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Lost our money


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Hi

Can anyone help and advise

 

My partner and I contracted through a transport booking platform - they went into administration 2 months ago

 

We were using a factoring company to get paid and they were dealing direct with the booking platform company to get our money back (or theirs as they had bought our debt from the company)

 

The factoring company was also being used by the booking platform company - we were not aware of this untill they went into administration

 

Our debt with the factoring company started at 38k, they then said there was 38k of discrepencies but still paid us 24k which they got back from the administrators plus interest as they were a secured creditor, but now they are saying they are not going to pay us the outstanding 14k as they did not claim this back from the administrators but as all 38k had been verifyed and approved and the only reason they did not pay us the 14k was because they knew they were going to take the booking platform company out, but they would have got this back along with the 24k

 

How can you have an opening balance, despute the full total but pay 24k of the total then refuse to pay the balance of the opening total

 

Sorry if i'm wafling but I really don't have any ideas on how to get my money back

 

Please, can someone help and advise

 

Many Thanks

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Unfortunately I don't understand your post. It would be helpful if you could explain exactly who you contracted with and what a factoring company is. Maybe others will be more knowledgeable than me.

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Factors effectively buy invoices from companies at a discount, and then collect from the client themselves. The advantage for the company is that they get paid reliably, albeit less than the face value of the invoice, whilst the factor takes the risk and manages any late payments and debts.

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