Early payoff

Candicew81
Contributor
Contributor
I highly suggest not doing an early payoff with the expectations of redoing the loan. And for goodness sakes don't call them about it. I had 2 loans paid the first one of in 3mths. Got a 2nd one the next day. Was a little bigger and took a little longer with slow sales in the summer but fall shot back up to my $20k in sales. I planned on paying it off and Friday and redo it to expand into a different type of product that would be year round but I wanted to call them and just check to make sure my account was in good standings. The guy on the phone told me they couldn't see anything and he couldn't tell me anything I would just have to reapply. Well I decided not to do it but my husband didn't get that message in time and he paid it off. Now we are not eligible again. I called to see if they could reverse it because paying that off puts us in a bind. They told me that I was not eligible for a reversal because I contacted them on Friday. However all of the information I asked for on Friday that he "didn't have" the guy gave to me on Monday. So they have the information they just don't/can't give it to us for whatever reason and now we are **bleep**! I used to recommend this to all of my boutique owner friends and now I will never recommend this to anyone again. I will be looking for other cc processing companies and just having all of my sales go to my bank from now on.
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