TBS Factoring ServiceTBS Factoring Service makes trucking easier with technology and services to help drivers get established, stay compliant, find loads and get paid faster.
TBS Factoring Service (tbsfactoring.com) has 748 customer reviews on Five Star Index, with an average rating of 4.4 out of 5.
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Investments & Wealth · OKLAHOMA CITY, Oklahoma
Excellent
Investments & Wealth · Tahlequah, Oklahoma
Excellent
Investments & Wealth · Oklahoma City, Oklahoma
Great
Investments & Wealth · Tulsa, Oklahoma
New
Showing 86 reviews with 1 star · Clear filters
Mag
TBS is the worst. They are in cahoots with Elite brokers when it comes to chargebacks and will hold you hostage with improper UCC fees. Get an attorney is the theme I am being told by others.
Response from TBS Factoring ServiceMar 28, 2023
Hi Mag, We are sorry your experience with TBS didn’t match your expectations. We would love to make things right. Please send an email with your TBS client ID to [email protected] and someone will be in touch with you shortly.
Rosmery B.
The worst factory company I have ever seen. They do not respect the rights of the client that makes them earn money. They charge what they think they don't answer calls or questions. they are the worst of the worst.
Response from TBS Factoring ServiceMar 28, 2023
Hi Rosemary, We are sorry your experience with TBS didn’t match your expectations. We would love to make things right. Please send an email with your TBS client ID to [email protected] and someone will be in touch with you shortly.
Gerti
Terrible Company. Terrible costumer service.They keep your money.
Response from TBS Factoring ServiceMar 23, 2023
Hello Gerti. We appreciate your feedback and we have been working with you to address the concerns raised in this review. We believe we have now resolved your issue regarding a payment being on hold due to a rejected 8821 form. We have since made an exception to fund your account without the correct form, and have granted you a one-week extension to return the corrected form to avoid any further funding delays. We are sorry for any miscommunication and are committed to providing you excellent service.
Jrod J.
They say that as long as the broker is on the list of approved brokers they work with then all you have to do is submit the ratecon, BOL, schedule and choose if you want ACH or wire and your money will be deposited to you same day or next day and they will hold the burden of billing the broker (invoicing, sending required documents info, waiting on payment, ect) hence the reason they charge you a higher 4.5% of the load paid because they are fronting you money and assuming risk. Well what they don't say is that for any reason they can decide to not front you the funds and instead first wait for the broker to secure payment to them. Then once they can rid themselves any risk of non payment they will pay you, and still charge you the 4.5% of the load lol. Which in essence defeats the whole purpose of a factoring company. If you have a charge back balance with tbs then getting paid for loads is always going to be messy. Charge back balances is when you find yourself owing tbs $ either because you were paid more than you were supposed to get paid. OR because they paid you but are having trouble getting paid from the broker. The latter is the most frustrating cause it can be a load from a year ago that they paid you but because they are having trouble getting paid themselves they will decide to charge it back to you and collecting on your next load. Most of the time they won't have a reason why they can't collect and you won't know they were having trouble collecting. You will pay for that load that you did even if you provided the right paper work. Tough to get payment plans, countless hrs to get help or a response. Ive asked for a payment summary and after reviewing it there was about 5 months of missing payments on that summary. Took weeks before I got a new payment summary. Once you get a response they will be rude and make it seem like ANY issue is because you got paid double in a separate situation. They will also speak Spanish when you speak English.
Response from TBS Factoring ServiceMar 23, 2023
Hola Jose. We understand the frustration that comes with short pays and chargebacks and have been working with you to fix the matter. Unfortunately, there were numerous payments where you were double paid by both the broker and by TBS which resulted in your high chargeback balance. We will continue to work with you to pay off your high chargeback balance, and once that is complete we will speak with you about your ALA/DDP options.
A. L.
TBS is inconsistent, unreliable and do not follow their policies set forth for the customer. Most of our factoring request are not paid in a timely manner. They are not a company that you can trust. Seek other factoring companies if you have a need for this service.
Response from TBS Factoring ServiceMar 22, 2023
Hello A. Lindsey, We are sorry for any confusion when it comes to same-day factoring. To be able to receive same-day factoring, all paperwork submissions must be in by 12 pm CT Monday-Friday. All paperwork also must be complete and legible and is subject to verification prior to funding. If you have any questions about same-day factoring, need to know the correct file types to submit, or would like to reach out to us to help you solve any issues with your account please email us at [email protected] with your client ID and a good phone number where we can reach you. Thanks, and have a great day.
Marcus Freeman S.
This is the worst place to be involved with, with factoring. I've been trying for almost a year to get away from this company and it seems like they come up with more and more things to keep me factoring with them. I pray to God I get away from this company asap because I hate factoring with them it almost makes me want to quit running my business.
Response from TBS Factoring ServiceMar 20, 2023
Hi Marcus. We are sorry for any confusion about the buyout process. One of our representatives had been working with you on getting a buyout with A1 Legacy back in January 2023, however, while you were approved with TBS for the buyout process, A1 Legacy rejected the buyout due to chargeback balance and aging balance. Our team worked with you on a pay plan for that. We were happy to speak with you on Thursday, March 16, 2023 about moving forward with a new buyout opportunity so that we can both terminate our relationship on mutually beneficial terms. Our team received that buyout inquiry today, March 20, 2023 and we are hopeful all goes through this time. We are also waiving the UCC fee. We wish you the best with your new factoring provider.
Reinaldo C.
This factory company TBS.i have spent more than one year.due to an error in you application and other problems of your personal.they charge me $7000dllrs.causing financial.problems
Response from TBS Factoring ServiceMar 1, 2023
Hi Reinaldo, we are taking your review seriously and we would like to investigate your issue. Please send an email with your TBS client ID to [email protected] and someone will be in touch with you shortly. Chargeback can occur for a variety of reasons and without researching your account further, we can't comment on that. However, if there was an error made on your account, it will be fixed.
Celestine O.
Very horrible company to deal with. They charge 4% and yet won’t pay for invoice that have been submitted for over 5 days. They don’t deserve even 1 star. Please people run away from this company. Do not use them. They will put you out of business
Response from TBS Factoring ServiceFeb 8, 2023
Hi Celestine. We are sorry your experience with TBS didn’t match your expectations. We would love to make things right. Please send an email with your TBS client ID to [email protected] and someone will be in touch with you shortly.