ComplaintsforEngaged Financial

Factoring Services

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Initial Complaint
06/13/2024
Complaint Type:
Order Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Want a release from contract that auto renews every 6mo on original signed contract from 2020.
Business response
06/17/2024
Thanks for reaching out to Engaged Financial. Please submit the proper termination notice as highlighted in your contract. If you have further questions please reach out to the EF team. Thanks
Customer response
06/17/2024

Complaint: ********

I am rejecting this response because: I have reviewed our contract several times. Contract is auto renewed every 6mo. We signed contract in Sept. of 2020. Contract states that we can submit request for termination no sooner than 120 days to 90days prior to renewal. I have submitted the request twice in May and June. I am asking for a specific date as to when they will accept the request for termination. Not sure why they will not just provide the date. All they keep saying is we are not eligible. I want specifics, we want out of this contract.

Sincerely,

******** *****
Business response
06/18/2024
Thank you for reaching out to Engaged Financial. As mentioned before, please refer to your contract and submit proper termination request to the EF team. Thanks
Initial Complaint
05/06/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
A scam factoring company by the name of Engaged Financial has deliberate filled a UCC/lien on our business and has no proof to show that we have signed a contract nor any other legally binding agreement for conducting business and choosing them as a factoring company to work with. We had only went to this company for a price quote and they had asked us for our company details and then they turned around and used our details to manipulate and create a illusion to show that we are in a legally binding contract with them. Upon emailing this company to show proof, and to facilitate a letter of release, the company Engaged Financial responded by saying that they refuse to do so. Since we are a small trucking company (carrier), we rely on factoring companies. We had absolutely no intention nor interest in doing business with this company, yet they locked us in without consent, and without any hand written signature or acknowledgement. Everything was done behind our back with full deception.
Business response
05/16/2024
Thank you for reaching out. Our team has been in contact and from our understanding the owner was unaware of this complaint and would be handling accordingly. Thanks
Initial Complaint
05/01/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I was informed by another factoring company that engaged had filled a ucc on my business. I contacted engaged and was told i signed a contract with them months ago which wasnt true.I then stated i did not want to be and asked for the steps to be released emailed and texted different representatives asking to be released and was told my company wasn’t eligible for a release and if i wanted to get paid and or be released i had to sign some forms. I signed forms about to weeks which was the actual contract only because they lied and said i had to after sending them numerous of loads and not being paid i started calling emailing again to find out i didn’t have an active account and still would not be getting paid! I emailed several times stating my confusion and asking to be released i was ignored for the most part i also called my account manager and the new account manager to be told there wasn’t anything they could do i needed to continue to email i asked for my situation to be escalated but was ignored I was given a new account manager because of my complaints about the company and his unprofessional unpleasant attitude and still haven’t received one dime of our money at this point i would like a letter of release and never to be contacted again by engaged financial
Business response
05/06/2024
Thank you for reaching out to Engaged Financial. On the first invoice submission our team must confirm our NOA is in place with a broker. The broker took longer than normal to confirm that Engaged Financial was setup as the payee. Once confirmed, our team was able to purchased your invoices. Thanks!
Initial Complaint
04/30/2024
Complaint Type:
Order Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
One of my partners signed the contract with this company on April 23 2024. We tried to terminate less than a week later and was told that we cannot. We haven’t used any of their services and have not uploaded any additional documents. It is imperative that we get out of this contract because we do not need a broker. I’ve asked to be contacted by phone multiple times and haven’t received a call yet. They are a SCAM and they are taking advantage of new companies. All I want is to terminate this contract.
Business response
05/13/2024
Thank you for reaching out. The Engaged Financial team has tried to reach out to discuss. We do show that a contract was signed. Please reach out to your rep to discuss further. Thanks
Customer response
05/13/2024

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

I am rejecting this response because: no one has tried to contact me recently. I spoke with ***** as well as his manager who was supposed to call me. Back over a week ago. I've Included a copy of the signed contract. Please do the right thing and let us out.

S********* ******* *****
Business response
05/23/2024
Thank you for reaching out to Engaged Financial. It is our understanding this has been resolved after a phone discussion. Please let us know if you need anything else.
Customer response
05/23/2024

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.

Sincerely,
******* *****
Initial Complaint
04/25/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
On April 8, 2024, our company received a schedule stating that Engaged Financial denied factoring multiple loads. We had to wait the standard waiting period and was paid out today, April 25, 2024. Engage Financial then sent a revised schedule claiming that the loads were purchased in order to collect a factoring fee on each load. I called and explained that the loads were not actually purchased. Engaged Financial (EF) just received the check from the broker today. In addition, EF is adding Purchase discount fees to loads that they did not actually purchase. Typically if loads are purchased by EF, the funds are disbursed the following business day. I have not been able to speak with a manager and no one else seems to care to help.
Business response
05/12/2024
Thanks for reaching out. Our team has been in contact with you in regards to this matter. If you have further questions please don't hesitate to reach out. Thanks
Business response
05/16/2024
Thanks for reaching out to Engaged Financial. It looks like loads were hauled with an unapproved broker and EF still managed sending paperwork and receiving a payment on these loads. The funds were forwarded to your company and your account is approved for a release given the unapproved broker that you would like to work with. Please reach out to our team if you would like to complete this process. Thanks
Customer response
05/22/2024

Complaint: ********

I am rejecting this response because: There is already flat invoice fee assigned to cover processing fees. You are illegally charging a purchase discount rate that is associated with the time value of money on factored loads for loads that you did NOT factor. You have yet to address this issue. It is not only unethical, it is a breach of our contract, and therefore illegal.
Furthermore, we have a long work history with this broker dating back to last year. At the time the broker was an approved broker. You only recently classified this broker as a denied broker this year, without providing an alternative that would not impact our business operations. "Finding another broker to work with" is not an option, as we are in a niche industry and have no control over who is providing work.

Sincerely,

**** ****
Initial Complaint
03/11/2024
Complaint Type:
Customer Service Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
** **** one of Engaged call center employees called my phone consistently along with this young lady continuing to force factoring on my company even after I explained to him I was not ready. That was not enough for him he called every morning @ 7:00 am with the same pitch. At the moment I have a very busy life so I asked him is this how I get paid he said yes with out explaining any thing further. I asked him how much will it cost me , he stated nothing just fill out the documents he is emailing me he will get me approval and I will be good. He promised me all types of perks I never received anything but a prepaid gas card which is not beneficial.So now I am asking them to terminate my account I am being told it cost which is unfair my company is less than a year old I cannot make money as an individual company because of immaturity. The way they are preying on new businesses need to be put to a stop, be cause we can’t get no others factoring help as long as they are hold our accounts. I need them to release my account free of charge they have not done anything and because of the age of my company I am enable my opportunities. Please help me.
Business response
03/18/2024
Thank you for reaching out to Engaged Financial. We show that you have a signed contract with Engaged Financial and we are happy to start factoring your loads and provide you with the many benefits of factoring. If you have any questions please reach out to your representative. Thanks!
Customer response
03/19/2024
My issues with Engaged Financial has been resolved **** was very kind assisting me to be released. Thanks again ****
Initial Complaint
12/29/2023
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I’ve never done business with Engaged Financial and they put a UCC filing against my company. They refuse to terminate any contract that they say I have with them. They refuse to provide me with any documentation of a contract. They told me I must submit a termination request during a specific time frame and when I did they still will not terminate the contract. They are also falsely saying that they are accredited by the BBB
Business response
01/08/2024
Thank you for reaching out to Engaged Financial. We show that you signed a factoring contract with Engaged Financial. Once a contract is signed our team files the UCC to avoid potential fraud and double factoring. Our team has been responsive to your requests and if you need anything else, don't hesitate to reach out. Thanks!
Initial Complaint
12/07/2023
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Engaged Financial is no longer factoring loads due to a member leaving our company. That member signed the forms when our company initially signed up with engaged financial. We disclosed the change in membership and provided articles of amendment. Engaged Financial will still not factor our loads. We are in dire need of funding and they also will not help us facilitate the transfer to a new factoring company. We are facing a serious cash crunch as a result of EF refusing to allow us to leave and refusing to factor our loads at the same time.
Business response
12/08/2023
Thank you for reaching out. Engaged Financial has protocols that must be followed when switching bank accounts. Unfortunately, the owner of the company has not been reachable to verify bank change information. Engaged Financial cannot make exceptions when dealing with these kind of changes. Our team has explained this on multiple occasions and protecting our carriers from potential fraud is something we don't take lightly. Thanks and have a good day.
Initial Complaint
11/20/2023
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I signed up with this factoring company at the end of October 2023, they made all types of promises and haven't delivered. I waited over a week for to contracts that needed to be factored. The person I was in contact with either would go dead silent or barely respond. I have over $1800 that was supposed to be factored **** day or next day. I sent a notice of termination and have all the messages where, **** said that I could terminate at anytime if I hadn't factored any money and no buy out was needed! The communication is terrible, when I called the main number, they said they didn't even have my information. I'd like for them to release my ucc in the state of Ohio as promised!
Business response
11/27/2023
Thank you for reaching out to Engaged Financial. The delays were caused by other *** *ilings and our team needed those releases to avoid potential double factoring. We were finally able to obtain the needed releases and were able to fund this account. This matter has been resolved. Thanks
Initial Complaint
09/14/2023
Complaint Type:
Service or Repair Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
Engage finance refused to terminate my *** and I did not gave them the documents and they already set up account I have several emails asking them please to terminate my *** I am getting a push back . Then they decided to gave me a email [email protected] I emailed that address and still got no reply as of yet I need a release form stating that my *** is terminated
Business response
09/21/2023
Thank you for reaching out to Engaged Financial. We show that a contract was signed from the email and company on this inquiry. We filed a *** once the contract is signed to protect against double factoring etc. Thanks for reaching and please let us know if you have any other questions.
Customer response
09/21/2023
[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,

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

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