Factoring company holding me hostage

That's one of the real problems with factoring companies. It's not so much they aren't giving him what's owed. It's that the op broke the contract and now owes a penalty, which happens to be more than the factoring company owes him. Also shows why factoring is typically a bad idea.

Took on a bad broker, and got hosed. Didn't have the money to cover the advance the factor gave him and in trying to pay it back didn't have to money to pay for insurance. Insurance canceled so did the authority automatically. Since the authority canceled that triggered the penalty clause in the contract making him owe even more money.

So yes get a lawyer and here's the kicker. Listen to him!
If he says you don't have a case, a second opinion is fine but don't keep throwing good money after bad.

 

would bankruptcy save you from the debts..??

consult an attorney

 

You won’t like what I am going to say but if you can’t afford a lawyer while owning a truck, you have no business being an owner operator.

This shows how much of an issue people have with money issues, especially when they need legal advice in an industry that is a target for litigation and abuse.

never think a lawyer is the last resort, the world doesn’t work that way, they need to be your first stop when you have contracts to be signed and the first place to go to when there are problems.

you need to sue this company, and with a good lawyer who can recover both the money you are owed, the interest and legal fees involved.

 

"They are pretty much intent on stealing my money."
As true a statement as ever was, of anyone else having grasp temporarily on "your" money.
Heirs to be, assigns, and types of finance factors.

 

Hi There, do you have constitutional rights, Civil Rights & human rights and this is called unfair business another factor that can’t be ignored you can sue. You can take them to court and you can file a lawsuit against him, pro se to bring it before a court of law, where the judge will win the fair and impartial decision which will allow you to opportunity to appeal if need be, you can also file a lawsuit against the factoring companies for breach of contract. What are the reasons why you wanted to pull out of the deal on the contract was it because they breached it, then you name it and you say it as such and if you file a lawsuit against that factoring company, a lawyer will take on your case for free and take collect any and all money once the case is settled, thank you

 

Hi there, there’s a thing called breach of contract. You also are protected in the United States as a United States citizen by your constitutional rights, and no matter what one must uphold fair business practices. That doesn’t interfere with your human rights or civil rights that you have an any work place. Too no one is above the law not even the President of the United States of America. also violates the antitrust law under the Sherman act. No your rights go to law, federal law, library, the library, and will aid in assist you in filing any claim against this Factoring company with the courts and the courts will have to honor it and hear your argument file that yourself represent it on file for Pro-we

 

Request for Investigation into Unfair Business Practices and Discrimination by TBS Factoring Company

I am writing to bring to your attention to the grave violations of my human Civil rights committed by TBS Factoring Service. Their actions amount to discrimination, fraudulent activity, and a breach of fair business practices, which have had a detrimental impact on my small business and personal well-being. I believe it is crucial to launch a thorough investigation into these matters.

TBS Factoring Service has engaged in unfair business practices that violate anti-trust laws. They have employed fraudulent tactics, such as reoccurring billing and chargeback fees, to prevent competitors from acquiring my business. The excessive chargeback fees have severely impacted my revenue stream, putting my company in great danger. Moreover, TBS's refusal to provide accurate data on the exact amount owed for these fees, along with the multiple instances of double and triple charging, has caused significant mental anguish and suffering.

Additionally, TBS Factoring Service holds the financial rights to invoices issued by the original lender, effectively controlling my business account. However, they have failed to uphold their contractual obligations, resulting in them wrongfully extracting over $50,000 from my company fraudulently. As a Result of TBS Factoring service holding my NOA, I cannot switch over into another factoring service , until all chargebacks fees are paid in full. TBS continuously recharges me previously payed chargebacks to prevent me from leaving TBS and progressing to E Capital.
Furthermore, TBS orchestrated a series of unauthorized actions, such as opening old age RateCons and invoices, repeatedly paying me for the same accounts, and subtracting factoring fees from invoices without my consent or notification. This not only demonstrates their disregard for the contract but also raises concerns about discriminatory practices based on my social and economic background as an individual from a disadvantaged community.

Despite my repeated pleas for assistance, TBS Factoring Service has continuously ignored my requests for crucial information regarding chargeback fees and other relevant data. Their lack of transparency and failure to address the missing and incomplete information in a timely manner has further exacerbated the situation. For instance, TBS charged me back $8,500 for a law I took for Scott Logistics PA, only to later claim that they had paid me out three times for the same amount. However, they have failed to provide any evidence to support their claims, even after reaching out to relevant parties involved.

The actions of TBS Factoring Service have caused significant harm to my business and personal life. By admitting to depositing over $100,000 into my account illegally and without my knowledge since 2019, they have violated fair business practices and breached our contractual agreement. This has resulted in the denial of fuel advances and other benefits outlined in the contract, further impeding the growth and stability of my small business.

In light of the aforementioned egregious conduct by TBS Factoring Service, I urge you to initiate a thorough investigation into their unfair business practices, fraudulent activities, discrimination, and mishandling of documentation. I kindly request your immediate attention to this matter, as it is crucial to protect the rights of small business owners and ensure that companies are held accountable for their actions.

Thank you for your prompt consideration and assistance in this urgent matter.

Tina Flowers

 

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how did they complaint come out I’m very interested in that because I feel like I’m having the same problem with the same company