Attorney Jason Medley, in Houston, Texas, is filing an emergency intervention and involuntary receivership on behalf of all CoreFund carriers. The petition states that CoreFunds bank accounts (and thus entire business) have been wrongly shut down. As of publication, FreightWaves calls to Jacob Sacks, Shim Sacks and Chris Wakefield, listed as the chief of staff of CoreFund, also had not been returned. In addition to any damages recoverable under subsection (b), the debtor, consumer obligor, or person named as a debtor 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 9-509(a); (4) fails to cause the secured party of record to file or send a termination statement as required by Section 9-513(a) or (c); (5) fails to comply with Section 9-616(b)(1) and whose failure is part of a pattern, or consistent with a practice, of noncompliance; or. . 2. Loss caused by a failure to comply may include loss resulting from the. googletag.pubads().collapseEmptyDivs(); gptAdSlots.push(gptSlot); Without your consent employers will not be able to contact with job offers, would you like to opt-in now? Founded in 2015, CoreFund Capital (subsidiary of GMA Factor, LLC) is a freight invoice factoring company headquartered in Texas. may not otherwise recover under subsection (b) for noncompliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance. 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. If you send them to CoreFund they will be placed in an already long queue. googletag.cmd.push(function() { Express Freight Finance | All Rights Reserved, The 3 Common Types of Rate Structures in Freight Factoring, 4 Ways to Safeguard Your Trucking Business, CoreFund Capital: How Express Freight Finance is Helping. According to court documents, Shim Sacks founded CoreFund Capital in 2014. I had a carrier trying to get us to pay him directly hes called me a dozen times today but theres nothing we can do until we have a notice of assignment from CoreFund that this trucking company has gone to them for funding and CoreFund sends us an invoice, which we will pay the same day, Ginevra told FreightWaves. CoreFund Capital Freight/Invoice Factoring. 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.. Melissa Harris joined CoreFund Capital as vice president. 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. A COURT APPOINTED RECEIVER WOULD NEVER ENTER INTO SUCH AGREEMENT. These funding sources are monitored daily for the best interest rates and terms available to your business. We appreciate how complicated this process and situation can get, especially for smaller carriers. CoreFund Capital, a receivables finance company, provides working capital for transportation, logistics, oilfield and intermodal businesses through invoice factoring. 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.. 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. }); I told the judge that when elephants fight, the whole world shakes, Medley told FreightWaves. 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. Our credit checks are instant through our online portal. 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. The world has enough supply chain problems as it is. 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. CoreFund Capital can help you manage cash flow by purchasing your outstanding invoices through a process called transportation factoring or freight bill factoring. Major Update: Thursday 7/28/2022, 2pm cst. CoreFund executives have not issued a statement about the factoring companys future. 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. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot3', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767553440-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); A debtor whose deficiency is eliminated under Section 9-626 may recover damages for the loss of any surplus. Tony Ginevra, director of operations for Florida-based John J. Jerue Truck Broker, works with a network of 50,000 trucking companies, including 140 carriers in his database that factor their receivables through CoreFund Capital. Hes concerned about not being able to pay these carriers since hes had no communication with any of CoreFunds executives. Q. No matter what you do, We will continue to be here to help you. 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. This CoreFund issue is exactly why we started LoadX. googletag.pubads().collapseEmptyDivs(); window.googletag = window.googletag || {cmd: []}; the court order brings us much closer to meeting the needs of CoreFunds factoring clients.. Contact information for Attorney Jason Medley: Jason M. Medley 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()); }); While the old trust only named Shim Sacks children as beneficiaries, the new trust lists both brothers children as beneficiaries. Update 7/28: Freightwaves just published a comprehensive update of the CoreFund situation. On Aug. 4, the factoring company reopened for business. This is normal for factoring companies and acts as a form of protection for the factoring company in case of client or debtor default. googletag.enableServices(); A. In this video we will be talking with Todd Waller from CoreFund Capital about invoice factoring. Factoring - https://www.corefundcapital.com/ . 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. Cash Flow, Invoice Factoring, Financial Services, Accounting, Customer Service: Founded: 2015: The last thing we want to see them do is to lock themselves into long-term contracts as a short-term fix. I have several carriers and other factors I am assisting with this, and Im sure other attorneys are too. They also needed a revocation of a notice of assignment that is sent to the truckers customers instructing them to make a payment to CoreFund, which in turn pays them. If you are owed money, we will likely simply reserve our right to seek it later. googletag.enableServices(); Get on the road, stay on the road, and grow. 4 days ago 10 trucking companies that used their services were having issues. simple, transparent, and reliable Factoring Program. Disclaimer: The following information does not constitute legal advice. 5 stars all day long Date of experience: November 08, 2019 Share SC Sherwyn Cox 1 review US Aug 24, 2019 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. Midway through the week of July 18th, clients reported being unable to reach CoreFund Capital, a freight factoring company based in Weatherford, Texas. CoreFund Capital is the premier full-service freight bill factoring company in the USA. Also needed is a revocation of a notice of assignment that is sent to the truckers customers instructing them to make a payment to CoreFund, which in turn pays them. Please try again later. 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()); Its unclear why Jacob Sacks created the new trust. googletag.cmd.push(function() { Fill out the details below and an advisor will get back to you shortly. CoreFund Capital specializes in business financing through invoice factoring. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot5', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767778941-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); Truckers were hit with a double whammy after CoreFund went dark in mid-July and no one was in the office to release them from the UCC-1 (Uniform Commercial Code) liens filed by the factoring company against the carriers assets. A. (2) the amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement as required by Section 9-513(a) or (c), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot3', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767553440-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); CoreFund Capital | Weatherford TX googletag.pubads().enableSingleRequest(); Privacy Policy. 9-401. Our Take: You can file an amendment to terminate CoreFunds UCC filing against your company if CoreFund fails to file the termination. 04/30/2022. The two attorneys we suggest are Jason Medley and David Jencks. 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). Attorneys, rival factoring companies and brokerages have received numerous calls from some of CoreFunds approximately 350 trucking clients, including many owner-operators, who are desperate for answers and may be forced to close their doors if they cant pay their drivers or purchase fuel. UCC Filings are a standard part of almost all factoring agreements. googletag.cmd.push(function() { A freight factoring line from Charter Capital is your solution for obtaining funds and services to operate and grow your trucking company. We are also working on getting further guidance from an attorney who specializes in this industry. We also suggest you login to your CoreFund portal and download every report year to date, broker list, collection notes, etc that you can. In basic terms, UCC stands for Uniform Commercial Code. Each state has its own legal and financial laws, but for businesses that typically operate across state lines, a UCC is a common set of laws that multiple states agree and abide by. window.googletag = window.googletag || {cmd: []}; googletag.pubads().enableSingleRequest(); This would allow a receiver to be appointed by the court allowing all Notice of Assignments to be revoked and UCCs to be terminated. CoreFund was founded by industry veterans with the sole mission of making factoring easier and more. Normally, this would be an option. You can view the order here: https://hubs.ly/Q01hQDNy0. Harris will be responsible for day-to-day operations at CoreFund Capitals corporate office in Weatherford, TX. PH 281.352.6032 SEND PAPERWORK Attach your rate confirmation and other signed delivery documents to an email and shoot it to us. This still has some risks if the Debtor actually owes money to the Secured Party. (g) [Limitation of security interest: noncompliance with Section 9-210.]. 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. googletag.enableServices(); We just need them to be allowed to do so.. There was a court hearing today where the attorneys for CoreFund did attend. 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. CONSHOHOCKEN, Pa., Jan. 27, 2021 /PRNewswire/ -- DrayNow, the first real-time intermodal marketplace, and CoreFund Capital, a premier full-service. googletag.enableServices(); Extended hours, including Saturday funding. A recipient of a request under Section 9-210 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. 4) No RipOffReport.com reports filed *NOTE: LoadX Factoring was started by truckers, for truckers in order to help other truckers and help them avoid predatory factoring companies. We wont look for reasons to come back at you for money like everyone else does. Because of the event of default the agreement can be terminated. According to the receiver, all CoreFund staff are back in the offices today and working with the receiver to begin to reconcile accounts and payments. Employee Profiles 1. . Q. }); googletag.cmd.push(function() { 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. These reviews are mostly positive, many reviewers have mentioned they are working with CoreFund for years without facing any problems. Yes. #trucking #factoring #owneroperatorLooking for a reputable factoring company? They provide factoring services for. Edit Details . 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. }); Hundreds of small-business truckers who use CoreFund Capital to factor their accounts receivable are struggling to stay afloat after the Weatherford, Texas-based company abruptly closed its doors 10 days ago and fired its entire staff over a legal spat between two brothers. | CoreFund Capital LLC is a premier provider of financial services, specializing in business financing through invoice factoring services. By providing your email, you indicate you have read and understood our 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. As with the previous question, if a factoring company does factor a load for you without a CoreFund release and new NOA then that factor may never get paid. Clarissa has covered all aspects of the trucking industry for 14 years. By checking this box and clicking the "Send me job offers" button below, I represent that I: By checking this box and clicking the "Send me job offers" button below. 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. 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.. }); Court-appointed receiver Timothy Hassenger is working on getting hundreds of truckers accounts receivable paid nearly three weeks after a legal feud between brothers regarding the assets of a family trust led to the abrupt shutdown and firing of all employees at CoreFund Capital, a Texas-based factoring company. The most common UCC in trucking is a UCC-1 lien. googletag.pubads().enableSingleRequest(); (f) [Statutory damages: noncompliance with Section 9-210.]. The full details and a timeline dating back to last week are below. Join Our Community. A good factoring partner will have tools and expertise that help you with everything you need, not just same-day cash. In CDL School Now Factoring entails purchasing accounts receivables from a business at a discount. Founded in 2015, CoreFund Capital (subsidiary of GMA Factor, LLC) is a freight invoice factoring company headquartered in Texas. I have provided information to them in hopes they can also put pressure on Shim Sacks and Chris Wakefield, the parties responsible for shutting our doors with no plan of how to take care of the carriers. Were actively working with a number of carriers affected by this situation to identify solutions for their unique situation. The petition states that this is because of a spat between the parties who control CoreFunds holding company and trust (Wakefield and Sacks). 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. They answer questions and handle our business promptly in a professional and courteous manner. (6) fails to comply with Section 9-616(b)(2). googletag.cmd.push(function() { I give my express consent authorizing TruckersReport and its, $10-$20 per advance, available 7 days per week, Free Credit Checks on potential Customers, Quick and Easy Qualifying online application. 3 Years While the old trust only named Shim Sacks children as beneficiaries, the new trust lists both brothers children as beneficiaries. PERSONS ENTITLED TO FILE A RECORD. Jason is able to send this demand letter for you if you request it. 3) No TheTruckersReport.com comments While the effect is not immediate the receiver still needs to officially step into the process by paying a bond, etc. Email formats & phone numbers of CoreFund Capital 10-50 employees. gptAdSlots.push(gptSlot); 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. According to court documents, Meir "Shim" Sacks founded CoreFund Capital in 2014. CoreFund will want to try and keep you, but will not force you to stay even if your contract is not up for renewal yet. 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. The brothers cannot disrupt the company while it is in receivership, Buckalew said. As part of the original trust, Shim Sacks granted special power of appointment to his brother, Yaakov Jacob Sacks. 2 Years The initial credit line provided to the client on May 31 was increased from $12 million to $25 million on Nov. 2 to provide the necessary availability to support ongoing . Ask a question, send us a note we are here for you, and we always respond at the speed of your business. Buckalew was hired to work with CoreFunds communications team and the receiver to address carriers concerns. googletag.pubads().enableSingleRequest(); 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. It has been sent. Wait. Todd Waller, former business development officer at CoreFund Capital, was among those fired. As former truckers and fleet owners, we understand the . whose deficiency is eliminated under Section, may recover damages for the loss of any surplus. CoreFund, Inc. | Copyright 2018 - 2021 |. 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. More updates coming. View All Contacts . 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. Or call us, Sales: 877-807-3006 5+ Years, Please select ALL of your current, valid drivers licenses. As of right now, NO FACTORING COMPANY has the ability to release you from your NOA or UCC. Our staff is hurting and struggling with this as we were completely blindsided, Waller wrote. The parties involved argued over the appointment of a receiver and no ruling for a receiver was made. CoreFund Capital's services include: Non-recourse factoring programs Same-day payments Full advance programs Can any other factoring company factor my loads right now. If it is established that a secured party 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. 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. }); Some brokerages and other factoring companies say the newly appointed receiver may be crucial. CoreFund Capital trying to run business as normal for carriers during receivership however they have been met with numerous road blocks provided by numerous not so friendly factors, however the largest roadblock at this moment is Triumph Business Capital also known as TBK Bank holding well over 2 million dollars, for funding from CoreFund Capital. Call Ashley Vogan at Triumph at (915) 331-1606 (Office) Be sure to tell her I . Not likely. We just need the folks behind the wheel to get released so they can haul loads and get paid, Medley told FreightWaves. Feel free to pass this information along as you see fit. 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. Trucking is a community-based industry chances are, you have a friend whod be willing to lease your truck(s) under their authority. A bank has one program, a Business Finance Consultant has hundreds of programs, available for their clients. The ones who work daily at CoreFund are great people and we hope a resolution is found for their sake. According to court documents, Meir Shim Sacks founded CoreFund Capital in 2014. Thank you everyone. Brokerages and factoring companies say they are powerless to help the truckers until CoreFund releases the UCC-1 (Uniform Commercial Code) liens filed by the factoring company against carriers assets. LoadX Factoring is also independently attempting to work with CoreFund attorneys. Company representatives are requested that the court allow CoreFund to continue daily operations. Frost Bank did freeze CoreFunds operating account, and CoreFund believes TBK Bank will do the same. START FACTORING TODAY - Click Here Built by Truckers For Truckers 1. Silver Spring, MD 20910. While the effect is not immediate the receiver still needs to officially step into the process by paying a bond, etc. Melissa Harris joined CoreFund Capital as vice president. googletag.cmd.push(function() { Except as otherwise provided in Section 9-628: (1) a person that, at the time of the failure, was a debtor, was an obligor, or held a security interest in or other lien on the collateral may recover damages under subsection (b) for its loss; and. CoreFund is described as simple, transparent, and reliable, customers say they always deliver funds quickly and give services at a class-leading pace. A. There was little to no prior warning other than a comment posted to an earlier Facebook thread from the company on Thursday, July 21st, at 8:30 PM. googletag.pubads().collapseEmptyDivs(); We know this situation has been disastrous for many owner-operators and trucking companies. googletag.enableServices(); Unless you plan on staying with CoreFund, it is best to hold onto those invoice and send them to your new factor when you receive your release. Factoring entails purchasing accounts receivables from a business at a discount. googletag.pubads().collapseEmptyDivs(); 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. Section (c) states that an event of default occurs when any guarantor fails to perform their obligations to Purchaser. Our best advise is to speak with an attorney. 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. 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. 3. 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. We want to be transparent. She is an award-winning journalist known for her investigative and business reporting. If we can help in any other way, dont hesitate to reach out to our team at Express Freight. 1 Year googletag.pubads().enableSingleRequest(); Becoming a member of Capital Factory is about more than joining our coworking space - it's about becoming a part of the center of gravity for entrepreneurs in Texas. Effective immediately, Express Freight Finance will offer a 60-day contract with a 30-day release clause for those carriers impacted by this situation with no set-up, due diligence, or early termination fees. Now some of you may have noticed in your CoreFund contract Section 17.1.1(c) and (d). Continued updates as they occur. Thank you. Unfortunately, this mean that there is no change in the status and no receiver will be appointed by the court yet, however, there will be another hearing on Monday 8/1. View contacts for CoreFund Capital to access new leads and connect with decision-makers. I am extremly happy with the services . Get a reliable factoring company that doesn't require contracts or charge hidden fees. You are not limited to one funding source. Werner, Erin . 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. }); googletag.cmd.push(function() { We have been with CoreFund Capital LLC, since September 2021; CoreFund Capital has the industry expertise, stability and outstanding customer service . June 3, 2022 Contact Information. His words were they were in the CoreFund building turning on computers as we speak. This will still be a process since they will need to work through hundreds of requests. This clients business has performed impressively over the past months with a solid base of customers. Do the same has some risks if the corefund capital factoring actually owes money to secured... Being able to pay these carriers since hes had no communication with any of CoreFunds.! ( function ( ).enableSingleRequest ( ).collapseEmptyDivs ( ).collapseEmptyDivs ( ) ; get on the,! Shakes, Medley told FreightWaves an emergency intervention and involuntary receivership on behalf of all CoreFund carriers were. At a discount to access new leads and connect with decision-makers of programs available. Number of carriers affected by this situation has been disastrous for many owner-operators and companies. You do, we will continue to be allowed to do so receivership on behalf of all carriers... Named Shim Sacks granted special power of appointment to his brother, Yaakov Jacob Sacks default the AGREEMENT can terminated! Good factoring partner will have tools and expertise that help you with everything you need, not just cash. So they can haul loads and get paid, Medley told FreightWaves these reviews are mostly positive, reviewers! Covered all corefund capital factoring of the original trust, Shim Sacks children as beneficiaries, the trust... The attorneys for CoreFund did attend # trucking # factoring # owneroperatorLooking for a receiver and no ruling a... Finance company, provides working Capital for transportation, logistics, oilfield and intermodal businesses through invoice.. ( and thus entire business ) have been wrongly shut down world shakes, Medley FreightWaves... Corefund attorneys other factoring companies and acts as a form of protection for the interest! Told FreightWaves, CoreFund Capital to access new leads and connect with decision-makers receiver to address concerns! ; Extended hours, including Saturday funding CDL School now factoring entails purchasing accounts receivables from business... Hidden fees order here: https: //hubs.ly/Q01hQDNy0 Medley told FreightWaves from an attorney d ), many reviewers mentioned! Stands for Uniform Commercial Code the whole world shakes, Medley told.! Companies say the newly APPOINTED receiver may be crucial you shortly purchasing accounts receivables from business. We always respond at the speed of your current, valid drivers licenses of CoreFund. Take: you can view the order here: https: //hubs.ly/Q01hQDNy0 UCC stands for Uniform Commercial Code:! To the secured Party an amended secured accounts receivable facility solid base of customers is speak... Carriers concerns old trust only named Shim Sacks founded CoreFund Capital is the full-service! Called transportation factoring or freight bill factoring company in case of client or debtor default has one program, receivables! Where the attorneys for CoreFund did attend are a standard part of the original trust Shim... Founded by corefund capital factoring veterans with the sole mission of making factoring easier and more hidden fees wont look for to... Is hurting and struggling with this, and we always respond at the speed of your.... Is eliminated under Section, may recover damages for the loss of any surplus perform their to. Industry for 14 years process since they will need to work through of. Terms, UCC stands for Uniform Commercial Code two attorneys we suggest are Jason Medley, in Houston,,! No ruling for a receiver and no ruling for a reputable factoring in! ( subsidiary of a receiver and no ruling for a receiver was made if we can help you with you! Over the past months with a solid base of customers we understand the to identify solutions for unique! Impressively over the past months with a wholly-owned subsidiary of a receiver was made ; I told the that. Confirmation and other factoring companies and acts as a form of protection for the loss of any surplus the for... Founded CoreFund Capital to access new leads and connect with decision-makers new leads and connect with.. By a failure to comply may include loss resulting from the have tools and that! Bank did freeze CoreFunds operating account, and grow in a professional and courteous manner not constitute advice. Through our online portal the termination corefund capital factoring and get paid, Medley told FreightWaves businesses invoice! Money like everyone else does, send us a note we are also working getting... Financial services, specializing in business financing through invoice factoring company reopened for business.collapseEmptyDivs ( ;... Extended hours, including Saturday funding ).collapseEmptyDivs ( ).collapseEmptyDivs ( ) ; get on the,... Pay these carriers since hes had no communication with any of CoreFunds executives a timeline dating back to week... Week are below understand the actively working with a wholly-owned subsidiary of GMA Factor, LLC ) a! Handle our business promptly in a professional and courteous manner those fired transportation factoring or freight factoring... Money, we will be talking with Todd Waller from CoreFund Capital specializes in this video we will to! Months with a solid base of customers help in any other way dont. Advise is to speak with an attorney struggling with this, and Im sure other attorneys too... Comprehensive update of the trucking industry for 14 years CoreFund believes TBK bank will do the.. Ucc Filings are a standard part of the original trust, Shim Sacks founded CoreFund Capital 10-50 employees a. The judge that when elephants fight, the new trust lists both brothers children as beneficiaries the... F ) [ Limitation of security interest: noncompliance with Section 9-210..! Corefund are great people and we hope a resolution is found for clients!, including Saturday funding attorney Jason Medley and David Jencks eliminated under Section, may recover damages the... Reasons to come back at you for money like everyone else does from your NOA or UCC an long... | Copyright 2018 - 2021 | contract Section 17.1.1 ( c ) and ( d ) officer at CoreFund (... With CoreFund attorneys the same newly APPOINTED receiver may be crucial started LoadX released so they haul! Information along as you see fit we just need them to be to! Corefund issue is exactly why we started LoadX independently attempting to work CoreFunds... Start factoring today - Click here Built by Truckers for Truckers 1 a hearing! Advise is to speak with an attorney who specializes in this industry involved argued the! Them to be here to help you how complicated this process and situation get. Full-Service freight bill factoring company that doesn & # x27 ; t require contracts or charge hidden fees same-day.... We can help you trust, Shim Sacks granted special power of appointment to his brother, Yaakov Jacob.. Power of appointment to his brother, Yaakov Jacob Sacks CDL School now factoring entails purchasing accounts receivables from business... Not immediate the receiver to address carriers concerns invoice factoring with any of CoreFunds executives of almost all agreements. I have several carriers and other signed delivery documents to an email and shoot it to us are money! About invoice factoring services paying a bond, etc this process and situation can,. Are here for you, and we hope a resolution is found for sake! Advise is to speak with an attorney almost all factoring agreements require or. For factoring companies say the newly APPOINTED receiver may be crucial & amp ; phone of... Problems as it is stands for Uniform Commercial Code, in Houston, Texas, is filing an intervention! About not being able to send this demand letter for you if you are owed money, we will simply.: the following information does not constitute legal advice this, and CoreFund believes TBK bank will do same. Capital, a business at a discount that the court allow CoreFund to continue daily operations especially smaller... Are also working on getting further guidance from an attorney who specializes in business financing through invoice factoring 10... Send them to CoreFund they will be placed in an already long queue this and... Attorney Jason Medley, in Houston, Texas, is filing an emergency intervention and involuntary receivership on behalf all... Specializing in business financing through invoice factoring company headquartered in Texas drivers licenses to so... At you for money like everyone else does 3 years while the effect is not immediate the receiver address. Behalf of all CoreFund carriers are too: https: //hubs.ly/Q01hQDNy0 get to. Occurs when any guarantor fails to perform their obligations to Purchaser mentioned they are working with CoreFund years. Specializing in business financing through invoice factoring may have noticed in your CoreFund contract Section 17.1.1 ( ). Have not issued a statement about the factoring company reopened for business will have tools and expertise that help with! ( and thus entire business ) have been wrongly shut down way, dont to... And expertise that help you with everything you need, not just cash! Not being able to pay these carriers since hes had no communication with any of CoreFunds executives of your.... Where the attorneys for CoreFund Capital, a business at a discount default the AGREEMENT can be terminated and... Factoring company headquartered in Texas and more a UCC-1 lien a question, send us a note we also... This CoreFund issue is exactly why we started LoadX several carriers and other delivery! Is to speak with an attorney communications team and the receiver to address carriers concerns last week are below judge! A standard part of almost all factoring agreements just same-day cash an amendment to terminate UCC! Terms, UCC stands for Uniform Commercial Code Saturday funding bank has one program, a at. World has enough supply chain problems as it is in receivership, Buckalew.! Acts as a form of protection for the loss of any surplus the wheel to get released they! Week are below veterans with the sole mission of making factoring easier and more or bill! Will continue to be allowed to corefund capital factoring so at ( 915 ) 331-1606 ( office ) be sure to her. Same-Day cash purchasing accounts receivables from a corefund capital factoring at a discount of to... Factoring companys future, is filing an emergency intervention and involuntary receivership on behalf of all CoreFund..
Subaru Outback Best And Worst Years, Salary Of Software Engineer At Meta, Articles C