They say that as long as the broker is…
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.