Complaint Review: Milberg Factors

I feel so bad that I got a former employer set up with Milberg Factors. This company is no good! I would run and hide from this larcenous company. My former employer told Milberg that there service was terrible and they wanted to end the contract. They put this in a letter that was sent via Fed Ex to Milberg. The letter contained the desire to end the factor agreement. Milberg sent a return letter that told them that this was impossible do at this time because the contract stated that they need to complete the two year obligation. My former company was man enough to know they signed a bad one sided contract and completed the agreement. Six weeks before the contract was over they asked Milberg what the best way would be to work out the conclusion of the factoring function (or non-funtion)!!! being that it was coming to an end. Milberg told them it was not ending because Milberg said that they had to be obligated two more years do to the fact they didn't send a termination letter 60 days prior to the agreement ending. My old company showed them the termination letter that they sent 22 months before the end of the agreement and provided Milbergs follow up letter which stated that the agreement could not be terminated AT THIS TIME. They also provided the the Fed Ex signed confirmation that Milberg signed. Milberg's response even though they recieved the letter and responded to the letter was that the agreement said that the termination letter needed to be sent by certified mail and not Fed Ex. Needless to say, my old Company is sueing Milberg.

Funny thing is Milberg won't pick up the Certified mail with the court letter that will serve them. Guess I know why they like things sent certified mail! Milberg is abusing the legal system which in turn is a form of extortion. They also take various fees out payments such as every expense one could ever think of. They threatened to keep all of that samll companies money and use all of what they had on their legal defense. Bottom line is that Milberg is a Unethical and Stay Away. There are many other factors to choose from which are ethical and fair.

Stephan
New York, New York
U.S.A.