Complaint Review: TAFs Inc

My contract ended with TAFs on August 3rd 2019. I fulfilled my agreement. I opted out with in 90 days but not more than 120. I was so excited to move on to a new factoring company that I wanted to honestly have a celebration party that my relationship with TAFs has ended. It's been that bad!

For those of you that don't know the way it works when you move to a new factoring company is that the new factoring company does a buyout of any open invoices with the old factoring company. This moves the UCC or assignment to the new factoring company that basically says all debtors from this point on pay the new factoring company. This is the process that happens everyday when a company changes factoring companies.

I found out today (8/7/19) that just last week TAFs some how implemented a loop whole with open invoices. Jamie Heredia (the new VP of Sales) is telling me that they will NOT release my UCC and allow me to move to a new factoring company until the debtors pay the open invoices. He then lies to me and tells me I'm free to factor with any other company.

No other company will touch me if TAFs will not allow them to buy me out. The buyout allows the new factoring company to purchase all of my open receivables which means TAFs will get ALL OF THE MONEY OWED TO THEM. They are not allowing anyone to purchase my open receivables which means they are forcing me to continue to factor with them. So basically I'm stuck with TAFs forever even though my contract is up.

In my opinion Jaime Heredia and TAFs are so desperate that they are taking this measure to hold customers hostage to try and save their business. At this point I'm irate. This is not right and there needs to be a class action lawsuit against TAFs! Jaime Heredia please let me go and allow a factoring company of my choice to purchase my open invoices so that I can move on with my business. You have hurt me so much and now you want to force an unhappy customer that is out of contract to continue to factor with you.