East Capital Funding

Revdex.com: At this time, I have not been contacted by East Capital Funding regarding complaint ID [redacted] Sincerely, [redacted]

Revdex.com:
At this time, I have not been contacted by East Capital Funding regarding complaint ID [redacted].
Sincerely,
[redacted]

[redacted], as a customer of East Capital had signed a...

contract with our company which includes listings of fees that can be incurred by non-payment of advances along the pre-negotiated terms of a signed contract. The $2,500 fee [redacted] is referring to was incurred as a default fee when he blocked ACH payments from his bank account via R08. At the time that [redacted] blocked payments to our company, he had not yet made a single payment on his advance and had incurred three separate bounce fees, which our company never collected from his account. Upon request of payoff and a confirming zero balance letter this default fee was added to his balance to be paid off, as is stated in all East Capital contracts. Upon receipt of his zero balance letter East Capital removed the UCC on his account. [redacted], by virtue of his non-payment and filing of an R08 has disqualified himself from obtaining more capital from our company, however we have tried to provide continuing support and to address his outstanding concerns via email. According to the terms of his contract, [redacted] is now fully paid off on his advance with our company. He is not eligible for a refund of his default fee as his account was in fact a defaulted account.

Revdex.com:
At this time, I have not been contacted by East Capital Funding regarding complaint ID [redacted].
Sincerely,
[redacted]

Review: I have a merchant advance with this company. Ran into trouble with payments and had to stop payments, creating a breach of contract. Spoke with [redacted] and worked a deal to begin daily payments again at half price for a few weeks until I got myself back on track. Received a very large offer from another company, Merchant Bridge Fund, I did not realize at the time these two companies run this scam to get themselves paid quicker. So they offer me a large approval, but East coast must be paid off first and verified. East coast offers a 24hr payoff reduction of 75% value. If you don't payoff completely in 24hrs they reissue UCC filing. Little did I know these three people, [redacted] and [redacted] of Merchant Bridge Fund all work together in this scam to make sure you never hit the 24hr deadline, but EastCoast receives it's 75% payback upfront. It is a complete scam and I am not alone, other business' have had the same thing happen to them. They are scammers and bad people, stay away from them!!! As [redacted] text me directly, "you think your the first used car salesman I ever dealt with?"Desired Settlement: Demanding complete repayment of my $41,000 that they required me to pay upfront and continue with the terms of my contract.

Consumer

Response:

At this time, I have not been contacted by East Capital Funding regarding complaint ID [redacted].

Sincerely,

Review: WE HAD A EMAil from AVI at east cap a paid in full amount and once we paid that amount than we were told that there was an additional 2500 dollars required!!!!!!!!!!!!!!!!!! this is very un acceptable and everyone at east cap says [redacted] diamond is the only one I can talk to about the added charge,which I have called and left messages for [redacted] to call me about for over 10 days now.....Desired Settlement: 2,500 check or wire the funds back to my bank account.......

Consumer

Response:

At this time, I have not been contacted by East Capital Funding regarding complaint ID [redacted].

Sincerely,

Business

Response:

[redacted], as a customer of East Capital had signed a contract with our company which includes listings of fees that can be incurred by non-payment of advances along the pre-negotiated terms of a signed contract. The $2,500 fee [redacted] is referring to was incurred as a default fee when he blocked ACH payments from his bank account via R08. At the time that [redacted] blocked payments to our company, he had not yet made a single payment on his advance and had incurred three separate bounce fees, which our company never collected from his account. Upon request of payoff and a confirming zero balance letter this default fee was added to his balance to be paid off, as is stated in all East Capital contracts. Upon receipt of his zero balance letter East Capital removed the UCC on his account. [redacted], by virtue of his non-payment and filing of an R08 has disqualified himself from obtaining more capital from our company, however we have tried to provide continuing support and to address his outstanding concerns via email. According to the terms of his contract, [redacted] is now fully paid off on his advance with our company. He is not eligible for a refund of his default fee as his account was in fact a defaulted account.

Consumer

Response:

At this time, I have not been contacted by East Capital Funding regarding complaint ID [redacted].

Sincerely,