ComplaintsforQuickpay Funding

• Initial Complaint

  11/29/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I signed a contract with this factoring company in march 2016. Around 2020, I started having issues with them. They take money from the reserves accounts and will start deducting money from my bank account, without authorization or explanation, and when I tried to ask every time they will say because a broker didn't pay an invoice and have to recharge back. Every time I would ask for details of amounts and the name of the brokers and never gave me this. For the past years I have try to come to an agreement with them to get my contract terminate and they refuse to give me the release, claiming that i Owned money, which I should owned it, I know I have over 60k in my reserves accounts, this money was deducted from my invoices or payment back from brokers that i already cover. Due to all this issues i stop my business. At this day I've try to connect with them multiple emails asking for details where my money went and asking for the release letter, no communication from them. on the 26th of this month, finally somebody reach out to me by email and claiming if I pay them 10k dollars they will settle the account and give me my release letter, but they refuse to provide details. I'm asking the BBB to please get involve and help me to end this nightmare, since I'm not the only person they have done this. I need to start running my business again, but they have stop me since they refuse to give me my release.

  

  Business response

  11/29/2022

  This is not a legitimate complaint as this is currently being handled by our legal recoveries team due to extensive losses, fraudulent practices, and mismanagement on the part of the complainant.  Our legal team has been in contact with **** and he refuses to own up to the extensive losses that our company incurred as a result of our funding his business.  Our legal recoveries team made him an offer to release his account and move on and we do not consider this complaint to be either based in fact, nor legitimate.  **** knows very well that we have absorved losses in the tens of thousands of dollars and does still refuses to own up to his responsibilities. We will bring this illegitimate complaint up to him and consider escalating further legal actions due to his continued denial.  We provided the information and details requested by **** numerous times and at this time we can only speak with him through our Legal Recoveries Team so that we can continue running our business.  BBB can get involved and will see that we are owed tens of thousands of dollars due to ****** mismanagement, fraudulent practices, defaults, and harrassment. ****, stop trying to avoid your responsibility and own up to it.   You know very very well that no other factoring company in the industry would have been as generous and kind to you as we did, providing you numerous trucks and trailers free of charge to you for your use just so that you would turn around and show us tens of thousands of dollars in financial losses.  Please contact ***************************, our Director of Risk and Recoveries to negotiate a proper separation because we are tired of hearing from you when in reality, we are the ones that have suffered financial losses due to your relationship worth tens of thousands of dollars.  We thank BBB for giving us the opportunity to respond and ask to remove this illegitimate "complaint" as this is currently being handled by our Legal Recoveries Team.  Thank you!

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩