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Bad factoring company behaviour

Discussion in 'Ask An Owner Operator' started by Kosta, May 30, 2019.

  1. May 30, 2019 #1
    Kosta

    Kosta Bobtail Member

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    Dec 25, 2017
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    Who knows what is the regulatory authority for factoring companies, if there is any?
    Factoring holds a part of invoices amount
     
    Kosta, May 30, 2019
    Kosta, May 30, 2019
    #1
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  3. May 30, 2019 #2
    Frank Speak

    Frank Speak Road Train Member

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    May 3, 2016
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    I don’t know, but I have a hard time wrapping my brain around why someone would use one to begin with. To me it’s the same mentality as someone selling their structured settlement to JG Wentworth.

    They give you “cash now” (VERY LITTLE CASH) for your settlement. I realize these factoring companies take less of a percentage, but still...
     
    Last edited: May 30, 2019
    Frank Speak, May 30, 2019
    Frank Speak, May 30, 2019
    #2
    Midwest Trucker and Milr72 Thank this.
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