mills. The Contractor now is making 40 cents on the dollar — at twenty percent cut that is sixty percent. So, how about creating a Firm that will give advances on Pay and then hold out yet another twenty percent as Commission? So, we are down to around eleven cents on the dollar when you factor in their Interest Rate.
It gets better, though. So, if I control the entire Milling Process, all I do is simply generate a Charge Back. Is this sounding familiar yet? Ah, the Federal Reserve’s Fractional Based System — Modern Money Mechanics.
I am not implying that Commercial Capital LLC is involved throughout the process. What I am stating is that this is no different than the placing of Liquor Stores in the ghetto which take food stamps and ensuring grocery stores with wholesome food is far away; gentrification. This is predatory lending in my opinion. It is no different than the Pay Day Loan or Title Loan set ups you see when you drive by the poorer sections of town.
Anchor Funding has a similar set up with respect to large firms. The reality is that if you are talking about Invoice Factoring based upon sales of a Widget which are written in stone, that is somewhat legit. The Mortgage Field Services Industry is NOWHERE NEAR being legitimate.
If you are a Company in the Industry and do not have the ability to pay as you go, you probably should look at other Industries. This does not bode well in so many ways for the ma and pa folks just trying to make it. I mean now we are adding yet another layer of litigants to model. This model is beginning to look like something out of my Geology Class. The Consumer Financial Protection Bureau (CFPB) has already given the boot to many of the predatory loan outfits. Perhaps CFPB needs to take a closer look at what’s on the horizon here?
