1. We were conned into a contract set up as a factoring agreement. We were pressured into signing it without giving it proper review and scrutiny. We were just too busy with our business to realize the one-sidedness of it.
2. They actually wrote the contrct and worded it such that WE drew up the contract.
3. They are trying to automatically renew it even though we gave them notice of our desire to get out of it 22 months before the initial term ended. It was a 2 year contract.
4. The service is poor. Their collection service is poor and their reports are archaic at best. The reports we get are commonly full of errors.
5. They charge us all of their expenses (reporting, postage, internet access fees, aging fees, etc.) in ADDITION to the 1 to 1.5 % of our sales plus freight and handling charges.
6. Now they are attempting to EXTORT us by witholding our customers'payments that are sent to them. These are funds that belong to us.
7. Now they say that they will release OUR funds if we pay them $60,000 in advance PLUS pay all of their legal fees in the event of any court action.
Summary: stay clear of milberg factors, inc.
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