Soar transportation
- Thread starter Hauler
- Start date
30
If the factoring company declined to do business with them, why would you consider it? It is one thing to get your truck loaded, however it is more important that you get paid. What does your spidey sense tell you.
30
Factoring companies often turn down people for reasons that have nothing to do with credit. Here are a couple I get regularly and my response
1) You're in Canada
Yes I am.
2) We don't work with new brokers.
Fair.. I've only been doing this for 34 years.
3) You're not in our system
Meh.. Ok.
Not to paint all factoring companies with a broad brush, but most run on skinny margins that would make any little girl with a lemonade stand blush. They simply can't afford to take chances. And once again, I know of some excellent factoring companies that do check things out closely and do a great job. But for everyone of those there are ten who will not hesitate to slag you instead of taking the time to investigate.
1) You're in Canada
Yes I am.
2) We don't work with new brokers.
Fair.. I've only been doing this for 34 years.
3) You're not in our system
Meh.. Ok.
Not to paint all factoring companies with a broad brush, but most run on skinny margins that would make any little girl with a lemonade stand blush. They simply can't afford to take chances. And once again, I know of some excellent factoring companies that do check things out closely and do a great job. But for everyone of those there are ten who will not hesitate to slag you instead of taking the time to investigate.
30
Couple of factors are say no to our invoices as well but what they fail to tell the carriers is that we chose not to deal with them not the other way around.
stay far away from them! Took over 110 days to pay and short paid the lumper receipt then tried to pay lumper by TCH Cheque and it came back NSF. DNU in my opinion.
a good example of a bad factoring company is T-Pine. I just received a NOA for Candid Haulers! I was shocked to see this email in my inbox on October 22, 2024 as we won a court case against Candid Haulers and I think everyone on this platform is well aware of the scammers who call themselves Candid Haulers (Phyush Jain). So not sure why TPine would send me an NOA for a Carrier who has had their authorities revoked and have no insurance. So, if anyone knows of Pyush Jains whereabouts, he owes us lots of money from a judgement. The attached is the email I received.
Hi Accounts Payable,
Hope you are doing well !
We are T-pine Financial Services.
Could you please confirm the NOA and update T-pine financial services as the account's payables in your system.
Thanks in advance!
Thank you !
Regards
Please Ensure All Cheques are Payable to: TPine Financial Services Inc.
OUR MAILING ADDRESS -
CANADA OFFICE : 1450 Meyerside Drive, 4th Floor, Suite 401, Mississauga, ON L5T 2N5.
US OFFICE : 3140 Irving Blvd. Dallas, TX 75247
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