ComplaintsforMerchant One Solutions, LLC/DBA TwinFold Capital
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Complaint Details
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Initial Complaint
09/26/2023
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
I got an email from from ***** ****** a Senior Account Manager with Advanced Business Financing that relates to Business Financing. His phone number is **************. Upon calling this number, I am connected to ********* Capital I cant get a hold of anyone at TwinFold to explain if they are a part of Advanced Business Financing.Initial Complaint
06/01/2022
- Complaint Type:
- Product Issues
- Status:
- Answered
In april i consulted with them about cash advance options. I had a big amount of money coming to me and didnt want to pay a lot of interest for a short term loan. I was told that if i paid back the advance early i would pay a total of $9000 in interest. I accepted the advance and after speaking with the company now im told after 90 days i will get a discount of 30% on the remainder of the interest so the advance is actually going to cost me around $32000. I never would have taken this advance if i knew that up front.Business response
06/06/2022
We at TwinFold Capital continuously strive for ************************ when working with our clients and did the same in this case. The merchant was noified that after 90 days, on day 91 they would be eligible for a discount of the amount owed in the amount of $9,000. This was NOT the entire amount that would need to be paid back. The $9,000 represented the Discount off the remaining balance not the total amount that was to be paid. This was explained upfront to the merchant and in the actuual agreeement the merchant signed. The Pre-Payment discount is 30% of the remaining cost of funds, after 90 days. We appreciate the opportunity to respond to this case. Thank you.
***************************
TwinFold CapitalCustomer response
06/07/2022
(The consumer indicated he/she DID NOT accept the response from the business.)
Though that is in the disclosures that was NOT what was communicated with me. The broker made sure to tell me that on the phone so there is no trace. If the phone calls are recorded you can go back and verify that what i am saying is correct and I was lied to.Business response
03/14/2023
This is simply not true. We told and explained to the merchant the terms of the prepayment options and such terms are stated in the agreement the business owner signed from the funder.
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Contact Information
Customer Complaints Summary
2 total complaints in the last 3 years.
1 complaints closed in the last 12 months.