Complaint Review: TBS Factoring Service

This company, by far, has become my worst nightmare. My company has been doing business with TBS, since July 11, 2014. Service was good at first, but what I have been receiving these past years is unacceptable. First of all, getting in touch with a customer service rep can be extremely difficult and when you finally get a rep, they are very unhelpful. Any issue that you bring to the forefront never gets resolved or they place blame on the customer.

I have repeatedly advised them to stop sending duplicate loads, which has resulted in the loads being charged back. This chargeback is causing doubled factoring fees. For example, a load that pays a $1000 TBS will take 5%, which is $50 leaving me with $950. Two days later, they will duplicate this same load and instead of taking $950, they come back and take $1000, thus making them an extra 5%. On top of that, every time something is factored it has to be sent multiple times.

Brokers constantly call me about missing paperwork that has already been sent in. After resolving the paperwork issue with the broker, TBS will still not adhere to the completion of the paperwork and charge my company back on the loads. When you try to contact your account rep about the matter, they make it impossible to do so. I have to talk to a different person each time and each time I consistently get the runaround. It has become a back and forth battle with me explaining my issues and them giving me ample amount of excuses as to why the problem they created is my fault. The escrow account is a total JOKE! It will not pay.

I was told it pays between the 1st and the 5th of every month and I have not received a payment yet. When I contacted them yesterday, 3/13/2018, about these repeated issues, I asked to have my account audited. I was told by, the ever so RUDE manager Teresa Margin, "me auditing my account wouldn’t do me any good.” To top everything off, in order to remove yourself from a bad situation, you will be hit with a fee. In my case, it was a fee of $3000.00. They make it impossible for you to get out of your contract. June 2018 can’t get here fast enough! If you know like I know now, do a thorough background check on this company and their bad practices. I am not the only one that has brought these same issues to their attention.