ComplaintsforTriumph Business Capital

• Initial Complaint

  08/30/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I've repeatedly tried to close my account with them. I've sent several letters/ emails informing them that I would NOT be renewing my contract so guess what...... they renewed it anyways. They stop responding to my emails once I proved that I even scanned a letter that was se t to them indicating my desire to released. They simply renewed my contract so they can attempt getting me to pay a early termination fee.

  Business response

  11/03/2022

  Business Response /* (1000, 5, 2022/09/13) */ We were able to work with the client and provide the necessary items to successfully close the account, including the letter of release. We consider the matter resolved now that the account has been closed. Consumer Response /* (3000, 7, 2022/09/14) */ (The consumer indicated he/she DID NOT accept the response from the business.) This factoring company are freaking crooks. I literally had to go to the BBB In order for them to actually do the right thing. Ridiculous!!!!! I'm running a business and this is a waste of my time.

• Initial Complaint

  06/12/2022

  Complaint Type:

  Delivery Issues

  Status:

  Resolved

  More info

  I was supposed to be paid by ACH from Triumph Pay instead my payment was sent to another Factoring Company that I had already provided a letter of release for weeks before Triumph Pay processed the payment. I was told by a client service agent James J***** by email that my payment would post on 6/3/2022 to my account by ACH, However, that payment was paid directly to another Factoring Company. I been getting the run around about this payment that should of been paid to me a month ago. On 6/10/2022 I spoke with Exavier by phone who said he was the department manager, after speaking with him he pretty much stated the same information that had already been told to me.

  Business response

  07/21/2022

  Business Response /* (1000, 5, 2022/06/16) */ We reviewed the complaint and sent to the appropriate team at TriumphPay, which followed up with Mr. ***** and addressed his issue and scheduled payment. We are confident that this has addressed Mr. *****' concerns. Thank you. Consumer Response /* (2000, 7, 2022/06/17) */ (The consumer indicated he/she ACCEPTED the response from the business.)

• Initial Complaint

  05/17/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Our company has been trying for a month to get someone from Triumph that knows what they are doing to call or e-mail us back on what the process is for terminating our contract with them. We know that all outstanding invoices need to be paid, but we are trying to figure out if we have any early termination fee and how long we have to wait for our blanket Letter of Release. We can't get anyone to respond to us. We are dealing with our eighth person trying to get the information we need. They requested a letter stating that we want to cancel our contract and sent that to them on April 26th. Here we are on May 17th and we are still waiting for answers. we are calling daily and e-mailing daily, but still being ignored. I bet if a Broker didn't pay an invoice that Triumph had factored every single person that works there would be calling us about payment. All I'm asking is for someone to call or e-mail me with the information that I have been requesting. It shouldn't be this hard and take this long.

  Business response

  06/15/2022

  Business Response /* (1000, 5, 2022/05/18) */ A member of Triumph's management team spoke with Ms. ****** on 5/18/22 to understand and address any pending questions or concerns related to the account. During that conversation, the terms of the release were discussed, and then documented and sent to the client, who confirmed receipt. Upon final payment of outstanding invoices, the release will be issued and the $7500 early termination fee waived. We have enjoyed and appreciated the opportunity to work on behalf of ****** Trucking. We will continue working with them to close the account and communicate when the release terms are met. Consumer Response /* (2000, 7, 2022/05/19) */ (The consumer indicated he/she ACCEPTED the response from the business.) We accept response, but it shouldn't have taken a month and filing a complaint to get our answers.

• Initial Complaint

  02/03/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Triumph Business Capital isn't doing the job they're paid to do. I invoice factor with them. My account is Non-recourse, and I've had invoices that were factored over that past 5 months. They have charged my company back several times where the broker sent the money to my previous factoring company TBS, and in one case direct deposited 5600 direct to my checking account. This case in particular I called TBS immediately and they had no clue what the money was for. Triumph charged back this to me instead of getting TBS to pay up. More recently $3700 was charged back to me saying I cashed a check meant for them. I have not and have bank statements to prove it. My wife and I tracked down their money from Coyote which paid TBS incorrectly again in less than an hour where as it's taken them 6 months to get nothing done. I have gotten a refund from TBS started so Triumph will get their money. I'm locked into a contract until August I believe is correct. My account executive Lindie will not respond to my emails except the one time she thought my email was unprofessional and called me 10 seconds after I sent it. I've been asking why they were taking a cash reserve payment out, and when or what Amount would they stop at. Still don't know. I shouldn't hav3 to chase down their money, that's what they're paid to do so I don't. Non-recourse is when if they can't get paid on a load, they lose the money not me.

  Business response

  06/27/2022

  Business Response /* (1000, 26, 2022/05/06) */ This complaint is currently being reviewed by operations management. We anticipate having a better understanding of the situation and next steps by 5/11/2022. Once we have researched the situation in full, we will contact the consumer directly. Consumer Response /* (3000, 29, 2022/05/10) */ (The consumer indicated he/she DID NOT accept the response from the business.) Their version isn't correct. Their account manager was not doing her job responsibly nor responding to my emails. Their was a second incident where they back charged me on a non recourse account. I contacted my customer and located Triumph's money spending less than an hour on the phone with a customer. Triumph had back charged me and didn't do any serious inquiries with my customer. Whole point in invoice or freight factoring is The factor, Triumph, provides for a fee payment while they chase after the customer. Both situations have been resolved, but it should be on record that they are not being straightforward. Business Response /* (4000, 31, 2022/05/20) */ For clarity, we wanted to provide more specifics to this particular situation. After Mr. ******** began working with Triumph, there were funds that were sent to his previous factoring company. Attempts were made by Triumph to work with that company to obtain payments for invoices that had already been advanced to Mr. ********. Two of those payments were sent directly to Mr. ********, which were considered misdirected payments and subject to repurchase and a fee assessment because those funds were not sent to Triumph. The terms of both the potential for the client to repurchase the invoice from Triumph and the fee are covered in our contract, specifically under Sections 6 & 9, which detail Pay Disputes and MisDirected Payments (and fees associated), respectively. We did not apply a misdirected payments fee, and instead worked with the client to set up a repayment plan as previously mentioned. In addition, we did not seek the repurchase of those invoices (chargebacks) until past the contracted 90 days of date of non-payment. Unfortunately, in these situations there are many parties involved: two factoring companies, the client, and the client's customer (Triumph's debtor), and clarity of communication can be a challenge. We make every effort to work on behalf of our clients and avoid these situations, and only charge back or assess fees as a final, last resort. Mr ******** is a critical partner in this process, and more timely communication about status could have been made when efforts to recoup payments/communication with previous factoring company failed. We hope this additional detail provides more clarity for all, and brings resolution to the issue.

• Initial Complaint

  02/01/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Triumph Business Capital is a factoring company. They sent over ACH roughly $10,000 of my money to a wrong account they are not returning my money and are now not answering my calls. I need a resolution to these issues.

  Business response

  06/08/2022

  Business Response /* (1000, 27, 2022/05/06) */ This complaint is currently being reviewed by operations management. We anticipate having a better understanding of the situation and next steps by 5/11/2022. Once we have researched the situation in full, we will contact the consumer directly.

• Initial Complaint

  01/13/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  I had a Factoring Contract with Interstate Capital Corp, I cancelled that contract within a year. They never send me a notice of release even though I asked for one. ICC was then bought out by Triumph Business Capital. I was told to contact them and request the NOR. It has been months and their underwriting department does not accepts calls and only receives emails which they do not reply. In the meantime I am not able to bill or get paid on trucking invoices because Triumph Business Capital is not releasing me of my contract. I have spoke to managers and they all say the same that their hands are tied and Underwriting is the only one that can send the letter that I need.

  Business response

  05/02/2022

  Consumer Response /* (2000, 18, 2022/04/08) */ From: ******* ****** (mailto:*******@drivelifedispatch.com) Sent: Friday, April 8, 2022 10:16 AM To: ****** **** <**********@nctx.bbb.org> Subject: Re: BBB Complaint against Triumph Business Capital They did not contact me, but they have resolved the issue. thanks ***

• Initial Complaint

  12/01/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  This business do funding for my company my Mc XXXXXX company name ******** trucking inc I have request them to give me termination letter I sent them hand written statement two months ago I cal them served times and send them email they are not responding to any thing if BBC and help me with that so I can do my busses with freedom like this they are holding me can't do my business

  Business response

  03/04/2022

  Business Response /* (1000, 13, 2022/01/25) */ ******** Trucking INC has not factored with our company in a year. Until today we were not successful in reaching the client by phone. The client confirmed the remaining funds on the account are to be sent via check to close the account. Consumer Response /* (3000, 15, 2022/01/31) */ (The consumer indicated he/she DID NOT accept the response from the business.) They did not respond me any thing

• Initial Complaint

  09/02/2021

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I was advertise 3 different percentages: a month to month 3.99%, a 6 month 3.5% and a 2.99% for a year. I first requested the month to month plan, to tested it out. After the month, I liked it and email my rep Hal H******* that if we could go with the 6 month. He said it was fine, his team Bryan and Claudia sent the contract 4 times and told me to sign then sent it back, telling disregard the last one you sign and sign this one. At the end without noticing I signed a year contract, but was getting charged 3.5% instead of the 2.99% as advertised by Hal H*******. I email him and said their isn't nothing to do and that the best he could was to try and see if he can lower it to 2,99%. I kept asking him what about the past months that i was overcharged. He ignore my question and he hasnt replied, I call no answer.

  Business response

  01/05/2022

  Business Response /* (1000, 13, 2021/11/09) */ Mr ***** was provided a new factoring agreement with a the rate of 2.99% for one year as agreed to as of 9/3/2021 the same day of the BBB complaint. We apologize for the delay in responding to this complain.

• Initial Complaint

  07/27/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I used Triumph Business Capital from Dec 2017-31 Oct 2018. Invoice was sent to ***** 21 Sep 2018. On 30 Sep 2019, My wife emailed Cynthia to release any money and wire transfer all funds. Cynthia, stated she would let mangmt know to release the account. On 13 Nov 2019, Claudia ***** emailed me "...I was looking through my accounts and I noticed that you are not factoring with us anymore. Are you still in operation?" I replied, I was; to release $100 form the reserve. From that day on I never received any notice of debt. I reached out around Apr 22, 2021(578 days later) to see if I could factor with them. I talked to them several times; no mention of any debt. I contacted ************* for their services, the representative told me to contact Triumph to be released. I reached out to Triumph and it was at that moment I was informed of this "debt." This sounds like there might be a bug in the system or they are manufacturing debts. Any company would be going after customers who have a debt.

  Business response

  08/26/2021

  Business Response /* (1000, 7, 2021/08/12) */ The client ****** ********** was provided the documentation related to the money in questioned. The transaction was due to a short payment by the client's customer back in 8/2019. This information was available at the time. We have left the door open to provide the client help in speaking to his customer on the short payment.

*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. ↩