ComplaintsforRTS Financial

• Initial Complaint

  05/16/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  While being a customer with this company for about a year they suddenly decided to change rules that almost placed me out of business. RTS was factoring our invoices and suddenly stopped paying out our income that our business generates. Long story short RTS makes a sudden decision that because I work w/ ONE broker more than I do others they will stop issuing our funds. There was no warning prior too just a sudden change and our company was not able to receive our Income because RTS suddenly with no prior information froze our accounts. I spoke with senior executives and they confirmed that Defender freight LLC did nothing wrong. That there should have been communication to that RTS did not like when we worked too heavy with on broker. I was able to leave RTS because they were not willing to factor our loads as agreement stated. Fast forward a year later I now have 3 UCC filed with the state of Texas affecting our credit score by RTS. I contacted RTS if owe them any money and they stated NO, I have a $0 balance. But yet I have 3 UCC Filed against Defender Freight LLC MC 1237028 I am disgusted in how RTS conducts business. I demand for these 3 separate UCC filing to be removed

  Business response

  05/26/2023

  Dear Mr. D*****

  Thank you for taking the time to share your feedback. We appreciate all reviews as they help us improve our services. We apologize for any inconvenience or misunderstanding that may have occurred during your experience.
  
  We understand your frustration regarding the freezing of your factoring account. It is important to note that our decision was based on our standard operating procedures and credit concerns. As a factoring company, we have certain limitations and risk mitigation strategies in place to protect both our business and our clients. Concentration limits are put in place to ensure a healthy balance and minimize risk.
  
  In your case, the rapid increase in concentration with a single broker raised concerns, as it exceeded the cap we have in place. We attempted to communicate with you regarding this matter and work towards a resolution that would benefit both parties. We offered alternatives such as diversifying your business and seeking a security deposit to mitigate the credit risk. However, you expressed your preference to find another factoring company that would not impose these restrictions.
  
  We were notified of your decision to pursue a buyout with another factoring company, and we facilitated the transition without charging an early termination fee. We aim to be fair and understanding in such situations, even though it means losing your business.
  
  Regarding the UCC filings, we have been actively working on resolving this issue. We provided your new factoring company with the necessary permissions to terminate our UCC filings once the buyout was complete. We have also communicated this to you recently and requested that you reach out to your new factoring company for further assistance. We understand that the process is dependent on your switch to the new factoring company being finalized, and we have done everything in our power to facilitate a smooth transition.
  
  In our investigation, we found that one UCC filing from our company, RTS, is still active, but it is in the process of being reassigned to your new factoring company. The other UCC filings mentioned in your review do not originate from our company, and unfortunately, we have no control over those.
  
  We genuinely apologize for any breakdown in communication throughout this process. Our representatives have been working diligently to provide you with all the necessary information and resolve any outstanding issues. We value your business and are committed to addressing your concerns.
  
  If you have any further questions or require additional assistance, please don't hesitate to reach out to us directly. We appreciate your feedback and the opportunity to improve our services.
  
  Best regards,
  The RTS Team

• Initial Complaint

  05/15/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I have been under contract with RTS going on 1 year and its been a horrible experience thus far. I wish i never signed up with them. This company has complete control over all my funds and only serves their best interest not the carrier. I have to wait on hold for long periods of time and speak with random people every time to try and resolve any issues im having. I have to deal with smart mouth men who don't attempt to help. They will stop you from being able to do whats necessary for your company to serve the best interest of their business. They will not release letters of release over very small amounts. They will talk good initially to sign you up and treat your business like trash once under contract. I would much rather do quick pays than to deal with RTS its not worth the headache dealing with them. After dealing with RTS i learned that there here to make a profit and cover there end! They don't care about there carriers they will place you in bad spots and care less. This factoring company will run you out of business there not worth the headache. Try Apex or just do quick pays trust me sign up with them and learn the hard way!

  Business response

  05/26/2023

  Dear Mr. ********
  
  We appreciate you taking the time to share your concerns about your experience with our company. We understand your frustration and we apologize for any inconvenience caused during your time with us. We would like to address your concerns and provide some insight into the background of your account.
  
  Firstly, we apologize for the difficulties you encountered while trying to resolve your issues. We strive to provide excellent customer service, and we regret that you had to endure long wait times and speak with multiple representatives. We understand the frustration this can cause, and we will take this feedback into consideration to improve our processes and reduce wait times.
  
  Regarding your statement about us having complete control over your funds and serving only our best interests, we would like to clarify that our goal is to work in the best interest of both parties involved. As a factoring company, we provide funding and financial services to carriers, ensuring their smooth operations. It is essential for us to maintain a balanced approach to protect both our clients and ourselves. We aim to establish a mutually beneficial relationship with our carriers, and we apologize if you felt that we did not meet your expectations in this regard.
  
  In regards to your negative balance and the delay in providing a release letter, please understand that our release process is contingent upon resolving any outstanding financial obligations. Once we identified the negative balance in your account, our priority was to recoup the funds owed to us to maintain the financial stability of our operations. We appreciate your patience during this process, and we promptly provided the release letter once your account balance was resolved.
  
  We want to assure you that we strive to support their businesses of the carriers we serve. Our aim is to provide reliable factoring services and assist carriers in managing their cash flow effectively. We apologize if you felt that we did not meet these expectations in your case. Our representatives have been in contact with you to resolve any outstanding issues.
  
  Once again, we apologize for the negative experience you had with us. We appreciate your feedback, and we will use it constructively to improve our processes and customer service. If there is anything else we can do to assist you or address any outstanding concerns, please do not hesitate to reach out to our customer support team.
  
  ***** *** *** **** ************** *** ** **** *** ******* ** **** ****** ********** ********** *** *** **** ******************************

• Initial Complaint

  05/11/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  They have stalled all operations up. No accountability and making us suffer because they didn’t do their due diligence about our insurance. All our insurances are legit and we are listed on the federal motor carrier website . They are stalling things up because they don’t want to find, and they are lying . I want out of the contract and I don’t want to do business with them . They are sending invoices to the wrong place and holding us accountable for them not doing their job. Charging me more than they told me they would on percentages. I was getting 3.5% with truckstop. Why would I want anything more? This is a big bait and switch. This is not okay.

  Business response

  05/19/2023

  Dear Mr. ********
  
  We sincerely apologize for the negative experience you encountered. We understand your frustration and would like to address your concerns.
  
  Our our team members have reached out to you regarding your issues. They spoke with you directly and successfully addressed the pain points you raised. We have taken immediate action to ensure that your insurance questions have been properly resolved and that you are set up for success with our services.
  
  We understand the importance of promptly resolving account issues and have developed a plan to address any future invoicing concerns. Your feedback has helped us identify areas for improvement, and we are committed to enhancing our services to ensure a smoother experience for all our clients.
  
  We genuinely value your business and regret any inconvenience caused. Should you have any further concerns or questions, please do not hesitate to reach out to us. We appreciate your feedback and are committed to continually improving our processes.

  ********** *** *** **** ******************************

• Initial Complaint

  05/11/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  RTS is a fraud. They are lying to customers to get their business then changing the terms of the agreement in the written contract and refusing to release the contract. My customer service rep told me that I would only be charged 1.85% fee and not to worry about the fee schedule on the contract it was just verbiage they had to add. Initially he told me that the only thing that mattered was using their fuel card. But, then also told me that the gallons pumped didn't matter and was not going to be checked so not to worry about that when I insisted that the number be brought down to a realistic number before signing. It has now been 18 mos and what they didn't tell me was that my rate would begin to fluctuate with the prime rate and it is now 8%. Additionally, they won't not release me from my contract through a buyout unless they get $7500 for money they would make off of me.

  Business response

  05/23/2023

  **** *********
  Thank you for reaching out to us with your concerns regarding your experience with RTS. We appreciate your feedback and would like to address the billing and collection issues you have raised.
  
  Upon reviewing your account and the information provided, we understand that there have been some misunderstandings and miscommunications regarding the terms of your agreement and the information relayed by our customer service representative. We apologize for any confusion that may have arisen during the initial agreement process, and we will take this opportunity to review our communication processes.
  
  In regards to the buyout fee, we understand your reluctance to incur additional costs for terminating the contract. However, as per the terms of the agreement, an early termination fee is applicable. Our team has reached out to you to discuss potential options and work toward a resolution.
  
  Thank you for your understanding. We look forward to the opportunity to address your concerns and find a mutually agreeable solution.
  
  Sincerely,
  The RTS Team
  
  

  Customer response

  05/24/2023

  *** ****** ** ** ******** **** ****** ** * ****** *** **** **** ** * ****** *** *** *** ********* *** ********* ** ** ****** ** ******** **** ********* **** ** ****** ** ******* ********* 
  There is no miscommunication. There are only lies. Here is the agreement I signed on 12/02/21 with RTS. This proposal shows the verbally agreed rate of 1.85% fixed for 12 months. Nowhere on this proposal do they mention fluctuations, prime rates, or anything other than 1.85%. Yet, I am now in an agreement with a fee schedule that differs from the proposal that we spoke about and this one signed on the original date of my conversation with the sales rep because they changed the contract without my consent and didn't tell me they were implementing completely different terms from this proposal. When I questioned the fee schedule upon signing the rep told me it was just verbiage. But, that my fee would be 1.85% as discussed throughout my contract. 

  Further, the contract does mention an early termination fee of $5000. However, what they have proposed is in excess of this despite that I am halfway through this contract. They are asking for a buyout of absured amount of $7500 which they were aware would not be given to further prevent this transition. 

  
  ********** ********
  
  I am rejecting this response because:
  
  Regards,
  
  ******** ******

  Business response

  06/01/2023

  Dear *********
  
  Thank you again for taking the time to share your concerns. We understand that you are frustrated with the current situation, and we apologize for any confusion or inconvenience caused. We would like to address the points you raised and provide some additional information to ensure clarity.
  
  Regarding the agreement you signed on 12/02/21, we acknowledge that the proposal stated a fixed rate of 1.85% for 12 months. However, it is important to note that the proposal only outlined the starting rate and fuel discounts, which are standard practices for our contracts. We do have tiered rates in place, which are determined based on various factors, including volume. When your volume dropped significantly, it resulted in an adjustment to your rate.
  
  Regarding the early termination fee, we would like to clarify the misunderstanding. The $5,000 mentioned in the contract is not an early termination fee but rather a fee applicable when a carrier decides to discontinue our services and switch to another factoring company. This fee covers the investment we have made up to that point in setting up the client's account. However, as your contract is set to expire on 12.2.23, our senior sales management has determined that an early termination fee of $7,500 is appropriate based on the remaining months and the average revenue we generate. This is a common practice among factoring companies.
  
  We regret that you are not willing to accept phone calls from us or engage in further discussions. We genuinely want to address your concerns and find a resolution that satisfies both parties. We value your business and would appreciate the opportunity to work towards a mutually agreeable solution.
  Please let us know if you would be open to reconsidering communication with us or if there is any other way we can assist you. We remain committed to resolving this matter to your satisfaction.
  
  ********** *** *** **** ******************************
  

• Initial Complaint

  05/09/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Rts pro fleet card. I was alerted to fraudulent charges at a store we don't use. Sent a bill, charged. Sent a form. Informed I wasn't charged. Per my bank statement I was charged 1128. Told it would be 90 days for a decision. My account representative then ghosts me. Sounds like the money was stolen by an inside person working for your company

  Business response

  05/18/2023

  Hi *****, Thank you for taking the time to share your experience with us regarding the recent issue you encountered with fraudulent charges on your RTS fuel card. We sincerely apologize for any inconvenience and frustration this situation has caused you.Upon reviewing your account, we understand that you submitted a fraud dispute form, which can take up to 90 days to process. One of our account representatives has reached out to you personally to discuss your concerns and provide clarification. We hope this direct communication has alleviated your concerns.
  We apologize for any inconvenience your recent experience may have caused you, and we want to make things right. Please feel free to contact us directly if you have any outstanding issues or concerns.
  
  Sincerely,
  The RTS team 
  ******************************
  

  Customer response

  05/18/2023

  Complaint: ********

  I am rejecting this response because:   Exhibit A: A Min of $150 plus 6.99% will be charged to me of any late payment. These payments are weekly for me. So how would you like to set up payment to me for the next 90 days? Or is my money not as important as yours? 

   Second the rep only contacted me with this review otherwise there has been no contact or resolution in site. Nothing.
  

  Regards,   ***** ****

  Business response

  05/25/2023

  Dear *****,
  
  Thank you for your response regarding the fraudulent charges on your RTS fuel card. We apologize for any misunderstanding and inconvenience caused.
  
  Please note that the 90-day fraud dispute process is handled by ***, not RTS. We have limited control over the investigation and resolution timeline. We apologize if this was not communicated clearly before.
  Regarding your payment arrangements, we apologize for any confusion. Your current payment terms and plans are determined by ***, and we have no control over their late payment fees or billing structure. We understand your concern about the impact on your weekly payments. However, please understand that we are unable to provide real-time updates or expedite the resolution as we do not have access to that information.
  We apologize for the lack of communication beyond this review. We have addressed this internally to ensure timely updates and support moving forward.
  We value your business and are committed to addressing your concerns within our capabilities. If you have any further questions or need assistance, please feel free to reach out to us directly.
  Sincerely,
  The RTS Team
  ******************************

  Customer response

  05/25/2023

  ]So you sign people up with your card and take absolutely no responsibility for anything? You cant even assist with fraud charges? What is it that you actually do? 
  Complaint: ********
  I am rejecting this response because:
  Regards,
  
  ***** ****

• Initial Complaint

  04/30/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  RTS every couple of months has tried to get our company to sign a factor agreement.. We have told them repeatedly we are not interested and just leave us alone! Today my husband got an email from RTS pro says congratulations your account has been created. We never created an account because we have no wish to do business with them! My desired out come is to be left alone! RTS stop contacting us ! No means no! If someone created an account it’s identical theft we already have a UCC filling from another factoring company.

  Business response

  05/11/2023

  Dear **** ******,  We sincerely apologize for any inconvenience or frustration you have experienced regarding our previous attempts to engage with your company. We understand and respect your decision regarding our factoring services, and we apologize for any miscommunication or confusion that may have occured.
  After reviewing your feedback and looking into your account, we have taken immediate action to ensure that you will not be contacted further by our company. If you encounter any further issues or have any concerns in the future, please feel free to reach out to our dedicated team at ******************************. We are here to assist you and address any questions or problems you may have.
  Once again, we apologize for any inconvenience caused, and we wish you and your business success! Sincerely,
  The RTS Team

• Initial Complaint

  04/04/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Hello, We have been having an ongoing issue with this company since November of 2022. They have held daily payments from us and now are holding us hostage and refusing to release us from our contract so we can move forward and get paid. It has now been 3 and a half weeks sine we have been able to get paid. We have proof of written confirmation once our account is paid in full they would send us a letter of release. Our broker has sent over all funds and has proof of doing so, even sent an email to RTS financial showing all funds have been sent, showing check # and amounts sent. Still RTS is refusing to release us. They stated they "don't" have the check which is inaccurate. So our broker suggested sending a direct wire instead. RTS is refusing to provide the wire instructions to our broker to get this matter resolved before we get our truck taken away for not being able to make payment since we haven't gotten paid in over 3 weeks. We have all proof in a very lengthy email chain. This company is bad for business, holding customers hostage from moving forward to being able to get paid by another factoring company. Despite being asked on several occasions, RTS financial never called me to assist with getting this matter resolved. I have all of that as proof in an email as well. Still today we are being held hostage, no letter of release has been provided despite being told in writing it would be provided once account has been paid. They are refusing to assist in the process of getting this account closed and released. They do not care to help and I was just told this morning to stop calling and they cannot help me further and if the transitions team at RTS Financial doesn't answer phone calls or emails then I would just have to wait until someone decides to get back to me. Please help us with this matter.

  Business response

  04/05/2023

  *** ******,
  
  We're sorry to hear about your negative experience. We've looked into your account and have confirmed that you have received the requested materials. Our team called yesterday and will be following up today to provide additional service and answer any questions.

  Customer response

  04/06/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Assumed Answered] 
  Complaint: ********
  I am rejecting this response because: RTS has not provided a termination letter to me. They have not done what was asked. They are holding my company hostage. 
  Regards,
  ******* ******

  Business response

  04/07/2023

  *** ******,
  Our team has called the number listed on the account and the alternate number provided on this platform. We've left multiple voicemails and reached out via email as well. We also sent a letter of release on March 17, 2023. If there is another number you'd like us to call, please send an email to ****************************** and provide that number.

• Initial Complaint

  03/17/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Hello, We have been having an ongoing issue with this company since November of 2022. They have held daily payments from us and now are holding us hostage and refusing to release us from our contract so we can move forward and get paid. It has now been 3 and a half weeks sine we have been able to get paid. We have proof of written confirmation once our account is paid in full they would send us a letter of release. Our broker has sent over all funds and has proof of doing so, even sent an email to RTS financial showing all funds have been sent, showing check # and amounts sent. Still RTS is refusing to release us. They stated they "don't" have the check which is inaccurate. So our broker suggested sending a direct wire instead. RTS is refusing to provide the wire instructions to our broker to get this matter resolved before we get our truck taken away for not being able to make payment since we haven't gotten paid in over 3 weeks. We have all proof in a very lengthy email chain. This company is bad for business, holding customers hostage from moving forward to being able to get paid by another factoring company. Despite being asked on several occasions, RTS financial never called me to assist with getting this matter resolved. I have all of that as proof in an email as well. Still today we are being held hostage, no letter of release has been provided despite being told in writing it would be provided once account has been paid. They are refusing to assist in the process of getting this account closed and released. They do not care to help and I was just told this morning to stop calling and they cannot help me further and if the transitions team at RTS Financial doesn't answer phone calls or emails then I would just have to wait until someone decides to get back to me. Please help us with this matter.

  Business response

  03/27/2023

  We're sorry to hear about your negative experience. At RTS Financial, customer satisfaction is incredibly important, and we value honest feedback. A representative has reached out to you to address your concerns.

  Customer response

  03/27/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Assumed Answered]
  Complaint: ********
  I am rejecting this response because: No one has reached out to me. This is one of your many lies told. RTS does not take customer service seriously at all. I have requested to speak to someone higher up several times. I have asked for several phone calls and not once has someone called me. In fact, ***** ***** violated our contract by speaking to someone else without client privilege or approval. ***** spoke to an attorney but refused to speak to me whom is the actual customer. I would still like to speak to someone higher up to resolve this horrible experience received by this awful company that steals from the customers and holds their hard earned money hostage. 
  Regards,
  ******* ******

  Business response

  03/29/2023

  We have confirmed that per your request, a release letter was issued to ****** ***** ********** *** on March 17th, and that you have recently spoken with one of our Operations Managers to discuss any further issues.

  Customer response

  03/29/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Assumed Answered]
  Complaint: ********
  I am rejecting this response because:I asked on several occasions where in an email did any state that we were front running loads. We were lied to and ignored. Our money was held from us and we were refused a release letter in a timely manner, causing us to miss payments on bills. You stopped us from moving forward to be able to be paid causing our company to ultimately have to shut down. I asked for proof of these false allegations and was provided with absolutely nothing. Management has failed to fix anything or provide any proof. I also asked my broker what you guys were talking about, my broker stated they never ever hear from you nor do you call to get anything approved. So many lies have been told by RTS, nothing has been fixed. Absolutely nothing. Provide proof as requested on several occasions. 
  Regards,  ******* ******
  

  Business response

  03/31/2023

  Thank you for your message. Unfortunately, we are unable to discuss account details, as you are not listed as the owner of the company and we do not have written consent to talk with you about account specifics. 

  Customer response

  04/04/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Assumed Answered]
  Complaint: ********
  I am rejecting this response because: That is absolutely inaccurate. I am the account holder and I have tons of emails going back and forth with RTS about account specifics. You guys are ridiculous and continue to lie and hold information hostage. This matter will not be resolved, RTS needs to provide prof where them sent us an email stating such accusations. All of a sudden they can’t give account details when requesting information. It is because RTS is lying and cannot provide the proof of such accusations due to them never ever sending the email in the first place. You are a fraudulent company, provide the information I requested. 
  Regards,
  ******* ******

• Initial Complaint

  03/13/2023

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  RTS will not release me of my UCC lien and I have did business with them in over a year. From my understanding it was supposed to be a year contract. No communication from them my future factor company has reached out I have reached out. They are holding me hostage and I can’t move on and factor loads at a new company therefore it is hurting my business due to not being able to cash flow

  Business response

  03/24/2023

  *** *****

  We're sorry to hear about your negative experience. At RTS Financial, customer satisfaction is incredibly important, and we value honest feedback. A representative has reached out to you to address your concerns.

  Customer response

  03/26/2023

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  Better Business Bureau:
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  Regards,
  ******* ****

• Initial Complaint

  03/02/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  RTS has me in a factoring contract and it was agreed in writing that once I reached a zero balance I would be released from RTS. however, they are now sending me to a department that does not respond to my emails. I have written to them numerous times, and they do not respond. I cannot run my company because they will not provide the release letters to the companies on file. Also, I have about $17,000 in direct bills set to pay in to RTS and team 28 wants me to deal with an imaginary department.

  Business response

  03/10/2023

  We're sorry to hear about your negative experience. We value your input, and we want to ensure that all our customers receive the highest level of service. A representative has reached out to you to address your concerns, and you have been provided a release letter. 

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩