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Infolawyer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 6806
Experience:  Licensed attorney helping individuals and businesses.
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Ken - early termination fees on a factoring agreement JA:

Customer Question

ken - early termination fees on a factoring agreement
JA: Thanks. Can you give me any more details about your issue?
Customer: I have a contract with a factor company to provide my line of credit. I have made arrangements for a more traditional line of credit. The factor is providing a payoff amount that includes an early termination fee. Their contract references an early termination fee, but never provides the rate or how to calculate the fee. Don't they have to provide a rate calculation or some type of detail of how it is calculated on the contract?
JA: OK got it. Last thing — Consumer Protection Lawyers generally expect a deposit of about $18 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Infolawyer replied 1 year ago.
what would you like to know about the termination fee?