merchant solutions group debt collection

These people called me for weeks and sent me all kinds of sales materials when my business started. Debt Collection Merchant Services - Merchant Card Advisors If you are a small business owner avoid these crooks like the plague. Get clarity before you switch. They charged me $300 for what they called setup charges. This company was nothing but deceitful from the beginning. My contract ends in January 2015 and I am looking forward to it. In light of the companys complaint total and resolution ratio, we have adjusted the BBBs rating to a C for the purposes of this review. I should have closed my bank account the minute we closed our business so I could have avoided all of this. You want a merchant account provider who has the experience and more so one with experience working with high-risk industries like yours. I had joined Merchant Solutions because they told me there is no contract and no charge for the machine. As a debt collecting agency, opening a debt collection merchant account is the best thing you can do to improve your business cash flow and offer more payment options to your customers.. Now they have charged me with a PCA compliance processing fee of $149, payable annually. I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. Dont take their Free credit card machine or any of their so-called free equipment as they will charge you a $350 Restocking Fee when you try to close your account after you find out they are overcharging and ripping you off on credit card processing fees. The debt collection industry is a high-risk one, which means that business owners who want to start a collection agency may face a few hurdles when looking for a merchant account thats right for them. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); BE AWARE!! Seriously they will destroy your business. On the downside, Durango doesnt disclose its pricing plans to the public on its website, which can be frustrating. How to tell the difference between a legitimate debt collector and Debt Collection Industry and Merchant Accounts That said, rather than try to sign you up for an overpriced equipment lease, Durango offers terminals, PIN pads, and mobile card swipers for direct sale on its website, and its payments gateway is a proprietary product. Phantom debt collectors impersonate law firms | Consumer Advice eMerchantBroker.com is a Los Angeles, California-based company that offers high risk e-commerce processing solutions including debt collection merchant accounts.The company's products include ACH processing, an online payment gateway, merchant cash advance, and a chargeback management system to help merchants dispute and resolve chargeback claims. one year. If you are thinking of signing up with them just read the BBB website with all the complaints against them and read how they arrogantly respond and refuse to ever admit they are wrong. They are very rude and they will not correct the problem with me even though they said they would. Which Collection Agencies Will Accept a Pay For Delete Agreement? In some cases, this leads to merchants contracting with debt collection agencies. This Post Might Help: Cancelling a Merchant Account Without Paying a Fee. They are awful and very dishonest do not use them. Why would we want a service we couldnt use? services due to the high risk associated with debt collection businesses. I DO RECOMMEND THAT YOU DO NOT ATTEMPT TO USE THEIR SERVICES!! When you should have paid 1.62. This means that you could, effectively, lose your ability to run your business. Merchant Mavericks ratings are not influenced by affiliate partnerships. Check out their google and Yelp and RipOffReport.com reviews for the testimony of hundreds of other customers who have been ripped off by The Merchant Solutions! Learn more about dealing with debt collection at ftc.gov/debt. 2985 E. Hillcrest Drive Beware, do not do business with merchant solutions. So then I cancelled and they charged me a $945 restocking reprogramming fee? When scammers threaten to arrest you, suspend your driver's license, or call your employer if you don't pay immediately, hang up and report the collector to the FTC at ReportFraud.ftc.gov. Stay away from Themechantsolution!!! This means that our job is to reduce the risk of any transactions for the merchant bank. I was told thay my rates would be as low as 1.5%. He has nearly two decades of experience in card payment services, both as a former merchant services sales representative and as a professional journalist covering the payments industry. The Merchant Solutions then hit me with a new $99 a year for a so-called PCI Compliance Program charge, a $35. We were charged a $350 restocking fee after being told there would be NO FEES. PayKings, although a high-risk specialist, ironically exacerbates issues with reliable streams of revenue that are common to the debt collection industry. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. I was charged a cancellation fee for an account they had no authorization to open and then when I called to cancel they said they needed a signature. Since debt collection merchants are considered high risk, traditional banks and other financial institutions usually try to stay away from this type of businesses. The Best Merchant Accounts For Collection Agencies & Debt Collectors. The Merchant Solutions has been accredited with the Better Business Bureau since 2010 and currently has an A+ rating and has received 2 complaints in the past 36 months. There is no monthly fee but there is a monthly minimum fee meaning if you dont process the requirement you are charged that fee. Also even though I had cancelled in June, in July they also charged PCI compliance of $99.00 when I did not even process with them. Lots of hidden fees that other companies dont charge! Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. Independent sales agents are often paid by commission and are therefore motivated to sign merchants to the most expensive contract terms they can. Weve been hit with so many fees that are hidden and that they deduct for no unknown reason as they do not tell you before hand. Better look for alternatives. Youre also working with a business that knows your problem and has the fix. Many other high-risk merchants are notorious for offering card readers and monthly gateway fees, but Durango helps new collection agencies set themselves up for affordable success by making its hardware directly for sale online. Different benefits and drawbacks that come with high-risk merchant account providers make it particularly tricky for new agencies to find a merchant account thats the right match for them. When their machine failed, they blamed me even though the manufacturer of the machine explicitly explained to me that TMS was to blame for connection security error. These processors offer Quickbooks integration and have low rates. But the majority of merchant-acquiring banks reject applications from debt collectors because of the collections industrys complicated reputation. Horrible company. Weve resolved overdue accounts for clients without damaging customer relationships. *Rates quoted as the % above normal card interchange costs, dues, fees, and assessments. Due to the unique processes we have in place, we can offer affordable rates for our services. This company, Merchant Solutions, is a fraud. Our integrations connect you with the best tools for your business. They terminated my account for non use since I was using another company and had not transferred over yet. You may be charged fees for using this account. SAVE YOURSELF THE HEADACHE! I will make sure this is my last time using this company. 180 Maiden Lane, 15th Floor. When I wanted to cancel they wouldnt send me the cancellation form for weeks. Since 2017, Noah has worked for federal, state, and commercial clients as a proposal writer, technical writer, copywriter, and analyst. Our proven Merchant Cash Advance (MCA) default recovery solutions are proven to turn your delinquent accounts back into cash. Merchant Solutions retail credit card processing solutions allow merchants to offer flexible methods of payments at the point-of-sale, including major credit cards, debit cards and checks. DigiPay Solutions has created a "Debt Collection Industry Primer" with important information about setting up a merchant account, controlling chargebacks, managing risk and keeping merchant accounts in good standing. This company and its employees are rude, I have been trying to cancel and they make it difficult. All they do is to get you sign up the contract, but be sure to read the fine print on auto renew, they will auto renew you into another contract even their machine never works. Debt Collection Agencies & Lawyers in New York If you received a court Summons and Complaint, or have been threatened with lawsuit for a consumer credit card account in the states of New York and New Jersey by one of the collection agencies below, or by one of their debt collection lawyers, contact us to learn your rights. With a unique regulatory background and experience in high-risk industries, Flex Payment Solutions offers credit card processing that integrates simply with your system, full transparency on fees and 100% compliance. Speaking of unreliable income streams, most collection agencies struggle with customers who dispute the validity of past-due payments with banks and credit card companies. eMerchant Authority specializes in merchant accounts for high-risk businesses; this includes debt collection agencies. Some merchant account providers may offer high fees. Amazing! I have tried to use card reader several times without success. They bill me $100.00 more for the first month & when I complained they told me they going to have a rate review and correct it, the second months they did the same, one week in the third months I stop using them for processing and then they threatening me with a $495.00 early termination fee that I cross in the application then I find out that Daniel A. forged my initial and change the page. The market research firm IBIS World reports that the debt collection industry represented a $13 billion market in the US as of May 2013. The creditor may also hire a debt collector or sell the debt to someone who may try to collect the debt. Learn more about our monetization policies here. From The Editor Customer service is a joke and they just gave me a run around, once even saying they would transfer the info to the analytical Dept while the rep was laughing. Do not believe anything they say about their service. I signed up with them and then realized my mistake as I was hit with overcharges on fees as soon as i charged my very first customer. We are on our 4th machines, the terminals are very light, and very cheap looking, they break all the time, but when you try to get out of the contract because of it, they will say something like, but we can trouble shoot for you. This lack of transparency in pricing is typical of the industry in general. eMerchant Authority is a registered ISO of Woodforest National Bank, Houston, TX Member FDIC. Pure scam artists just looking to steal your hard earned money. The second your merchant account closes down is the second that you are no longer able to accept payments for your company. They have been lying to me since day 1 of signing up with them. All feedback, positive or negative, helps us to improve the way we help small businesses. Copyright 2023 eMerchantBroker, LLC. DO NOT EVEN talk to their salespeople. See Which Processors Offer No Monthly Fees And No Contracts. Whether youre building your agency from the ground up or already have a business that needs to switch to a better merchant account provider, your agencys success depends on multi-channel payment support, systems to combat fraudulent chargebacks, and transparent pricing plans and contractual requirements. However, pricing is not disclosed on either of those services. Our 24/7 customer support team is always on call to answer your questions and attend to your needs. Swipe credit cards securely by implementing PCI compliant payment solutions. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. Merchant account providers know that there will always be a bit of a risk dealing with debt collection agencies. This means that your business will be making a lot more profit for each transaction. Sequoia Financial Services - 2021 Home - Merchant Solutions LLC We have focused on merchant cash advances over two decades. I have never had any other merchant?! And, likeseveral other merchants weve covered in this article, Soar doesnt publically disclose its pricing plans on its website. They need to see whether you have run into any issues previously, particularly when it comes to chargebacks. Kim, this just happened to me and I wanted to see if you had any outcome in your situation. Every review above has happened to me too exactly like the above. not explained. Seeking to take them to court for their theft. TMS offers a dedicated support phone line and an email form on its website. Clover is the company's proven solution that makes it easy for small businesses to accept payments and run their day-to-day operations, from reporting and inventory to invoicing and e-commerce. The Merchant Solutions offers a variety of e-commerce services, Audit Your Current Statement To Find Its Hidden Fees. dont believe what they tell you The overall household debt for an average family increased by 11% . Numerous times I informed her that we already had an account with a different company, and we were not ready to transition but would be happy to look at the numbers. RUN! HORRIBLE ! Additional rates and fees, including a technical support fee may apply. In addition to those 2 complaints, the company has received 58 informal reviews. Toll free: (888) 544-9711. When a customer disputes a transaction and gets a chargeback, the merchant is free to consider the reversed payment an outstanding debt and treat it as such. Once the application process starts, we will find the best merchant account for you. Collection agencies require a merchant account provider that supports over-the-phone as well as online payment processing and facilitates timely consumer payments to prevent interruptions to revenue streams. Screw this place I wish their was a way we could put them out of business. Either the sales agent or someone at Merchant Solutions copied my contract changed the account numbers and other information to open a second account that involved a terminal. To support this enormous responsibility we earn some of our revenue through affiliate fees and advertising. This is very dishonest company with deceptive business practices. JUST SAY NO. Ive called them over 15 times, and each time they blow me off, or offer me a partial refund if I delete the negative (yet accurate) Yelp and Rip Off Report reviews I left them. We work to advance government policies that protect consumers and promote competition. Don't Fall Into An Expensive Trap. the 24/7 support is fake, they never support you on weekends or after hours, NEVER finally i got my business closed and I was lucky someone bought my POS, because otherwise i had to pay 950 USD to them for cancelation, the funny thing is when i transferred the pos system to the other company name (the company that bought it) nobody told me that i should request a cancelation form to cancel my account, SO i ended paying 67 USD a month after the system was transferred and being used by their new client Finally i sent the cancellation form beginning of the month, 20 days later i called them and they said yes we received it, but you will be charged for the next month (67 USD) because that is our policy PLEASE NO ONE CHOOSE THIS COMPANY, THEY ARE REALLY BAD, THEY WILL STEAL YOUR MONEY AND YOU WILL KEEP PAYING THEM EVEN AFTER YOU END YOUR CONTRACT WITH THEM. Merchant Cash Advance Debt Collection Services | Monetaria The Merchant Solutions fees and terms are average for the industry, so we have given TMS a C in this section. In addition to its support for merchants who may be on the TMF or MATCH List, Durango also works to prevent chargebacks in the future with multiple reputable anti-fraud services. I was to have 1 account with Merchant Solutions ! Find the resources you need to understand how consumer protection law impacts your business. Due to the unique processes that eMerchant Authority has in place, the risk of a chargeback is low. These revenues in no way influence our ratings or reviews. Within a month or two they charged me a yearly acct fee of $80.00 and then out of the blue raised the monthly rate to $20.00. The Merchant Solutions is definitely THE worst credit card company EVER!!!! Payment plans, too, are transparent and predictable enough for even very small debt collection businesses to quickly parse through and understand. Youll first need to navigate the logistics of processing different customer payment types with different pieces of hardware. You could tell a collector to send a validation notice. They also debited my account for $395.00 for a cancellation fee even though I cancelled my account 4 months after my contract was over!!! Credit & Debt Collections Merchant Services - DigiPay Solutions Copyright 2020 eMerchant Authority | Website by JM Marketing. This means that you cannot work with companies like PayPal or Square. Worse company ever. While the process for applying for a merchant account with us is not instant, we have been doing this a long time. when you cancel.Please take your business elsewhere. I am looking to upgrade 4 of my restaurants systems. Instabills main draw is its services to high-risk international merchants that process offshore payments, although its support for brick-and-mortar agencies that need on-site payment processing leaves something to be desired. They Are Not truthful about their service. for lack of use and Merchants want 490 dollars to terminate service. Complaints for Recovery Solutions Group, LLC - Better Business Bureau Thousand Oaks, CA 91362. You almost certainly will not be able to work with companies like PayPal. He was patient and knowledgeable and I am more than pleased with the assistance I receive from the Merchant Solutions. Remove Recovery Solutions Group From Credit Report We ordered their smartphone credit card processor and found that their application was incompatible with our phone we couldnt use it so decided to return product and cancel service. Phillip created this website and has written over 1,000 articles regarding all things payments. Their charges are exhorbitant. We have lowered the companys score in this section to a C to reflect this consistency. The worst company to do business with ever!!!! In the United States, all debt collection companies will need to conform to the Fair Debt Collection Practices Act (FDCPA). Credit Consulting Services, Inc. is an accounts receivable management firm that provides solutions for reducing bad debt and improving overall cash flow for businesses in Los Angeles, California. This company is a bunch of scam artists charging a early termination fee of 395 after we were with this company 6 yrs and only had a 3 yr contract which they took upon themselves to renew, charges for non compliance because they decided to switch companies for their compliance when I was compliant through April of 2013 and now a $50 fee for refurbishing,, it is not my problem that they need to refurbish a machine. These people are the biggest crooks Ive ever encountered. As is the case with other industries that fall into the high-risk category, collection agencies operate in an unstable regulatory climate and unfortunately experience a higher risk of unreliable streams of income. Debt Collection Agency Merchant Services, Collection Agency Credit Card They would take their sweet time to deposit my earnings but would immediately make unauthorized withdraws, even after my account had been closed. This company will be out of business in one year or less. The Merchant Solutions processes most major payment types. The job of the business, however, is to ensure that they have processes in place to keep this risk down to the absolute minimum. This is an attempt to collect a debt and any . * The terms and conditions of this promotion currently cannot be found on the website. These merchant account providers offer high-risk businesses like collection agencies a square deal when it comes to payment processing. One The Merchant Solutions complaint mentions that TMS relies on Authorize.Net or PC Charge Pro for its online payment gateway; if this is the case, Authorize.nets payment gateway will be chargeda per-transaction fee of 2.90% plus $0.30 and a daily batch fee of $0.10 in addition to the $25 monthly gateway fee. They may require countless numbers of documents. Customer service is horrible. Offers automated account application and custom quote processes. Look out for credit card processors who offer other merchant solutions that could be useful for your business. YOU WILL BE SORRY! Because of their undisclosed fees and charges I ended up paying more than my previous company. They said they had cancelled the account, but the following month we were charged again. If they cannot guarantee this, then you will likely not be offered a high-risk merchant account with that company. Fast turnaround: as little as 1-2 days. MERCHANT SOLUTIONS GROUP OPENS DOORS Business owners need capital to grow and manage their companies. In addition his contributions here, Phillip has also been quoted in several major publications such as The Los Angeles Times, INC Magazine, Miami Herald, Computer World, and numerous others. The rating of this company or service is based on the authors expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Collection agencies that process mostly credit card payments should keep an eye out for merchant account providers that support virtual terminals. Debt Collection Agency Merchant Services, Collection Agency Credit Card Processing Collection Agency Merchant Account Solutions At Premier One Payments, we are the rare merchant account services provider that is ready and willing to work with collection agencies. They are beyond shady and dont care at all about customer service!!! They charge for any reason and they have a lot mistake they charge me before even i start with them for $28 and when i called them they said that was mistake they charge me $39 and $69 for annual fee and i just work with them a few days. You can get your approval in as little as 24 hours. Lets start with the salesman Daniel A. 844-66-CFGMS (844-662-3467) This means that you can always stay on top of any transactions that you are making. They changed my contract, billed me a ton more without giving me an opportunity to opt out. I got the notification in the mail 2 FULL DAYS AFTER they had billed me. Several complainants outright accuse the company of being a ripoff or a scam operation. this will happen if you change to another company. Recovery Solutions Group, LLC (RSG) Contact Information. The company is headquartered at 22801 Ventura Boulevard Suite 300, Woodland Hills, California 91364. Debt collection businesses should partner with a merchant A business that accepts credit cards for goods or services. Get Started With Durango Merchant Services. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. However, you need to hire a merchant debt collector account provider who offers merchant collection solutions that meet your company's needs.. To know the right provider, here are factors to consider when . This field is for validation purposes and should be left unchanged. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. Also, youll be required to submit the following: Your collection agency must be legal when your applications are being reviewed by processors and underwriters. He has also researched and published reviews about nearly every payment services provider and processor. Austin Smith was very knowledgeable and helpful! Although their websites navigability can be clunky, PaymentClouds history of few public complaints and excellent track record for customer support suggest that overall, it is a helpful and easy-to-work-with payment processor. Ensure you understand the contract terms and all the costs involved with the credit card payments before you sign the contract. It is not intended as legal or financial advice. Do not get trap by this company. Certain payment gateways services support ACH payments and may be included as part of a payment processors list of basic services. High-risk specialist with anti-fraud and anti-chargeback protections. This is why we want to help you get the right debt collection merchant account from the very start. I set up a payment arrangement . This form is for feedback only. These are charged beyond any percent fees. Get your cash flowing again with our Merchant Cash Advance debt recovery solutions. Search the Legal Library instead. I cant seem to get anywhere with phone calls to the company and have been shuffled around so much that I think everyone that answers the phone is a supervisorbecause that is always what the last person tells me they are transferring me to. Horrible company. I didnt fill out anything to open OR close the account and today was hit with $495 fee. We have located multiple The Merchant Solutions customer service numbers: (888) 707-2836 Toll-Free Customer Support/Sales