Complaint Review: Liberty National Financial Norman OK - Norman Oklahoma

In October 2011 I entered into agreement with Liberty Financial, I paid them $10,000 USD for them to issue a Trust and file with the FMCSA, a requirement from the USDOT to activate my Freight Brokerage Permit.

Per the agreement I may cancel at any time upon thirty (30) written notice. Which was sent to them on 09/26/2013 by me. They received it and filed the cancellation with the FMCSA on 10/3/2013 and cashed the check for processing fee on 10/4/2013.

Industry norm is that they hold the $10,000 for a total of 90 days from receipt of the cancellation notice then refund the money.

On September 5, 2013 I called Liberty Financial to inquire about cancelling. The lady that answer the phone said to fill out bottom portion of the Notice of Cancellation of the Agreement sent to me and a send it along with a check for $250.00 for cancellation processing fees.

I did what she told me the next day.

I have called their office with out any answer, left several messages, sent e mails to get an estimated date of when I could expect my money. No one has called back or responded to my inquiries.

Today I finally got someone on the phone, Mr Jeff Dorman. I explained my situation and asked him when I could expect my money. He went on to tell me that it would take 30 days for the FMSCA to process my cancellation (which they did on Nov 4, 2013), then another 60 days for their own internal processing, and then an audit. I asked if it could possibly take longer than 90 days, he's response was that it could take up to 24 months and that it was stated on the Notice Cancellation. He also stated he could not give me a specific date. 

I responded that this was unacceptable and that they were breaking our agreement. I simply cannot wait 2 years, 24 months, 730 days to collect my money. I will give this company not only 90 days in which we agreed upon but an additional 30 to refund my money before taking legal action against them. They are an unprofessional company that can't even live up to their own agreement.

I have gone online and have discovered a large number of complaints against them on rippoffreport.com; merchantcircle.com and even on the BBB website.  Rippoffreport.com shows some of the responses from Liberty National to these claims on which they admit that their refund period is 90 days. I have copied and pasted the response statement from which the author claims to be Liberty National for your review below:

"The policy states that accounts will be refundable 90 days after completion of cancellation procedure, which includes providing written notice and paying a cancellation fee, as long as there are no open claims or past due fees on the account."

and another one states the following:

"Our policy is that refunds are sent in approximately 90 days of completing the cancellation procedure. Most of our competitors hold the funds for 1-2 years. We have hundreds of other past customers who followed the procedure and received their refund with no complaints"

I'm extremely disappointed for doing business with a company with such bad reputation as this."