Author Topic: The Plastic Merchant goes under?  (Read 5048 times)

Offline noturbizniss

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Re: The Plastic Merchant goes under?
« Reply #15 on: June 10, 2018, 12:21:43 AM »
One of the biggest players. One of the more scalable forms of generating points plus profit. Many many people are holding worthless checks for mega amounts of gift cards they sold to him over the past few weeks. If they try to recoup some of the gc value big buyers might find their gcs worthles and if the payment arrangement was not cc they are in trouble. Gonna roil a lot of that market and have an impact beyond that immediate business....
Exactly. Many people who had sold him gc have since drained them elsewhere when they heard his checks have been bouncing.
It's not the first time there have been jsuies, but he has always made it right. However it seems to be going on longer now without information.
As cmey said, even if he pays everyone, the fact the dozens of sellers pulled gc is not good, unless Mike has not yet actually sold them.
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Offline lunatic

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Re: The Plastic Merchant goes under?
« Reply #16 on: June 12, 2018, 09:43:11 AM »
Anyone here get screwed?

Offline noturbizniss

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Re: The Plastic Merchant goes under?
« Reply #17 on: June 12, 2018, 01:10:28 PM »
Anyone here get screwed?
hoepfully ill get made whole...
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Offline 12HRS

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Re: The Plastic Merchant goes under?
« Reply #18 on: June 12, 2018, 01:50:08 PM »
hoepfully ill get made whole...

Are you choosing not to go back and pull GCs you already sold that have a balance or do you not have any?

Offline noturbizniss

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Re: The Plastic Merchant goes under?
« Reply #19 on: June 12, 2018, 01:53:00 PM »
Are you choosing not to go back and pull GCs you already sold that have a balance or do you not have any?
I have none pending. It was a bounced check from cards sold in early may
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Offline 12HRS

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Re: The Plastic Merchant goes under?
« Reply #20 on: June 12, 2018, 01:54:39 PM »
I have none pending. It was a bounced check from cards sold in early may

you checked all your previous cards balances even on processed POs (i.e. something from april or earlier)?

Offline noturbizniss

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Re: The Plastic Merchant goes under?
« Reply #21 on: June 12, 2018, 01:55:38 PM »
you checked all your previous cards balances even on processed POs (i.e. something from april or earlier)?
Good point. I should check those see if I can pull some back. Thanks for the tip
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Offline PillanSmye

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Re: The Plastic Merchant goes under?
« Reply #22 on: June 13, 2018, 07:02:08 PM »
you checked all your previous cards balances even on processed POs (i.e. something from april or earlier)?

Trying to protect yourself against fraud by committing fraud is a slippery slope.  If you sold GC codes and were paid for those GC codes (you know, by a check that didn't bounce) then you have no legal right to those GC funds at a later date because of a separate issue with a subsequent order.

Offline 12HRS

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Re: The Plastic Merchant goes under?
« Reply #23 on: June 13, 2018, 07:53:52 PM »
Trying to protect yourself against fraud by committing fraud is a slippery slope.  If you sold GC codes and were paid for those GC codes (you know, by a check that didn't bounce) then you have no legal right to those GC funds at a later date because of a separate issue with a subsequent order.

IANAL and I was not recommending one way or another but is that true?

Offline mgarfin

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Re: The Plastic Merchant goes under?
« Reply #24 on: June 13, 2018, 09:54:00 PM »
The question is who's funds are you taking, the broker (The Plastic Merchant) or as this was sold you are taking money from  a 3rd party

Offline cmey

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Re: The Plastic Merchant goes under?
« Reply #25 on: June 13, 2018, 10:03:53 PM »
And right on cue Raise increases rates for sellers....

Offline 12HRS

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Re: The Plastic Merchant goes under?
« Reply #26 on: June 13, 2018, 10:56:55 PM »
The question is who's funds are you taking, the broker (The Plastic Merchant) or as this was sold you are taking money from  a 3rd party

im not sure. if there is still a balance decent chance its still in the brokers hands and was never passed along yet.

Offline noturbizniss

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« Last Edit: June 18, 2018, 10:49:44 AM by noturbizniss »
READ THE DARN WIKI!!!!

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Offline Mordyk

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Re: The Plastic Merchant goes under?
« Reply #28 on: June 18, 2018, 10:47:29 AM »

Offline noturbizniss

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Re: The Plastic Merchant goes under?
« Reply #29 on: June 18, 2018, 10:49:55 AM »
READ THE DARN WIKI!!!!

Chuck Norris...
...can still do FT method
...READS THE WIKI!!!