TBS Factoring Services Unethical UCC Lien Filings Oklahoma City Oklahoma

To all that ever thought about opening a trucking company and using a factoring company to factor loads. Beware of this company. They are clearly in it for the money. They have no respect for their clients and can care less if you succeed.

I am the operations manager of a newly formed trucking company. We decided to use the services of TBS because I have prior experience with them. We contacted them on Friday May 13 2016 after we had contacted other factoring companies and decided not to do business with the other companies. We agreed to do business with TBS Factoring Services based off what we were told that they could do for our business. Including helping us with the down payment for our trucking insurance. We receieved the application and contract the same day. That was very efficient, we were happy that we had contacted them. We spoke to the new client rep and agreed to sign the contract with them to factor our loads for one year in exchange for the insurance assistance program. We were contacted on Tuesday May 17 2016 and was told that they could not finalize our contract because as it seems we had an existing UCC lien from another company. We did our research and found that a company that we had contacted prior to contacting TBS had placed the lien on our company. We contacted them and requested that they remove the UCC lien because we never did any business with them and was terminating any future business with them. During that time we had contacted another factoring company because we needed to get rolling and TBS was delaying the process. When we contacted the new factoring company they informed us that TBS had placed a UCC lien against us. When we called to ask that they remove the UCC lien, they said that we have to pay $125.00 to have the UCC lien removed even though the contract was never finalized. Their managing member never dated nor signed the contract therefore never validating the contract. The new client rep gladly emailed us a copy of the unfinished contract stating that it was valid without the final signature or providing us with the final contract. Beware of this company. They will do whatever to get money from you. Money that they dont even deserve.