- Report: #1473022
Complaint Review: ML Factors - Cedarhurst Hackensack NY
Reported By:
Concerned Business Owner -
United States
Submitted:
Updated:
-
Author Confirmed
Why?
ML Factors
Cedarhurst Hackensack, NY, United States
Phone:
866-856-7482
Web:
https://www.mlfactors.com
Categories:
Business Rating:
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ML Factors Samuel Selmar Avoid this company if you need financing Cedarhurst Hackensack NY
Avoid these guys like the plague! They will force you into a COJ in their contract and when you miss one payment, will enforce it, lock you out of the bank account and add an exorbitant amount of fees to release it. The only way out of it is to pay a large amount of money (where a portion goes to a shady NYC marshall...read Bloomberg article about MCA) or file bankruptcy. If you pay everything in the attempt to save your company, you will end up paying twice the amount ($100K MCA with $135K payback generally ends up being almost $200K). You are better walking away from any deal they give. If you call them, they lie about helping you resolve your debt, ignore phone calls and emails, defer everything to their shady NY lawyers.
There are other MCA companies that are more reasonable than this company. Do not work with this MCA company especially if they include a COJ. Their COJs are ruining and are putting so many good companies out of business because of their greedy CEO, Samuel Selmar. These guys should be investigated by NY Attorney General for the fraud and destruction they have caused to many businesses.
