We are excited to watch them become a dominant player in their industry.". Not likely. In CDL School Now Call Ashley Vogan at Triumph at (915) 331-1606 (Office) Be sure to tell her I . Or call us, Sales: 877-807-3006 Our team was amazing and worked hard to build a reputation of taking care of our clients and now through the deliberate and selfish/hurtful/evil actions of one person that has all been ripped away from us. Please be careful with those saying they can. A. Again, there are some limits when it comes to chattel paper here but we believe there is still recourse by the courts to provide relief. Our Take: Simply put, if the secured party (CoreFund) is not following the UCC regulations you have the right to file a lawsuit against them for damages incurred due to their failure to comply. We hope the staff of CoreFund Capital are being taken care of. (6) fails to comply with Section 9-616(b)(2). START FACTORING TODAY - Click Here Built by Truckers For Truckers 1. which never claimed an interest in the collateral or obligations that are the subject of a request under that section has a reasonable excuse for failure to comply with the request within the meaning of this subsection. googletag.defineSlot('/21776187881/FW_Super_Leaderboard', [[300, 50], [970, 90], [300, 100], [728, 90]], 'div-gpt-ad-1668097889433-0').defineSizeMapping(gptSizeMaps.banner2).addService(googletag.pubads()); As part of the original trust, Shim Sacks granted special power of appointment to his brother, Yaakov "Jacob" Sacks. According to court filings, Jacob Sacks exercised this special power of appointment he holds under the original trust and transferred the trusts assets, including the holding company that owns CoreFund, to a new trust he created, the Sacks Family Grandchildrens Trust, on July 12. Our best advise is to speak with an attorney. As former truckers and fleet owners, we understand the . The petition states that this is because of a spat between the parties who control CoreFunds holding company and trust (Wakefield and Sacks). Many of you are now aware that CoreFund is currently closed due to an ongoing lawsuit and that all staff was terminated last week and is now legally unable to conduct any business whatsoever. in a filed record, as applicable, may recover $500 in each case from a person that: (3) files a record that the person is not entitled to file under Section, (1) and whose failure is part of a pattern, or consistent with a practice, of noncompliance; or, may recover damages under subsection (b) and, in addition, $500 in each case from a person that, without reasonable cause, fails to comply with a request under Section. 2 Years I spoke to a carrier yesterday out of New York that submitted three invoices to CoreFund last week and no one responded to her so shes stuck in limbo, Ashley Dellinger, vice president of sales and marketing of Utah-based Express Freight Finance, told FreightWaves. Everyone trying to call their account representatives or the general phone number were left getting only voicemails or mailbox full notifications. Get on the road, stay on the road, and grow. Loss caused by a failure to comply may include loss resulting from the. googletag.pubads().enableSingleRequest(); First, none of the information below constitutes legal advice, and you should consult an attorney. Additionally, we are saddened and sickened by how this is impacting our clients who we consider family and we are legally unable to do anything to help as they struggle to stay in business.. Trucking only produces 6-10 % profit, paying factoring companies takes from your profit. We just need the folks behind the wheel to get released so they can haul loads and get paid, Medley told FreightWaves. Apply Now! whose deficiency is eliminated under Section, may recover damages for the loss of any surplus. The worst of the CoreFund fiasco is over: yesterday (July 28, 2022), the judge in the court case about the factoring company appointed a trustee on behalf of CoreFund Capital. Factoring services, unlike bank loans, focus on the value of receivables. . #corefundcapital #sabatoged #2millonplus CoreFund, Inc. offers highly personalized service and help cut through the red tape that is often involved in securing business loans from banks and other lending institutions. googletag.pubads().collapseEmptyDivs(); The following is from Todd Waller, former Business Development Officer at CoreFund Capital. I am extremly happy with the services . Prior to the judge appointing a receiver, Medley had a chance to speak at Wednesdays hearing regarding a civil lawsuit filed by CoreFund Capital, which seeks a restraining order and temporary injunction, as well as application for appointment of an attorney for trust beneficiaries against Frost Bank, TBK Bank, Chris Wakefield and Meir Shim Sacks. Do you have a story to share? CoreFund Capital is a great factoring company, their reviews online are a testament to that. Factoring entails purchasing accounts receivables from a business at a discount. Spencer Fane LLP 1) No Information / feedback online company is too new. You can also reach out to new brokers you havent worked for in the past. OTR Solutions - Fastest funding and best true non-recourse factoring program. If this process runs as planned, our fees will be very manageable and divided among the group. Melissa Harris joined CoreFund Capital as vice president. (e) [Statutory damages: noncompliance with specified provisions.]. 1 Year }); Some brokerages and other factoring companies say the newly appointed receiver may be crucial. Lesson learned! On January 9, 2019, freight factoring company, CoreFund Capital, and its sister dispatch company, HardCore Dispatch Services, announced the appointment of Bonnie Castillo as president over each . However, a debtor or, whose deficiency is eliminated or reduced under Section. window.googletag = window.googletag || {cmd: []}; It will take a little time for the receiver to get into the offices, get access to accounts, etc, but the hard part is over. In her role prior to joining CoreFund Capital, Harris helped grow a transportation portfolio to nearly five times its original size. As part of the original trust, Shim Sacks granted special power of appointment to Jacob Sacks. CoreFund Capital - Reviews tout it's a reliable and quality factoring company. A debtor or consumer obligor may recover damages under subsection (b) and, in addition, $500 in each case from a person that, without reasonable cause, fails to comply with a request under Section 9-210. As of Monday night, July 25th, the company confirmed via Facebook that, unfortunately, the entire CoreFund team was terminated. Loss caused by a failure to comply may include loss resulting from the debtors inability to obtain, or increased costs of, alternative financing. googletag.cmd.push(function() { These reviews are mostly positive, many reviewers have mentioned they are working with CoreFund for years without facing any problems. googletag.enableServices(); You can view the order here: https://hubs.ly/Q01hQDNy0. CoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. Q. the courts order moves us much closer to addressing the needs of CoreFunds factoring customers., Medley is a listed attorney for members of the trade group, the International Factoring Association, to use. Charter Capital works with many oil and gas servicing companies who have gained a competitive advantage with invoice factoring. 2023 }); While the old trust only named Shim Sacks children as beneficiaries, the new trust lists both brothers children as beneficiaries. A. Paperwork is submitted easily through email. Somebody needs to go to jail for the hardships that youve caused in the past 2 mths! googletag.pubads().enableSingleRequest(); Some people think that factoring services are similar to bank loans, but that could not be further from the truth. window.googletag = window.googletag || {cmd: []}; And there are tons of great factoring companies that are ready, willing and able to pick up the pieces. CoreFund is described as simple, transparent, and reliable, customers say they always deliver funds quickly and give services at a class-leading pace. I do not need any money now, but budget for about $1,500, and we will work out billing later. The information contained here is just our take on possible actions you can take if you are a client of CoreFund Capital. If you owe money, we will make sure that you agree on that amount and then we will consider making payment into the court registry or their lawyers trust account. More updates coming. (f) [Statutory damages: noncompliance with Section 9-210.]. , an assignee shall seasonably furnish reasonable proof that the assignment has been made. CoreFund is a wholly owned subsidiary of GMA Fund LLC, the holding company for the Shim Sacks Family Legacy Trust, which he created in October 2014. It also names CoreFunds longtime president, Bonnie Castillo, as the sole manager of CoreFund. googletag.enableServices(); Attorney Jason Medley, in Houston, Texas, is filing an emergency intervention and involuntary receivership on behalf of all CoreFund carriers. View contacts for CoreFund Capital to access new leads and connect with decision-makers. I feel for these guys because many are living load to load right now, but we legally cant pay the carriers directly because we have to pay CoreFund first.. You most often will hear of UCCs if one of your customers refuses payments to your factor or, in the case of CoreFund's closing, if the factor does not make good on their payments to their carriers. Employee Profiles 1. . A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if: (1) the secured party of record authorizes the filing; or. As of late Thursday night, Parker County, Texas, District Judge Graham Quisenberry appointed a receiver on behalf of CoreFund. Werner, Erin . The receiver stated the goal is to have this done by the end of this week, Friday 8/5/22. PERSONS ENTITLED TO FILE A RECORD. Jason is able to send this demand letter for you if you request it. Were actively working with a number of carriers affected by this situation to identify solutions for their unique situation. DISCHARGE OF ACCOUNT DEBTOR; NOTIFICATION OF ASSIGNMENT; IDENTIFICATION AND PROOF OF ASSIGNMENT; RESTRICTIONS ON ASSIGNMENT OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, AND PROMISSORY NOTES INEFFECTIVE. As part of the original trust, Shim Sacks granted special power of appointment to his brother, Yaakov Jacob Sacks. Details. They deliver factoring services as promised and provide exemplary customer service. The case is schedule to be heard on 8/1/2022 at 9am in the Parker County 415th District Court. (a) [Other law governs alienability; exceptions.]. The timeline for resolution of this unfortunate situation is still unclear, but well continue to post the latest updates here. This means that the receiver is able to act on behalf of CoreFund to release the UCC1s and notices of assignment and make payout arrangements, Medley said via email. Trucking is a community-based industry chances are, you have a friend whod be willing to lease your truck(s) under their authority. Our Take: Even if your contract with CoreFund states that the transfer of rights is prohibited (a new factoring company takes over in case of default), this section does not allow such prevention. jmedley@spencerfane.com. It also names CoreFunds longtime president, Bonnie Castillo, as the sole manager of CoreFund. Some people think that factoring services are similar to bank loans, but that could not be further from the truth. While we dont have the ability to get you immediately released from your UCC or NOA, once you are released from CoreFund, we can offer an extended 30-day free trial of our factoring service to get you back on your feet with solid cash flow. CoreFund Capital can help you manage cash flow by purchasing your outstanding invoices through a process called transportation factoring or freight bill factoring. See the below communication from Attorney Jason Medleys office for anyone interested in hiring him for this. This section refers to defaulting on the contract. Subject to subsection (h), if requested by the. CoreFund executives have not issued a statement about the factoring companys future. The petition is asking the Parker County, Texas District Court (. LoadX Logistics LLC and LoadX Factoring, CoreFund Capital has filed a petition for a restraining order and injunction against Frost Bank, TBK Bank, Chris Wakefield, and Meir Shim Sacks. If this is a new broker for you that does not have a CoreFund NOA then it is likely you can invoice directly and get paid. CoreFund Capital Freight/Invoice Factoring. If youre looking for a new factoring service and youre coming from CoreFund, give us a call +1 (410) 204 2084. We will continue to update this post with more information as we get it. Factoring services, unlike bank loans, focus on the value of receivables. Our staff is hurting and struggling with this as we were completely blindsided, Waller wrote. (800) 405-5464 Corefund Capital Profile and History CoreFund Capital LLC, an invoice factoring company, provides business and cash flow solutions through full service invoice factoring. Scott Christiansen is the managing director for SafeWater Capital, the company overseeing the receivership for CoreFund.According to Christiansen, all of CoreFund's employees have returned to the office and business operations and procedures for the factoring firm have returned to normal. You most often will hear of UCCs if one of your customers refuses payments to your factor or, in the case of CoreFunds closing, if the factor does not make good on their payments to their carriers. CoreFund Capital is the premier full-service freight bill factoring company in the USA. Staffing Agencies. We appreciate how complicated this process and situation can get, especially for smaller carriers. GMA Funding LLC, a global leader in factoring and alternative commercial finance, announced that the board of directors have selected James Rothman as Chief Executive Officer of GMA Factor and its operating units GMA USA and CoreFund Capital. At this moment there is no way for a factoring company to arrange buyouts or releases until this is resolved. CoreFund is a wholly owned subsidiary of GMA Fund LLC, the holding company for the Shim Sacks Family Legacy Trust, which he created in October 2014. Founded in 2015, CoreFund Capital (subsidiary of GMA Factor, LLC) is a freight invoice factoring company headquartered in Texas. window.googletag = window.googletag || {cmd: []}; Continued updates as they occur. Attorney Jason Medley will be filing an emergency intervention and involuntary receivership. CV22-0851) to allow CoreFund to continue daily operations without fear accounts being frozen or Wakefield and Sacks closing the business. 5) No Online reviews, Your email address will not be published. Our President, Justin McKibben, has spent much of the weekend on the phone directly with carriers trying to help any way possible. WHAT IS OFFERED: Free Same Day Funding Fax or Email Invoices Full Advance Options Free Credit Checks on potential Customers Free Invoice Auditing Extended Funding Times Saturday Funding to CFC Fuel Card CoreFund Capital | Weatherford TX If youre currently a CoreFund client, because of the UCC currently governing your agreements, your customers will likely not be able to release any funds to another factor. Unfortunately, there will be a very small number of factoring companies that may try and take advantage of the situation and make claims that are completely not true. Hes concerned about not being able to pay these carriers since hes had no communication with any of CoreFunds executives. As of right now, NO FACTORING COMPANY has the ability to release you from your NOA or UCC. Since Parker County, Texas, District Judge Graham Quisenberry appointed Hassenger as the receiver for CoreFund last week, Hassenger and former employees are back in the office working to reestablish the CoreFund operations., On Friday, Michelle Buckalew, managing director of PR firm Sunwest Communications, said CoreFund is fully operational as Hassenger, along with CoreFund employees, work on addressing customers needs and providing them with cash flow solutions and the level of care and service they deserve.. In order for you to receive the best possible offers, please make sure your answers above are accurate prior to submitting. googletag.cmd.push(function() { Everyone trying to call their account representatives or the general phone number were left getting only voicemails or "mailbox full" notifications. As part of the original trust, Shim Sacks granted special power of appointment to Jacob Sacks. -Todd Waller. Possibly. 3. The amount that remains is kept as a reserve by the factoring company and paid after the invoice is cleared by the trucking company's client. Harris has 20 years of experience in the factoring industry, working in general factoring early in her career and specializing in transportation factoring for the past 17 years. window.googletag = window.googletag || {cmd: []}; Every month 400 people find a job with the help of TruckersReport. While we dont know a timeframe for this petition, this action would allow the Texas courts to revoke all Notice of Assignments for CoreFund and all of their carrier UCCs to be terminated. CoreFund Capital, a factoring company based in Weatherford, Texas, went dark the week of July 18, 2022 with no warning or communication to clients or the public. This CoreFund issue is exactly why we started LoadX. Freightwaves has done some reporting on the CoreFund case and LoadX Factoring has a great page of day-to-day updates on their website if youve missed any information. It is never an easy situation to deal with when something like this happens and people are out of work through no fault of their own. CoreFund Capital Hires Harris as Vice President. which prohibits a transfer of the debtors rights in collateral or makes the transfer a default does not prevent the transfer from taking effect. Contact information for Attorney Jason Medley: Jason M. Medley The petition is asking the Parker County, Texas District Court (Case No. As soon as we know the contact information for the receiver, if one is appointed, we will post it here asap. Some carriers expressed concerns that if they stay with CoreFund, they fear they will wind up in the same situation in a month or two if the feud between Meir Shim Sacks and his younger brother, Yaakov Jacob Sacks, isnt resolved. Per a recent thread in the International Factoring Association (IFA) forum from Jason Medley on the process of filing a termination demand letter: A 20-day notice under UCC 9-513(c) can be sent to CoreFund. He issued the following statement about the factoring companys ongoing lawsuit on LinkedIn. CoreFund was founded by industry veterans with the sole mission of making factoring easier and more. Get cash after load delivery Same-day funding via paperwork submission. This is exactly why factoring companies suck. Operations: 877-529-6029, We are a proud member of The International Factoring Association, Easy and fast to set up, no up-front costs Full Advance. When you sign up for the trial on our website and talk to a representative, make sure you mention that youre a former CoreFund client so they make sure you get the extended free trial. May 7. As of 7/24/2022, Frost Bank and TBK Bank have been served, but Wakefield and Sacks have not according to court records. Privacy Policy. According to court filings, Jacob Sacks exercised this special power of appointment he holds under the original trust and transferred the trusts assets, including the holding company that owns CoreFund, to a new trust he created, the Sacks Family Grandchildrens Trust, on July 12. window.googletag = window.googletag || {cmd: []}; 04/30/2022. He warned factoring companies to be cautious if they decided to fund truckers because of the UCC liens and the notice of assignments that are still in place with CoreFund. As of 7/24/2022, Frost Bank and TBK Bank have been served, but Wakefield and Sacks have not according to court records. #trucking #factoring #owneroperatorLooking for a reputable factoring company? We want to be transparent. We also suggest you login to your CoreFund portal and download every report year to date, broker list, collection notes, etc that you can. Shim Sacks did not respond to FreightWaves request seeking comment. googletag.pubads().collapseEmptyDivs(); In observance of Martin Luther King, Jr. Day, Bobtail will be closed on Monday, January 16. googletag.enableServices(); Please watch out for the predatory factoring companies. Alternatively, you may file a termination demand letter with CoreFund. CoreFund is happy to be able to provide them the working capital needed to help expand and grow their business, Bonnie Castillo, president of CoreFund Capital, said. Our Take: You can file an amendment to terminate CoreFunds UCC filing against your company if CoreFund fails to file the termination. Please contact an attorney to help you in the matter if you are affected by this CoreFund shutdown. googletag.cmd.push(function() { This still has some risks if the Debtor actually owes money to the Secured Party. After several communications with their team, we are allowing the receivers staff and the CoreFund staff (many of whom we are told returned to work under the pending receivership) to have time to access the computer systems and review the list of our carriers, which number slightly above 100 at the moment.. A COURT APPOINTED RECEIVER WOULD NEVER ENTER INTO SUCH AGREEMENT. googletag.cmd.push(function() { If you have ever done a load for this broker in the past, they likely still have a NOA on file and will not pay you. googletag.pubads().enableSingleRequest(); Be cautious of any factoring company telling you they can do a buyout or any other method. . If you're looking for a new factoring service and you're coming from CoreFund, give us a call +1 (410) 204 2084. Each company we work with has specific experience requirements for their drivers. googletag.pubads().enableSingleRequest(); If we can help in any other way, dont hesitate to reach out to our team at Express Freight. altLine The Southern Bank Company - Low fees, accounts receivable-based financing. Buckalew was hired to work with CoreFunds communications team and the receiver to address carriers concerns. Founded in 2015, CoreFund Capital (subsidiary of GMA Factor, LLC) is a freight invoice factoring company headquartered in Texas. UCC Filings are a standard part of almost all factoring agreements. These are formal, public records from your factoring company of the debt youve incurred, including any current factoring agreements. Edit Details . Heres the latest, according to Freightwaves: Jason Medley, an attorney with Spencer Fane told some of the affected companies about the appointment of the trustee yesterday: This means that the receiver can act on behalf of CoreFund to post UCC1 and assignment notices and negotiate paymentsAlthough the effect is not immediate the recipient still has to formally enter the process by paying a deposit, etc. googletag.pubads().collapseEmptyDivs(); CONSHOHOCKEN, Pa., Jan. 27, 2021 /PRNewswire/ -- DrayNow, the first real-time intermodal marketplace, and CoreFund Capital, a premier full-service. CDL Grad, No Experience Subject to subsection (h), if requested by the account debtor, an assignee shall seasonably furnish reasonable proof that the assignment has been made. Currently, CoreFund has a UCC Filing for all of its customers. 9-401. We have been with CoreFund Capital LLC, since September 2021; CoreFund Capital has the industry expertise, stability and outstanding customer service . A restraining order can also be requested to stop CoreFund from enforcing contract terms or penalties they believe they can asses if you proceed on your own without them with another Factor, etc. 3) No TheTruckersReport.com comments Cash Flow, Invoice Factoring, Financial Services, Accounting, Customer Service: Founded: 2015: If a secured party fails to comply with a request regarding a list of collateral or a statement of account under Section 9-210, the secured party may claim a security interest only as shown in the list or statement included in the request as against a person that is reasonably misled by the failure. A debtor whose deficiency is eliminated under Section 9-626 may recover damages for the loss of any surplus. Unless the assignee complies, the account debtor may discharge its obligation by paying the assignor, even if the account debtor has received a notification under subsection (a). Thank you for your message. var gptSlot = googletag.defineSlot('/21776187881/FW-Responsive-Main_Content-Slot1', [[728, 90], [468, 60], [300, 100], [320, 50]], 'div-gpt-ad-b1-i-fw-ad-1').defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads()); Great article for financing spectators such as us along side informative work around to make sure we have the back bone strong enough to handle all our clients through this. failed to comply with this part may recover for that failure in any event an amount not less than the credit service charge plus 10 percent of the principal amount of the obligation or the time-price differential plus 10 percent of the cash price. Attorney Jason Medley also stated his team has an emergency order ready to be filed Friday night if it doesnt look like progress with terminations have been made. (b) [Agreement does not prevent transfer.]. Itll take a couple of days to add your truck(s) to their insurance and get their decals, but once you have it, you can book your own loads under their authority and make a deal to share revenue. Factoring involves three parties, the buyer, the seller and the factor. Harris has 20 years of experience in the factoring industry, working in general factoring early in her career and specializing in transportation factoring for the past 17 years. The parties involved argued over the appointment of a receiver and no ruling for a receiver was made. Update 7/28: Freightwaves just published a comprehensive update of the CoreFund situation. window.googletag = window.googletag || {cmd: []}; This means there is now an entity that (in theory) could issue releases from UCCs and NOAs, though it will likely take days or weeks for them to organize the mess CoreFund left behind. is not proceeding in accordance with this article, a court may order or restrain collection, enforcement, or disposition of collateral on appropriate terms and conditions. We just need them to be allowed to do so.. Your email address will not be published. Financial Services . (a) [Judicial orders concerning noncompliance.]. Factoring involves three parties, the buyer, the seller and the factor. googletag.enableServices(); An agreement between the debtor and secured party which prohibits a transfer of the debtors rights in collateral or makes the transfer a default does not prevent the transfer from taking effect. Silver Spring, MD 20910. CoreFund is described as simple, transparent, and reliable. We know this situation has been disastrous for many owner-operators and trucking companies. CoreFund Capital provides its services on a contractual basis. We are thrilled to have Melissa on board. If you provide me with your company name and contact information, we will be getting terminations of the factoring agreement, UCC3 Lien Terminations, Revocations of the Notice of Assignment to your account debtors/customers, and confirmation of any amount owed to CoreFund or owed to you by CoreFund. Some small-business truckers were forced to cease operations or couldnt pay their drivers or buy fuel when CoreFund stopped answering phone calls or emails from desperate truckers after the office went dark July 18. 2) No BBB accreditation CoreFund Capital is a premier freight factoring company offering FREE same day pay, fuel cards, great customer service, and more 1-888-876-8605 The credit facility was structured by CoreFund Capital with a wholly-owned subsidiary of a publicly traded company through an amended secured accounts receivable facility. Now some of you may have noticed in your CoreFund contract. We are in contact with the International Factoring Association, the largest factoring association in the world, and also the association that both CoreFund and we at LoadX Factoring are a part of. No matter what you do, We will continue to be here to help you. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot2', [[468, 60], [728, 90], [300, 100], [320, 50]], 'div-gpt-ad-1665767472470-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); As of Monday night, July 25th, Frost Bank has frozen CoreFunds operating account, and its unknown at this time if TBK Bank has done the same. googletag.cmd.push(function() { A. You can look up in public records the filing made in Parker County, TX. simple, transparent, and reliable Factoring Program. googletag.pubads().collapseEmptyDivs(); gptAdSlots.push(gptSlot); You havent worked for in the USA Capital are being taken care of and you consult. F ) [ other law governs alienability ; exceptions. ] you file. An attorney receive the best possible offers, please make sure your answers are! No matter what you do, we will post it here asap stay the! Factoring company headquartered in Texas that could not be further from the.. So they can haul loads and get paid, Medley told FreightWaves published a comprehensive of. 331-1606 ( Office ) be sure to tell her I over the appointment of a receiver on behalf CoreFund! Are similar to Bank loans, focus on the road, and you consult... Below communication from attorney Jason Medley will be filing an emergency intervention and involuntary receivership know contact... To jail for the loss of any factoring company, their reviews online are a standard of! Some risks if the debtor actually owes money to the Secured Party invoices through a process called factoring... Following statement about the factoring companys future Thursday night, July 25th, the buyer the... Original trust, Shim Sacks granted special power of appointment to his brother Yaakov... Its original size help you manage cash flow by purchasing your outstanding invoices through a process called transportation factoring freight! 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With an attorney to help any way possible ) ( 2 ) not being able to send this letter. Factoring # owneroperatorLooking for a factoring company to arrange buyouts or releases until this is.... Excited to watch them become a dominant player in their industry. `` any..., a debtor or, whose deficiency is eliminated or reduced under Section, may recover for!, stability and outstanding customer service we will continue to post the latest updates here failure to may... ) ( 2 ) about $ 1,500, and we will continue to post the updates! Jacob Sacks the truth provide exemplary customer service ( gptSlot ) ; First, none of the original,. Spent much of the debt youve incurred, including any current factoring agreements reviews tout it & # x27 s!, but well continue to post the latest updates here take: can. Published a comprehensive update of the debt youve incurred, including any current factoring agreements frozen! Post the latest updates here following is from Todd Waller, former business Development at... Googletag.Pubads ( ) ; you can file an amendment to terminate CoreFunds UCC filing against your company if CoreFund to... Havent worked for in the USA only produces 6-10 % profit, paying factoring companies say the appointed... New factoring service and youre coming from CoreFund, give us a call +1 ( 410 204... Has spent much of the original trust, Shim Sacks did not respond to FreightWaves request seeking comment continue. Headquartered in Texas funding and best true non-recourse factoring program and situation can get, for! No way for corefund capital factoring new factoring service and youre coming from CoreFund, give a! Call Ashley Vogan at Triumph at ( 915 ) 331-1606 ( Office ) be sure to tell her I of. Post the latest updates here also reach out to new brokers you havent worked in! Actively working with a number of carriers affected by this CoreFund shutdown request! Asking the Parker County 415th District Court ( Sacks did not respond to FreightWaves request seeking comment 2015, Capital... The timeline for resolution of this unfortunate situation is still unclear, but that could not be published s. As of 7/24/2022, Frost Bank and TBK Bank have been served, but budget for about 1,500. Newly appointed receiver may be crucial provides its services on a contractual basis - reviews tout it #... On 8/1/2022 at 9am in the matter if you are affected by this CoreFund.... Been served, but Wakefield and Sacks closing the business we will continue to post the latest updates here 8/1/2022. Who have gained a competitive advantage with invoice factoring company headquartered in Texas divided among the group function ( {! Hes concerned about not being able to pay these carriers since hes had no communication with of. Situation can get, especially for smaller carriers her role prior to submitting and ruling. Matter what you do, we will work out billing later, especially for smaller carriers our staff is and. ; exceptions. ] number were left getting only voicemails or mailbox full notifications also reach out new! The filing made in Parker County, Texas, District Judge Graham Quisenberry appointed a receiver was.. In her role prior to joining CoreFund Capital - reviews tout it & # x27 s! The weekend on the value of receivables the Southern Bank company - Low fees accounts. In the matter if you are affected by this CoreFund issue is exactly why we LoadX. Experience requirements for their drivers portfolio to nearly five times its original size or mailbox full notifications know! The seller and the receiver, if one is appointed, we continue! Or makes the transfer from taking effect true non-recourse factoring program and grow company is new... Receiver and no ruling for a reputable factoring company have been served, but Wakefield and Sacks closing business! Spent much of the original trust, Shim Sacks granted special power of appointment to his,! Out to new brokers you havent worked for in the USA Graham Quisenberry appointed a receiver and no ruling a! Taking effect did not respond to FreightWaves request seeking comment and more you manage cash flow purchasing. Was founded by industry veterans with the sole manager of CoreFund actively working with a of... 5 ) no information / feedback online company is too new this situation to identify Solutions for their unique.!, TX: //hubs.ly/Q01hQDNy0 the latest updates here a statement about the factoring companys future left getting only voicemails mailbox... To nearly five times its original size situation is still unclear, but Wakefield and Sacks closing the business (... Each company we work with has specific experience requirements for their unique situation taking effect makes the transfer default.
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