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TBS Factoring Service, LLC

Country United States
State Oklahoma
City Oklahoma City
Address 3909 Classen Blvd
Phone 405-528-4490

TBS Factoring Service, LLC Reviews

  • May 4, 2018

Have documented over 36 times of customer service failing to provide accurate information as well as refusing to transfer call to a principle manager, most times they will tell you that Nadia or Jason are in a meeting, when they aren't, also they cover up, this is the first report because we are still attempting to get proper support versus the last few month of clueless buck passing outsourced so called customer service . Recently I requested the Policy on advances, I have experienced interference and attitude by an individual name Summer Elmore, she heavily disliked issuing me EFS codes (my own money) she also recently denied a request for a advance, .......the new word that was given to me, is they give advances to there preferred accounts, with no explanation of what that means. I have so many documented errors they have made on my account, I have really started to get others involved, I thought things were changing then the other days they showed me, the same issues.

I'll write more soon, be very very cautious of factoring here, I am prepared for a transition to direct billing to save money, keep our money as young trucking companies or small truckers, especially when you are not valued as a quote on quote preferred account. Please reach out to me to share your experiences at

I will be releasing a video commentary within the next 30 days and fully sharing what I've experienced, and it will be no denying it. Be careful with some of these family owned outfits when they don't have good follow on your account, and keep messing up with the invoices and not properly following up with the brokers or customers, TBS gives you ridiculous charge backs , silly stuff like a $10 charge back when they don't really follow up on the invoice payments.

  • Mar 14, 2018

This company, by far, has become my worst nightmare. My company has been doing business with TBS, since July 11, 2014. Service was good at first, but what I have been receiving these past years is unacceptable. First of all, getting in touch with a customer service rep can be extremely difficult and when you finally get a rep, they are very unhelpful. Any issue that you bring to the forefront never gets resolved or they place blame on the customer.

I have repeatedly advised them to stop sending duplicate loads, which has resulted in the loads being charged back. This chargeback is causing doubled factoring fees. For example, a load that pays a $1000 TBS will take 5%, which is $50 leaving me with $950. Two days later, they will duplicate this same load and instead of taking $950, they come back and take $1000, thus making them an extra 5%. On top of that, every time something is factored it has to be sent multiple times.

Brokers constantly call me about missing paperwork that has already been sent in. After resolving the paperwork issue with the broker, TBS will still not adhere to the completion of the paperwork and charge my company back on the loads. When you try to contact your account rep about the matter, they make it impossible to do so. I have to talk to a different person each time and each time I consistently get the runaround. It has become a back and forth battle with me explaining my issues and them giving me ample amount of excuses as to why the problem they created is my fault. The escrow account is a total JOKE! It will not pay.

I was told it pays between the 1st and the 5th of every month and I have not received a payment yet. When I contacted them yesterday, 3/13/2018, about these repeated issues, I asked to have my account audited. I was told by, the ever so RUDE manager Teresa Margin, "me auditing my account wouldn’t do me any good.” To top everything off, in order to remove yourself from a bad situation, you will be hit with a fee. In my case, it was a fee of $3000.00. They make it impossible for you to get out of your contract. June 2018 can’t get here fast enough! If you know like I know now, do a thorough background check on this company and their bad practices. I am not the only one that has brought these same issues to their attention.

  • Jul 27, 2017

Almost a year ago we noticed a slack cash flow. Noticing loads not paid, we contacted TBS. Several loads were on hold for paperwork they say missing. No person let us know in any way.

We told them to rebill some loads missing. They say they billed twice and take a whole extra cut the second time. Instead of getting the money back they start to cut out recource and take extra money.

They cut off communication and wouldn't return calls or emails. Each time we contact them they give us a different representative not knowing the situation. Probably 10 in all.

They admitted to having a computer glitch during changeover in the winter. For this reason, they didn't send settlements sometimes, as they should automatically, causing us to think loads weren't paid.

I believe a red flag should have come up on their end, saying they had already billed for a certain load. We should not have to pay for their mistakes. We have tried to end our relationship with this company for over half of 2017 but with them taking recourse, they are still keeping us hooked in and sucking off the profits.

  • Dec 15, 2016

BEWARE. If your looking for a factoring company and are thinking about TBS. Take a long hard look at State Attorney Generals filed complaints. Wish we would have dine this before signing with them. They overcharge and change rates as they see fit. They will take money from your loads without providing any reasoning. They will hang up on you, leave you on hold for hours, Your emails will go unanswered because the employees are rude, vindictive and think they can get away with it. Most likely because they have in the past. Mostly , Chris Doberstein & Dakota .Then when you try to cancel there service for the blatant theft of your companies money they try and hit you with a 5,000.00 early termination fee. So basically they treat you anyway they want and expect you to take it because they know there are no penalties for there behavior. We are lucky enough to be able to not use a factoring company on auto loads, so we will just wait them out if need be. We used the following complaint mechanisms for remedy of this fraud of a company. State Attorney Generals Office DOT Owner Op Complaint Process after they are done, we have an Attorney retained for business purposes that sent them a certifed cease letter. You should know if your a small biz, this company is at the very least "crooked" and "Scam Artists" at best.

  • May 19, 2016

To all that ever thought about opening a trucking company and using a factoring company to factor loads. Beware of this company. They are clearly in it for the money. They have no respect for their clients and can care less if you succeed.

I am the operations manager of a newly formed trucking company. We decided to use the services of TBS because I have prior experience with them. We contacted them on Friday May 13 2016 after we had contacted other factoring companies and decided not to do business with the other companies. We agreed to do business with TBS Factoring Services based off what we were told that they could do for our business. Including helping us with the down payment for our trucking insurance. We receieved the application and contract the same day. That was very efficient, we were happy that we had contacted them. We spoke to the new client rep and agreed to sign the contract with them to factor our loads for one year in exchange for the insurance assistance program. We were contacted on Tuesday May 17 2016 and was told that they could not finalize our contract because as it seems we had an existing UCC lien from another company. We did our research and found that a company that we had contacted prior to contacting TBS had placed the lien on our company. We contacted them and requested that they remove the UCC lien because we never did any business with them and was terminating any future business with them. During that time we had contacted another factoring company because we needed to get rolling and TBS was delaying the process. When we contacted the new factoring company they informed us that TBS had placed a UCC lien against us. When we called to ask that they remove the UCC lien, they said that we have to pay $125.00 to have the UCC lien removed even though the contract was never finalized. Their managing member never dated nor signed the contract therefore never validating the contract. The new client rep gladly emailed us a copy of the unfinished contract stating that it was valid without the final signature or providing us with the final contract. Beware of this company. They will do whatever to get money from you. Money that they dont even deserve.

  • Feb 2, 2016

Weeks ago i factored two loads to TBS FACTORING out of Oklahoma City Oklahoma. . The amount was for 4199 .. three days later I was still not paid I was set up on achieve which if I get it in by 1 their time I get paid next day.. I called explaining I hadn't got paid and I needed fuel and had been waiting and had a driver out on the road .. they said it was a glitch on their part and nobody got paid yet and they would issue a advance, I said no I will wait because personal preference I don't like taking advances.. they then informed me they had already issued one even though I said no and they couldn't stop it .. I recieved the amount 4199... the next day or so I recieved another 4199 due to their glitchy systems..

it was undertsood I would have to pay it back which was fine but when I go to pay it back they charged me their usual 5 percent factoring fee ... here I am paying back their mistake that they paid me twice and I get charged to give the money back to them it's ridiculous and wrong and I will never use their service again .. I talked to a operations manager and she said basically screw you I said ok I'm your boss you didn't get paid when I was suppose to pay you and your behind because of me but I accidently pay you twice when I finally do pay you but your gonna have to pay it back but Im gonna take 400 bucks from your part of the check as well as you paying me back .. DOES THAT EVEN FREAKN MAKE SENSE !! She continuedto deny that's what it actually was and made excuse all around because they are crooks .. from now on they will recieve what I owe back to them in a check so they can't make up some bull crap

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