PSA: Those who do business with The Plastic Merchant, beware of current issues
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Mods, I wasn’t sure where to put this topic but since I didn’t see it mentioned here, I thought it best to make GC resellers doing business with The Plastic Merchant that a lot of checks they sent have bounced. Sellers did not get a response when they let Mike, the CEO of TPM know about it. Apparently, his “staff” has sent out email recently that Mike is in the hospital. A lot of sellers are skeptical due to many who have reported bounced checks, some are in high four figures to low five figures.
If you’re affected, check Miles to Memories blog where there is a discussion of this issue and how sellers are coping with it.
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@ma-barker
More information was posted today @ DoC:
https://www.doctorofcredit.com/another-gift-card-reseller-goes-under/DoC took the time to explain what TPM does (they’re a secondary buyer of gift cards). It’s a cautionary tale about how things can go bad when selling your unwanted GC’s to a company who subsequently resells them.
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Latest update on TPM issue with no resolution in sight.
https://milestomemories.boardingarea.com/the-plastic-merchant-update/
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Latest update from from Shawn of Miles2Memories
https://milestomemories.boardingarea.com/the-plastic-merchant-website-closed/Hopefully, sellers kept their own records just in case as proof of how much is owed them that wasn’t paid.
