ComplaintsforRTS Financial

• Initial Complaint

  02/17/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I have been with this factoring company for over a year have factored many loads with them with no issues no complaints from the customer they hold my money for over 10 days and weeks sometimes and months now and when you call an employee concerned they spend you to the next person and on when speaking to their supervisor they say we're doing what we can and they hang up now they are holding over $4,000 I am a small one man truck team with five kids mother father bills etc I tried today to speak to one of the employees he said watch your tone I told them let me speak to your supervisor he hung the phone in my face very disrespectful very rude and racist comment was heard in the background

  Business response

  03/01/2023

  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. If you are not satisfied or need additional assistance, please reach out to us at *******************************

  Customer response

  03/01/2023

  [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: on the run has been called by Sales representative saying that they don't want it business and racial profiling is not tolerated by anyone in this country.
  Regards,
  ***** *****

  Business response

  03/10/2023

  *** ******
  We apologize if there has been any misunderstanding. We have spoken with the representatives you have worked with, and we can assure you that there was no malintent toward you.

• Initial Complaint

  01/25/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I never factor with this company and they are refusing to give me a letter of release to get factor by another company. They only communicate through email and are refusing to give me any assistance.

  Business response

  02/21/2023

  We're so sorry about your negative experience. At RTS Financial, customer satisfaction is incredibly important, and we value your honest feedback. A representative has reached out to you to address your concerns, and a letter of release has been issued. If you require additional assistance, please email ******************************.

• Initial Complaint

  10/19/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I am a carrier in transport business and we use companies like its to factor invoices after we do a job for our customers. RTS refuses to fund my invoices per contract agreement and are holding my business operation money and deny my request to end contract with them. i am thus left with unpaid bills and payroll and my account is overdrawn because of this. they have refused my request to end the contract so i can hire another service company. my bills are past due and i cannot pay my employees because of these issue, no one in its is answering my request on this. if i dont pay for my commercial insurance tomorrow my policy will cancel and that affect my eligibility for reinstatement. please help me before my business goes under thanks

  Business response

  11/11/2022

  We are so sorry to hear about your negative experience. At RTS Financial, providing reliable customer service is one of our top priorities, and we value your feedback. We looked into your account and have confirmed that it has been moved to exit. You should have received communications about this. If you are not satisfied or require additional assistance, please reach out to *******************************

• Initial Complaint

  10/13/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  RTS IS NOT BEING FAIR BY DROPPING MY COMPANY CREDIT SCORE FROM B TO D TO I. THEIR EVALUATION IS NOT BASED ON NATIONAL CREDIT SCORES. MY COMPANY HAS 95 CREDIT SCORE WITH 15 DAYS TO PAY WITH ALL CREDIT AGENCIES IN THE US. RTS DECIDED TO DROP MY CREDIT SCORE FROM B TO D BASED ON ONE FALSE FEEDBACK FROM ONE OF THEIR CLIENTS. THEN REQUIRED ME TO PROVIDE A DAILY BANK ACCOUNT BALANCE IN ORDER TO GIVE ME A HIGHER CREDIT SCORE, WHEN I DECLINED, THEY DROPPED ME FROM D TO I. THEIR REQUIREMENT IS OPTIONAL FROM OTHER COMPANIES. THEIR CREDIT DEPARTMENT ADVISORS ARE VERY UNPROFESSIONAL THEY DO NOT TREAT ALL COMPANIES EQUALLY AND THEIR OWN CREDIT SCORE DOES NOT REFLECT MY COMPANY NATIONAL CREDIT SCORE.

  Business response

  10/13/2022

  Hi ****, Thank you for sharing your experience. We have a credit rating system in place to protect our carriers, and it is established by firsthand payment experience, available financial statements, bank/trade references and information from the *****. We also update our credit information daily to ensure accuracy. We have looked into your account and confirmed that your rating in our system is accurate and up to date.

  Customer response

  10/13/2022

  [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: my credit score in ALL credit agencies is A+. RTS DOES NOT update their own made up credit score. They based theor score on PERSONAL opinions rather than national credit score. I work with ALL factoring companies in the US and Canada. I have 95-100 credit score and 15-16 days to pay. The ONLY odd factoring company is RTS. RTS response to my complaint is very generic and not true. RTS credit department REFUSED to call my references simply because they want to give me the score i have now. I have made 46 payments to RTS in the past. when one of their clients who double brokered a load complained to them about me, they dropped me from B to d. just based on one client compliant. then because I refused to provide my daily bank account balance, they dropped my credit score from D to I. This is not professional and yRTS credit score is not accurate. RTS is fooling their clients by providing them untrue credit score. AGAIN, their response is all lies and RTS is not doing the right thing. 
  
  Regards,
  
  **** ******

• Initial Complaint

  09/27/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I was sent over the contract to sign with RTS Financial for factoring services but some of the terms on the contract were not what the representative of my case had discussed with me (Rates and cancellation clauses) . After trying to negotiate for a while, I decided I will no longer be doing my business with RTS and will not sign the contract. I'm asking for a release of the lien that was placed on the company so but they refuse to release me stating that I signed the application and now the new factoring company will have to contact them. I just need the release, I haven't started business with them at all and I already have issues with them and that is without a signed contract.

  Business response

  10/11/2022

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

• Initial Complaint

  09/21/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Well, my agent name is ***** ******* He put lien on my companies name, but wouldnt remove it, stop answering for calls. I asked him 10 times to remove it, but he wont. Worst agent ive ever seen in my life. I havent started to work yet, but he already started to ignoring me

  Business response

  10/11/2022

  We're sorry to hear about your negative experience. At RTS Financial, customer satisfaction is extremely important to us, and we value your honest feedback. We looked into your account and have confirmed that you successfully received the UC termination. If you need additional assistance, please reach out to *******************************

• Initial Complaint

  09/21/2022

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  On or about May 25th, 2022, an invoice was sent to be process for payment to our current factoring company (******* *******) of $2000. Our prior factoring company called RTS Financial was mistakenly sent a wire transfer in the amount of $2000, from ** aka the company who paid **** *** to move the freight for on May 25th. Now, we are being told by our current factoring company (******* *******) that our previous factoring company (RTS Financial) has not cut a check in the amount of $2000 to be paid to them. However, **** *** is requesting that RTS Financial cut a check of $2000 and send that payment to our current factoring company (******* *******) who has the owner ship over this invoice.

  Business response

  10/11/2022

  We're sorry to hear about your negative experience. At RTS Financial, customer satisfaction is extremely important to us, and we value your honest feedback. We checked into your account and have confirmed that we successfully sent payment to ******* on 5/20/22. If you need additional assistance, please email *******************************

  Customer response

  10/12/2022

  [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

  09/01/2022

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  When i signed up for the fuel card i made sure no activation fee %100 no one time fee. After i revived the card in the mail i was shocked they has imposed a $75.00 charge on my account. I called them and told them this is theft. And i have not used the card ever.

  Business response

  09/15/2022

  We are so sorry to hear about your negative experience. We value your honest feedback and are always looking for ways to improve. A representative will reach out to you to discuss your concerns. 

  Customer response

  09/15/2022

  [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.]
  
  ill wait for the representative to contact me.
  
  Regards,
  
  ***** **********

• Initial Complaint

  08/16/2022

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  Our RTS contract ends Sept. 2022. We contacted in December 2021 to submit the required 60 -90 cancellation notice. We were told contract actually ended Sept 2022 and resubmit July 2022. We resubmitted the cancellation notice and have emailed and called to verify it has been received, NO response. via email. We called and were told to contact the account rep ****, whom we have emailed and called several times and left messages for since July with no response. We had issues earlier this year in which we filed a complaint with the BBB and even contacted a dozen people in RTS Financial, from CEO to HR reps. It took 2 more weeks to resolve. Hence forth we decided not to renew our factoring contract with RTS. We submitted for a Letter of Release for a particular company (lets call the other company ******* *) on Aug 8 because RTS does not factor them. We called every day and were finally told Aug 15 that RTS denied factoring because ******* * was N rated. Which we new, hence why we asked for a Letter of Release. We called later in the afternoon August 15 and were told RTS will not factor and are holding the LOR because our contract ends in Sept but they would send the request to "Upper Management" again to try and get it approved. We called August 16 and were told *** denied the request again and RTS will not send an LOR to the ******* * because our contract is about to end in Sept. My question is how are we supposed to be paid by ******* * if RTS refuses to factor the load and refuses to send ******* * the LOR so that ******* * can pay us? If RTS is not factoring for ******* * then they need to send the LOR to ******* *. We delivered the load on August 8 and it has taken a week to find out they will not send the LOR and on top of that it has taken more than 6 months to confirm our contract will not renew and our cancellation notice has been received and will be honored. We want the LOR sent and the UCC removed once the contract ends.

  Business response

  08/26/2022

  We are so sorry to hear about your negative experience. We value your honest feedback and are always looking for ways to improve. After checking in on your account, we have confirmed that our team has reached out to you and your concerns have been addressed. You should have received an email regarding the status update of your account. If needed, we are happy to resend this communication.

  Customer response

  08/27/2022

  [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

  08/12/2022

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  Terrible factoring company! I have been with them for 2.5 years and I am currently switch to another factoring company, but they are holding me hostage to my contact.. They started out fine but progressively kept getting worse. The communication became extremely poor. For example, they will pay you for a load and deduct money out without an explanation. You have to reach out to them to find out a load was short paid months ago. So why wasn't I told this back when it became an issue? Another example, if a load is approaching recourse, they let you know a couple days before and look to you to help them get it fixed. Why didn't you let me know when it first became a problem? Then they want me to do THEIR job to get the issue fixed and I still have to pay them a percentage! Most of the time, the issue is something simple that can be solved by contacting the specific broker. But RTS will be too lazy and they leave it to me to do, even though the broker's contact details are right on the ratecon. When I called to tell them I wanted to be released, they told me they would after my open invoices are paid. I was fine with that. At this point, I made sure to not factor my loads anymore. I've been paying all of my trucking expenses out of pocket without receiving payment, just so I could get released from RTS. At the time, I had about 10 open invoices left, with the last one being July 20, 2022. All of the invoices were by the same brokerage, and this specific always took 30 days to pay on my invoices. 9 out of my 10 open invoices were progressing smoothly, but coincidentally my very last invoice from July 20 was the only one that had an issue. RTS "claims" the broker had a problem with the load numbers not matching on the ratecon and BOL, even though they really did match. I called the broker and they said they didn't see any issues with the paperwork. So, it appears that RTS is intentionally trying to prolong this invoice because they know I'm trying to leave!

  Business response

  08/23/2022

  We are so sorry to hear about your negative experience. We value your honest feedback and are always looking for ways to improve. After checking in on your account, we have confirmed that our team has addressed your concerns. You should have received communication regarding the status update of your account.
  

  Customer response

  08/23/2022

  [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,
  
  ****** *******

*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. ↩