ComplaintsforEngaged Financial
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Complaint Details
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Initial Complaint
09/12/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
I was speaking with an agent, *** ****** about possibly signing up with them for factoring services for my trucking business. I was supposed ti send a w-9 form to get it going, which I never did, because I read so many bad reviews. Now I’m finding out they did aUCC filing against my business which is usually done by a lender. They never gave me any money, nor have I made any loads yet, my truck hadn’t even gotten in the road yet. So I’m not understanding why they are trying to make claims against me . They were only to be paid for factoring services if they provided them for any loads involved. Which has not happened, so I am wanting to request a UCC-3 termination statement from them. They never loaned me anything, therefore they wouldn’t be considered a lender.Business response
09/16/2024
Thanks for reaching out to Engaged Financial. Our company does not file UCC’s unless we receive a signed contract from the carrier. This protects Engaged Financial from the double factoring risk that can happen in the factoring industry. If you have further questions, please reach out to your representative. Thanks and have a good day.Initial Complaint
08/20/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
In May 2024, I was contacted by several factoring companies upon launching my business, ** * *** ********** ***. During that month one of the companies that contacted me was Engaged Financial. Whilst conversing with the sales rep, I was trying to find out more about their operational process and their rates. Wherein I was informed that I would need to fill out a data information sheet. However, I ended the conversation without completing the application as I did not have a favorable opinion about their rates. It was not until August 6th, 2024, whilst conversing with a different factoring company whose rates were more favorable for my business that I was informed that Engaged Financial had already filed a *** on my behalf. Once it was brought to my attention I contacted them to find out why they had filed on my behalf, when I never finished filling my application nor did I sign anything on docusign. Instead of it being resolved as an error on their part, they insisted that I am in a contract with them and that they are essentially my brokers now. When I requested a copy of the contract with my supporting IP address they informed me that they could not release it to me. (Because I never signed anything.) After doing more extensive research I found out that this seems to be a common practice for this company to do to new small businesses like mine. At this point, I just want them to release my *** as this is greatly affecting my trucking business.Business response
08/21/2024
Thank you for reaching out to Engaged Financial. Your rep tried reaching out to discuss and wasn't able to leave a voicemail. We do show that a contract was signed and the IP Address appears to match the correct location. Please reach out to you rep to discuss further. Thanks!Initial Complaint
06/13/2024
- Complaint Type:
- Order Issues
- Status:
- Answered
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. ThanksCustomer 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. ThanksInitial Complaint
05/06/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
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. ThanksInitial Complaint
05/01/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
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 financialBusiness 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
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. ThanksCustomer 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
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. ThanksBusiness 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. ThanksCustomer 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
** **** 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
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 BBBBusiness 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
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.
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Customer Complaints Summary
53 total complaints in the last 3 years.
19 complaints closed in the last 12 months.