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  • Report:  #939862

Complaint Review: Factor Exchange - Internet

Reported By:
thefriendyoulost - Orange County, California, United States of America
Submitted:
Updated:

Factor Exchange
18880 Von Karman 92661 Internet, United States of America
Phone:
Web:
www.factorexchange.com
Categories:
Tell us has your experience with this business or person been good? What's this?

Do you know him?? Not like i do he is a scam bag who lies,cheats and steels from anyone he can i worked with this guy for over 5 years and he is BAD news..

He is the owner of the Factor Exchange a cash advance business that has teamed up with a HUGE local Online marketing on low income famil company he is planning on ripping these guys off BIG TIME. Eric teams up with people and then tears there companies down and steels there clients and data he has done it before and is gearing up again if you do business with him get out NOW. He has run many scam operation preying on senior citizens and low income families he is a true criminal and is under heavy investigation by many agencies only a dummy would do business with Eric the pirate as he is known in Orange County. Why do i write this blog? Because he never paid me and has told me if i open my mouth im QUOTE going to be beat down well i will let the people and brokers know he is a bad man. He stole over 500,000.00 from investors recently and the money came from senior citizens i hope eric feels good. Eric also sexually harasses women on a daily basis and troll the internet on his voyage to womanize and also has beat up homosexuals when drunk. What a great guy to know and Eric is a great guy until he changes color and turns in the dr.jekel he really is a true pathological liar and demon.1. Be Aware of the Terminology Used By the Business Cash Advance ProviderIn the cash advance industry, there is a specific merchant cash advance vocabulary to be used to describe the financial transaction. Make sure your business cash advance provider is not using the term loan, as a cash advance is distinct from a loan because there is no interest rate.2. Fixed PercentageBusiness cash advances are repaid via a fixed percentage of your future credit card receivables. This means that the same percentage of your sales is paid back to the merchant cash advance provider on a monthly basis. Therefore, it should be a red flag if the merchant cash advance lender with whom you are doing business asks you to provide variable percentages of your credit card receivables from month to month. Dont get scammed; it is the cash advance lenders responsibility to form an agreement with you on what the fixed percentage of repayment will be. Make sure to read your contract carefully.3. Know What Information the Merchant Cash Advance Lender Needs from YouMerchant cash advance providers require minimal paperwork when compared with a bank or other traditional lender, but there are several specific pieces of information about your business that they must have on file in order to administer the cash advance. These include the past several months (or more) of your business credit card transactions and bank statements. In some cases, the merchant cash advance provider will request additional information, such as a form of ID and a voided check. But be cautious if you are asked to provide collateral or documentation of your personal finances or tax returns because cash advance providers do not require this information.4. Collection via Credit Card ReceivablesBusiness cash advances are repaid to the cash advance lender via your future credit card transactions. If the provider with whom you are doing business asks to collect money in any other form, you might be being set up for a scam.5. Be Wary of Anyone Asking You For CashThroughout the entire cash advance process, be careful with any calls you may receive that your business owes cash for one reason or another. Carefully read and be sure to thoroughly understand how merchant cash advances work so that you know when your business truly owes money and how it will be collected. If you are asked to write a check or to pay cash, chances are, you are being set up for a business cash advance scam.This post was written by Brian



3 Updates & Rebuttals

Brent Ship

United States of America
LIBEL! DISGRUNTLED DEFAMATION

#2Consumer Comment

Wed, September 12, 2012

It is absolutely amazing to me what a disgruntled employee will do to attempt to ruin a perfectly honest, straight up and ethical individual to gain some instant gratification or short relief. This article is 0 lies. I have know Eric for over 15 years. We have done business together and became fast friends. Eric is none of the things being presented here. Eric is an honest person and has always treated me and my employees with the utmost respect and acts with the utmost integrity. Eric has spent many years volunteering at the mission during weekends and holidays to give back to the community. He has helped the less fortunate with job finding skills by helping homeless people write resumes, educating them on job skills and helping them get cleaned up, both literally and figuratively.

Whoever this posters is should be ashamed of himself! You sir are the cheat, swindler and liar. How dare you attempt to ruin an honest mans reputation with you libel and lies. I hope you are sued and taught a lesson in honestly. Speech is free, lies are not. 


Brent Ship

United States of America
LIBEL! DISGRUNTLED DEFAMATION

#3Consumer Comment

Wed, September 12, 2012

It is absolutely amazing to me what a disgruntled employee will do to attempt to ruin a perfectly honest, straight up and ethical individual to gain some instant gratification or short relief. This article is 0 lies. I have know Eric for over 15 years. We have done business together and became fast friends. Eric is none of the things being presented here. Eric is an honest person and has always treated me and my employees with the utmost respect and acts with the utmost integrity. Eric has spent many years volunteering at the mission during weekends and holidays to give back to the community. He has helped the less fortunate with job finding skills by helping homeless people write resumes, educating them on job skills and helping them get cleaned up, both literally and figuratively.

Whoever this posters is should be ashamed of himself! You sir are the cheat, swindler and liar. How dare you attempt to ruin an honest mans reputation with you libel and lies. I hope you are sued and taught a lesson in honestly. Speech is free, lies are not. 


JennH12

Brea,
California,
United States of America
This report is false & a hoax

#4Consumer Comment

Wed, September 12, 2012

I have worked with Eric and his company on multiple occasions and have been very satisfied with the services provided. I had several 1:1 meetings with Eric and he was nothing but professional, respectful and courteous. What really confuses me about this complaint is that this company does not work with the senior population making it pretty hard to scam seniors, when again, this company isn't senior focused. This is a fabricated, false "story"'. As a Business Executive, I can confidently say this compliant is a hoax based on, from what it clearly sounds like to me, a disgruntled/terminated employee who is out for revenge which is unprofessional and in my legal opinion, slander against Eric. From my experience he was an excellent business partner and I plan to continue to do business with Factory Exchange. I am an attractive woman and was not in any way sexually harassed and I've been treated with the upmost respect and professionalism. I also disagree with the comments of gay slander, i recall during one meeting where Eric and I were casually converaing while waiting for my late partner to arrive (which Eric was very understanding about this tardiness since I know his time is valuable) I recall him mentioning he has several gay/l*****n family members. This came up as I was talking about my family and a recent vacation where my brother brought his partner. Bottom line, I couldn't disagree more with the above complaints. I have worked enough with Eric to know these are false allegations from a disgruntled individual. If I were Eric, I'd seek retribution for slander. Again, I am confident I will continue to business with Factory Exchange and recommend him and his services. Please do not take this complaint to heart. It's false. Normally I wouldn't respond to such hogwash but this clearly is false and I felt inclined to speak up when I see something like this.

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