About 2 years ago I opened up a merchant account with a credit card processing company called Card Service International so I could charge credit cards for my ebay sales instead of using Paypal. Well the first week of sales totaled about ,200 or so. A few days after charging the cards I still saw no sign of the money in my bank account. Then a few days later I saw a DEBIT for ,200 on my account from CSI (card service international). I called them about they explained that since my accoutn was new a red flag was triggered in their system and they were going to have their fraud dept review my account and until the review was complete they would have to chargeback all my recent orders. I explained to the man on the phone SEVERAL TIMES that they have never DEPOSITED the money from the orders into my account int he first place so they didn’t need to DEBIT my account because they never gave me the money to begin with that I had earned from the sales. Apparenly he didn’t care….
I researched the company and found several other complaints similar to mine that and that many class action lawsuits had been filed against CSI b/c they had a history of fraud. I quickly blocked all access to my bank account by this company and filed a chargeback to get my 00 back.

So this morning (2 years later) I wake up and find that I have some new info on my credit report. CSI is claiming that I have debts owed to them amounting ,500! I cannot imagine that the amount of money I owe them could possibly even be anywhere NEAR this amount. My merchant fees per month were only a minimum processing fee and a statement fee. How could I POSSIBLY owe them over 16 grand?

Now is it just me, or can they legally do that? There is just NO way I could owe them that much money. I don’t know what to do. Should I consult an attorney?

Technorati Tags: amount of money, card service international, class action lawsuits, credit card processing, credit cards, credit report, csi, debts, ebay, ebay sales, few days, fraud, merchant account, merchant fees, much money, processing company, red flag, several times

Hello .
I have this situation that i hope you can help me out with. My partner and I own a credit card processing company and been in business for about a year. In the the bank card industry there are two type of business people that are currently accepting all form of non-cash payment Visa, M/C etc.. , and business that are not accepting credit cards or checks these are considered or refered to as (NEW BUSINESS). Now the Exsiting businesses we dont make to much money upfront unless we upgrade there equipment and then we make big buck$$ and we get a residual on the account every month when they start processing with us which is nice, and the NEW Businesses we can either lease or sell them equipment that they need to start accept credit cards and checks now these type of business we make BIG BUCK$ for leasing or sell them the equipment and and like the exsiting business we also make a residual every month from there account. Business is good but it could be better. Latley I have been seriously considering going into business for myself which means i keep 100% of my money. The current agreement between my partner and I is 50/50 split and it’s been working out good but i want to make bigger moves which means i need more money. Now the reason that I even teamed up with my partner was because he was good at numbers and could read statements for exsiting businesses and give them lower rates which is important because we have customer that process anywhere from 0-1,000,000 a month so reading statements for high volume merchant is important and he has the ability to lease or sell equipment but he stronger at getting exsiting business then he is at getting new ones. Now I on the other hand am very good at getting new businesses i rather talk to a new business then an exsiting one.. WHY? if you asked.. it because there is only 24hr in a day and even though im owner of the business i try to work a 8hr shift everyday so i want to make the most money possible in the shortest amount of time …are you following me, I can also analize the statements for exsiting businesses not as good as my partner but good enough to get the job done. Now the agreement that we both have is that whatever deal we get we have to deposit 50% in our account and whoever brought that deal in gets to keep the remaining 50% of that deal and at the end of the month we split 50/50 what in our account. Now having my partner around will definately increase my residual portfolio but he doesnt lease equipment that much. Well to make this short DO YOU THINK THAT I SHOULD GO INTO BUSINESS FOR MY SELF AND KEEP 100% OF MY MONEY OR DO YOU THINK THAT I SHOULD CONTINUE THE AGREEMENT AND SPLIT 50% AND AT THE END OF THE MONTH SPLIT 50% OF OUR ACCOUNT.WHICH WAY DO YOU THINK ILL MAKE THE MOST MONEY.

Technorati Tags: accepting credit cards, amount of time, checks, credit card processing, high volume, leasing, much money, new business, new businesses, processing company, upfront, visa

Hello .
I have this situation that i hope you can help me out with. My partner and I own a credit card processing company and been in business for about a year. In the the bank card industry there are two type of business people that are currently accepting all form of non-cash payment Visa, M/C etc.. , and business that are not accepting credit cards or checks these are considered or refered to as (NEW BUSINESS). Now the Exsiting businesses we dont make to much money upfront unless we upgrade there equipment and then we make big buck$$ and we get a residual on the account every month when they start processing with us which is nice, and the NEW Businesses we can either lease or sell them equipment that they need to start accept credit cards and checks now these type of business we make BIG BUCK$ for leasing or sell them the equipment and and like the exsiting business we also make a residual every month from there account. Business is good but it could be better. Latley I have been seriously considering going into business for myself which means i keep 100% of my money. The current agreement between my partner and I is 50/50 split and it’s been working out good but i want to make bigger moves which means i need more money. Now the reason that I even teamed up with my partner was because he was good at numbers and could read statements for exsiting businesses and give them lower rates which is important because we have customer that process anywhere from 0-1,000,000 a month so reading statements for high volume merchant is important and he has the ability to lease or sell equipment but he stronger at getting exsiting business then he is at getting new ones. Now I on the other hand am very good at getting new businesses i rather talk to a new business then an exsiting one.. WHY? if you asked.. it because there is only 24hr in a day and even though im owner of the business i try to work a 8hr shift everyday so i want to make the most money possible in the shortest amount of time …are you following me, I can also analize the statements for exsiting businesses not as good as my partner but good enough to get the job done. Now the agreement that we both have is that whatever deal we get we have to deposit 50% in our account and whoever brought that deal in gets to keep the remaining 50% of that deal and at the end of the month we split 50/50 what in our account. Now having my partner around will definately increase my residual portfolio but he doesnt lease equipment that much. Well to make this short DO YOU THINK THAT I SHOULD GO INTO BUSINESS FOR MY SELF AND KEEP 100% OF MY MONEY OR DO YOU THINK THAT I SHOULD CONTINUE THE AGREEMENT AND SPLIT 50% AND AT THE END OF THE MONTH SPLIT 50% OF OUR ACCOUNT.WHICH WAY DO YOU THINK ILL MAKE THE MOST MONEY.

Technorati Tags: accepting credit cards, amount of time, checks, credit card processing, high volume, leasing, much money, new business, new businesses, processing company, upfront, visa

Hello .
I have this situation that i hope you can help me out with. My partner and I own a credit card processing company and been in business for about a year. In the the bank card industry there are two type of business people that are currently accepting all form of non-cash payment Visa, M/C etc.. , and business that are not accepting credit cards or checks these are considered or refered to as (NEW BUSINESS). Now the Exsiting businesses we dont make to much money upfront unless we upgrade there equipment and then we make big buck$$ and we get a residual on the account every month when they start processing with us which is nice, and the NEW Businesses we can either lease or sell them equipment that they need to start accept credit cards and checks now these type of business we make BIG BUCK$ for leasing or sell them the equipment and and like the exsiting business we also make a residual every month from there account. Business is good but it could be better. Latley I have been seriously considering going into business for myself which means i keep 100% of my money. The current agreement between my partner and I is 50/50 split and it’s been working out good but i want to make bigger moves which means i need more money. Now the reason that I even teamed up with my partner was because he was good at numbers and could read statements for exsiting businesses and give them lower rates which is important because we have customer that process anywhere from 0-1,000,000 a month so reading statements for high volume merchant is important and he has the ability to lease or sell equipment but he stronger at getting exsiting business then he is at getting new ones. Now I on the other hand am very good at getting new businesses i rather talk to a new business then an exsiting one.. WHY? if you asked.. it because there is only 24hr in a day and even though im owner of the business i try to work a 8hr shift everyday so i want to make the most money possible in the shortest amount of time …are you following me, I can also analize the statements for exsiting businesses not as good as my partner but good enough to get the job done. Now the agreement that we both have is that whatever deal we get we have to deposit 50% in our account and whoever brought that deal in gets to keep the remaining 50% of that deal and at the end of the month we split 50/50 what in our account. Now having my partner around will definately increase my residual portfolio but he doesnt lease equipment that much. Well to make this short DO YOU THINK THAT I SHOULD GO INTO BUSINESS FOR MY SELF AND KEEP 100% OF MY MONEY OR DO YOU THINK THAT I SHOULD CONTINUE THE AGREEMENT AND SPLIT 50% AND AT THE END OF THE MONTH SPLIT 50% OF OUR ACCOUNT.WHICH WAY DO YOU THINK ILL MAKE THE MOST MONEY.

Technorati Tags: accepting credit cards, amount of time, checks, credit card processing, high volume, leasing, much money, new business, new businesses, processing company, upfront, visa

My company is being sued for a large amount of money. Even though I am working with attorneys I’m having a hard time understanding how this whole judgement thing works. It appears my company ONLY will be sued according to threats from the collector and a copy of the suit. Also, I signed no personal guarantee. Even if they do sue me, I’ve been told by at least one attorney that I could fight that on grounds of being wrong or incorrect. At any rate, I want to know what the REAL process of collection is like in the worst case. Say they get a judgement against my company. Small business. I have no "assets" other than a corporate checking and a merchant account. I have some other savings that have been in my name personally for a long time and unfortunately haven’t been added to in years. Bottom line, what and how can these guys go after my only money to my name? Can they take my house? Can they somehow "freeze" my checking accounts? Wages aren’t an issue since I’m self-employed. Thanks .
Forgot to add there is rarely much money in the checking and merchant accounts as I wind up spending MOST of everything I make in business expenses and my basic living expenses (mortgage, etc.) I KNOW I don’t do perfect accounting but my biz is fairly new and I seriously doubt any small biz corporation could do it any other way in order to make a living.

Technorati Tags: accounting, amount of money, assets, attorneys, biz corporation, bottom line, business expenses, checking accounts, hard time, judgement, living expenses, long time, merchant account, merchant accounts, mortgage, much money, personal guarantee, small business, wages, worst case

I need to find a paypal alternative because paypal is making me angry. I hate them! I was hoping someone could give me some good information of a alternative to paypal that would allow me to invoice people via email and allow customers to make payments online via credit/debitcards or their paypal, google accounts without me having to have those memberships to receive the payments? I am a small business so I don’t want a merchant account because it costs hundreds of dollars to maintain a merchant account and I don’t make that much to need something like that. I like invoicing via email and receiving payments into an account I can transfer to my bank but paypal has too many issues and causes to many headaches and takes too much money. Anyone know of a great alternative?

Technorati Tags: debitcards, email, google, headaches, invoicing, merchant account, much money, paypal, small business