Factoring legal question

Henry

Active Member
10
Can anyone help? What do you do when you received an invoice from a factoring company and there is an assignment letter signed by the owner, then 2 weeks later you receive another assignment letter but from a different factoring company( and the owner has signed the assignment letter once again)
 

loaders

Site Supporter
30
Call the owner and ask him what’s up? It is my understanding that once you receive a notice of assignment, all invoices you receive pertaining to that carrier are due to the factoring company, until you receive a letter of release from the factor. Perhaps in your case, the carrier has changed factors and you have yet to receive the release from the first one.
 

Henry

Active Member
10
Thanks . I have the first release which is dated a few weeks before , and now another dated last week. I didn't receive a release from the first factoring company.
 

KeyFactor

Active Member
10
Thanks . I have the first release which is dated a few weeks before , and now another dated last week. I didn't receive a release from the first factoring company.
Henry, I'm confused. It sounds like you have two release letters from the second factoring company and none from the first. I would expect to see - in this order - an assignment to the first factor, a release from the first factor and then an assignment to the second factor. If you don't have this, ask more questions.
 
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