Consumer Rights/Selling a private Note


Marc Faulkner wrote at 2011-09-01 21:38:52
FNAC is just a note buyer / investor just like 100's of other companies out there.  First National Acceptance Company has been around for at least 50 years and they are located in Michigan.  My company, also buys notes and has worked with FNAC on occasions, we usually offer better pricing and programs on commercial and residential real estate notes where as FNAC may be stronger on notes secured by land.  Please note that there are two ways to sell a note.  

You can sell the right to all of the remaining payments (a full note sale) or just some of the remaining payments, depending on the amount of money the note holder is looking for.  Some times it is better to sell off a number of payments versus selling off the whole note if you don't need all of the money right now.  I hope this helps.  

gbc wrote at 2015-07-06 02:34:29
Supposedly the BBB gave them excellent ratings - still would investigate further if you have financial planner, accountant or lawyer to help. Apparently they, at least in one letter I saw gave 79% of value - I could use the cash but would like it to be 90% since they still would make money with the interest. Be careful.

Consumer Rights

All Answers

Answers by Expert:

Ask Experts


George Allen


I am an expert in the recognition and investigation of fraudulent schemes. I can help people who are: 1. interested in understanding the systematics of fraud; 2. trying to determine if a specific set of facts belies a fraud; 3. want to investigate a fraud to aid future litigation; or 4. would like to know how to find help in finding a remedy to a fraudulent scheme. I cannot give legal advice, but I can provide general information about fraud investigations, and specific information about known types of fraud.


I worked for six years as a federal fraud investigator and as a private investigator. Also, I wrote book that describes fraudulent schemes, "The Fraud Identification Handbook."

I wrote book that describes fraudulent schemes, "The Fraud Identification Handbook."

BA and MSc.

©2016 All rights reserved.