I just used 5% as an example. I'm not aware of what RX charges as a broker
and what the customer would be charged would be dependent upon what offer
from the market they accepted.
Christopher Johnston
On Wed, Apr 21, 2010 at 1:46 PM, Ron Johnson <ron.l.johnson@cox.net> wrote:
> On 2010-04-21 11:47, Chris Johnston wrote:
> [snip]
>
>
>> It is the exact opposite of what you discovered "slicing and dicing"
>> through
>> the marketing. Small contractor X selling his receivable from GE that
>> won't
>> come for 120 days for, say a %5 discount for payment now , is far
>> different
>>
>
> 5% discount from 4 months? That's (*roughly*) 16% APR. It's been a long
> time since I've cared what bank LOCs are, but they can't be that high...
>
> One thing, though, is that TRE *guarantees* that your money arrives *now*
> instead of *probably* some time later.
>
>
> than the small collection company you portray them as. I don't meant to
>> piss
>> anyone off but it might be beneficial to do more research before tearing
>> the
>> down the companies that are helping to build the tech economy in New
>> Orleans.
>>
>
> I'm *not* bashing; I just want to cut to the heart.
>
> Chris' explanation is excellent.
>
>
> Christopher Johnston
>>
>>
>> On Tue, Apr 20, 2010 at 4:12 PM, Ron Johnson <ron.l.johnson@cox.net>
>> wrote:
>>
>> On 2010-04-20 14:36, Mike Walker wrote:
>>>
>>> exciting things going on at the Receivables Exchange. I joined a few
>>>>
>>>> After reading the web site and slicing through the marketing, it seems
>>> that
>>> what RX does is broker uncollectable debt from small businesses to
>>> scavenger
>>> collectors, probably at a steep discount.
>>>
>>> Doesn't sound as glamorous as "Receivables Exchange", but someone's got
>>> to
>>> do it...
>>>
>>>
> --
> Dissent is patriotic, remember?
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Received on 04/21/10
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