Montgomery Mortgage Capital Parsippany NJ - IMPLODED in 2007

Dud? Joined: 29 Mar 2008 Posts: 4

Mid October moves out in a day with no warning to 7 Ridgedale Ave in Cedar Knolls. November 1st Owner lays off everyone until funding can be found to pay back over $5,000,000 in debt. Several failed meetings later quitly shuts down to avoid anyone he owens money too. Owner now a sales manager at The Money Store in Florham Park NJ and owes debt to warehouse banks , but to creditors and back pay to all employees ( anywhere from a check to 5 paychecks)

website is up , but try to call them.

Aug 2006 was doign over $20,million a month in fundings. Company was worth over a billion. [deleted]

I do not see this comapny on the meter and see smaller ones

Cherry Bomb Joined: 07 Dec 2007 Posts: 156

I bet alot of ex-Champion people were there

Dyn-o-mite! Joined: 13 Dec 2007 Posts: 384

NoMoreBSloans wrote:

Mid October moves out in a day with no warning to 7 Ridgedale Ave in Cedar Knolls. November 1st Owner lays off everyone until funding can be found to pay back over $5,000,000 in debt. Several failed meetings later quitly shuts down to avoid anyone he owens money too. Owner now a sales manager at The Money Store in Florham Park NJ and owes debt to warehouse banks , but to creditors and back pay to all employees ( anywhere from a check to 5 paychecks)

website is up , but try to call them.

Aug 2006 was doign over $20,million a month in fundings. Company was worth over a billion. [deleted]
BTW, Bear Sterns must be worth a Trillion dollars according to your math. A company doing $20mm per month is worth nothing close to a billion, probably nowhere near a million.

I do not see this comapny on the meter and see smaller ones

Posted: Sat Apr 05, 2008 5:50 pm

NoMoreBSloans wrote:

I do not see this comapny on the meter and see smaller ones

We're not clairvoyant! I'll look into them.

If you know of a company that should be listed (check our "About" page for threshold requirements), email the tip line at ml-feedback@ml-implode.com.

Dud? Joined: 29 Mar 2008 Posts: 4

Robin wrote:

NoMoreBSloans wrote:

I do not see this comapny on the meter and see smaller ones

We're not clairvoyant! I'll look into them.

If you know of a company that should be listed (check our "About" page for threshold requirements), email the tip line at ml-feedback@ml-implode.com.

I was not making a stink. I just wanted to bring them up since I know they were bigger than a few I saw listed and felt I would add them to the list since no one reported they closed quietly.

Dud? Joined: 06 Apr 2008 Posts: 1

Yes Montgomery Mortgage is much bigger than companies that have been listed but with 274 gone down already is it really such a big deal anymore. [deleted]

Thanks,
Unemployed LO

Dud? Joined: 29 Mar 2008 Posts: 4

FLunemployedLO wrote:

Yes Montgomery Mortgage is much bigger than companies that have been listed but with 274 gone down already is it really such a big deal anymore. [deleted]

Thanks,
Unemployed LO

[deleted]

Dud? Joined: 29 Mar 2008 Posts: 4

can we add them? I really think the should be listed

Dud? Joined: 16 Apr 2007 Posts: 22

wow, yet another company I worked for on this list. Oh well,