I just wanted to see if anyone else has had the problems that we have with this company called TransAm Financial Services or was just our company. On April 24th 2012 we were contacted by Jeremy Wardle the sales manager there at TransAm Financial Services to contract with them to be our factoring company. We at the time had only been in the business at that time since Feb. Not knowing much about factoring, because the companies that I used to work for before I opened my own company did all of that thereselves. Everything that he was telling me sounded real good to my partner and myself. So we signed our lives away for lack of better word lol. Then it all began: At first Jeremy Wadle told us that the contract would be for 6 months to start. Which is the real reason why we stopped shopping around. We have now found out that that was a big fat lie. We sent over one company for them to run with several carrier invoices. On the 27th of April I called and email them to check the status of the invoices that we had submitted and got nothing from them. No return call or return email. The following week I was told that they had not received any of the information that was sent to them. The agent that was on our account Carrie Maltbie was telling me a month later that some of the invoices that was sent to her the very first week still was not complete. By this time I was at my wits end with her so I enlisted two other agents to submit the information to her directly themselves. Each of them sent every invoice to her over 50 times via fax and email and had some of the companies send things "missing" as well. In the meantime I had carriers calling me looking for payment. I had enough of them calling me that I started to have them call TransAm directly. Funny they were getting the same run around from them as we were. Trying to get our reserves released to us was a battle just the same. We would call first thing in the morning and follow up with a email and would be calling the next day wondering why they had not been released. The answer "we never got the request". Now keep in mind that 99% of the time we could not get them on the phone and they would not return calls either. I had enough when after nearly two weeks going by and not getting a response from them I sent them an email and told them that since they were not returning calls or emails I would have to make a trip to Kansas and I would see them on Monday morning. Less than 10 minutes of me sending them that email I get a call. It was Jeremy!! WoW I thought. June 2012 they finally got all invoices paid out to our carriers, and we got all of our reserves. That was the last time we ran anything from them and the last time that we used them. It is now Jan 2013 and we have decided that our company is steady growing and that we would benefit from having a factoring company. So we shop around and find one that is perfect for us. Upon getting everything signed and everything they inform us that TransAm Financial has filed against our UCC and we would need a letter of release from them. We call and email nothing. Usual. So for the first week we email and call nothing. Finally we get through to Jeremy Wardle and inquire about the filing. He tells us that we are still under contract until April 2013 if we wanted to terminate the contract we would need to send in a request 90 days before the end of contract. And being that our time to file would be up that Friday he doubted it would be approved. I dont think that he realized that we would have said letter to him before end of business lol in which we did. As far as getting a letter of release no way "it is what it is" is what he said to us when we asked why he would want to keep a company that he has not had any contact with in almost 9 months. Again we have not used them since May really since that is the last time we sent in orginal invoices to them and June when everything was paid out. We have not called them and they have not called us. We finally got approved to have the contract terminated but the refuse to send us or give us a letter of release. Finally Friday he called and claimed that he been in meetings with the bosses and they said that if we wanted such letter we would have to pay $1000.00 fee for early termination. We have read and reread the contract and nowhere in the contract does it state anything about an early termination fee. We briefly spoke to other factoring companies and they have all said the same thing even after we have submitted the contract that we signed. If such fee existed then it would have been outlined in there contract some kind of way and it does not. So we are trying to figure out has anyone else had any issues with them besides not wanting to pay (another website reported this), or anything that I have talked about and what did they do to get there issue resolved. We have even called to speak to someone above Jeremy and we get hung up on....wondering how to proceed
Hi I have read your post and everything you have written sounds as if I've written it myself. I had exactly the same problem with financial carrier services. The funny thing is I spoke to one company and they said I was with transam and I told them I had never heard of them this is starting to make me think these two are the same company. I was similar to you just entered into the business new and didn't know much about factoring companies. The rep that I spoke to was calling me everyday before we signed telling me oh there's no contract you can try us for 3 months and then leave us no problem hah. As soon as I signed up with them I heard nothing from them having sent them a couple of invoices I was worried as I was told I was going to get paid shortly. After trying to contact the company many times no one answered this started to make me think that they were a suspect company and I wanted to leave them. After finally getting though to somebody I told them I wanted to part from their company after being with them for less than 24 hours and receiving zero money from them! They told me that I couldn't leave as I was contracted with them despite being told by 'Harrison hill' that there was no contract and that they were going to take my money. This shocked me and I tried speaking to somebody else I was told that I was not allowed to speak to the Vice President of the company as she was in a meeting despite having received an email from her 5 seconds earlier. So I kept calling and was told I couldn't speak to anyone and that I would be charged ten dollars each time I called as I was in their words harassing their employers they even sent the police to my house! I was only allowed to contact them by email and when I finally got a reply it was Vague. I contacted the companies that I had sent invoiced out to financial carrier services and told them that I am no longer with them. Fcs had already contacted them and told Them not to pay me. To cut this short I had to write a notarized letter to ask for release and pay termination fees. I got an email telling me to pay over 500 dollars when asked what this was for the company replied their 'hard work' (for one day?!) I asked for payment details the next day then they added another 400 dollars to this. These figures did not match the contract but I just wanted out as I was given an ultimatum either pay in two days or they were going to increase the fee to the so called full amount 3000 dollars as the other fee was apparently given to me in good will?! Bottom line here is its best to stay clear of all factoring companies they all lie to get you trapped and they have tight contracts which allow them to make up their on rules and interpret things the way they want. It's better to hire somebody to help you with your bills or use quick pay option that some companies offer. If anyone else is reading this STAY FAR AWAY FROM FINANCIAL CARRIERS!!!!! THEY ARE ALL SHARKS!!!! Just one more thing the company pretends to have many employees but they only have a few which use multiple names to try and trick people into thinking they are professional LOL. Keep trucking and make bucks!!!! Good luck!!
