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Updating Payment Information-Has a Factoring Company
Updating Payment Information-Has a Factoring Company

Process for carriers who use a Factoring Company, and how to release them or change factors

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Written by Steven Arevalo-Armendariz
Updated over 6 months ago

Removing a Factoring Company

If you are using a factoring company, we cannot update your payment info in any circumstance unless we receive a Letter of Release (LOR) from your factoring company.

If you have a factor selected on your Carrier Packet mistakenly, we cannot send payment anywhere else until we receive this Letter of Release (LOR).


โ€‹Please be sure the information on your carrier packet is accurate and up to date.

Requesting a Letter of Release from Your Factoring Company

This LOR has to come from the factoring company, addressed to us, before we can change the payment information to any account other than the Factor.

Please request your factoring company to send the Letter of Release to apinquiry@vorto.ai.

Once we receive this information, please have a voided check on hand to provide to us so we can update your payment information.

How to begin using a Factoring Company

If you wish to begin using a Factoring Company we cannot send payment till we receive a Notice of Assignment (NOA) from the factor.

  1. Please request your factoring company to send a Notice of Assignment (NOA) to apinquiry@vorto.ai.

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