eCapital

Honestly, if you don't have the operating capital, and your credit history won't qualify for a line of credit, you would most likely be better off leasing to a carrier. by the time you factor in all your additional costs, you are left with less net than a guy leased to someone like mercer or landstar.

 

With bad credit, it's probably more like 7 to 10 percent. Factoring companies are like banks, the good terms are only available for those with proven records.

 

True, either way $40-$150 a day buys a lot of fuel every year.

 

What do you mean "charging you twice"?

Are they claiming you were advanced on two invoices when there was actually just one?
Or maybe they aren't accounting for the reserve account correctly, and think they're double charging you the factoring fee?

It seems like the new company that wants your business ought to be able to clearly explain to you what the discrepancy is. Then either eCapital can explain why it's not what they think, or fix it if it is.

Sorry you're dealing with this. Unfortunately, eCapital has no incentive to make this go smoothly now that you're dumping them. I am still a customer of theirs, but have not factored anything in quite a while. Two people I referred to them had things go sideways and end badly, so I obviously no longer recommend them. That is, despite having had no issues with them myself. What good is a company that treats you well until the end, but then does this sort of thing to retaliate when you decide to move on.

Hopefully you were able to follow the terms/conditions to avoid getting porked for (a substantial) early termination fee on top of the hassle.

 

I hope you're able to get it worked out. Stories like this are a big reason I got away from it. No matter how good a relationship you have, or what kind of great deal you get, they just have too much control over your business.

 

If I had been born with a woman's equipment instead of a man's, I'd be sitting on fifty million dollars right now. Just sayin.

 

Hi @6wheeler! My name is Kerri and I'm with eCapital. I am so sorry to hear about your frustrations, but we definitely want to make sure you’re happy. Please give us a call at 760-456-3786 and ask for Rachel.
I’ve briefed her on your situation so she’ll be able to look into your account and take care of everything.

 

Imo if you been trucking awhile you shouldn't need to go back to factoring. Either 1 of 2 things. Either you're taking too cheap of freight or you can't keep your hands out of the cookie jar lol. HOWEVER I do understand if you get slammed with new motor and some other stuff in short period. Still if been doing awhile you should have some put back. You brokers quickpay if short and need quickly. Sorry about my rant lol