Quick Answer: Pearl Capital complaints typically involve aggressive merchant cash advance practices, including confession of judgment clauses that allow account freezing without court proceedings. This California business owner lost $80,000 after Pearl Capital froze personal accounts despite the business receivables not yet existing.
Consumer Statement:
Pearl Capital, LLC contacted me at my business offering to buy my credit card receivables from my business that did not even exist yet. They sent me a bunch of forms and one was a “confession of judgment” and they froze my personal accounts.
Consumer Action Taken:
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I asked if they would release my accounts and they said no.
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Date This Problem Happened: August 28, 2015
State You Live in: California
Race/Ethnicity: White
Age Range: 36-50
Total Amount of Fee Paid: $80,000
Company Name: Pearl Capital, LLC
Company Address:
40 Exchange Place
New York, NY 10005
Company Telephone Number: 800-888-9959
Website of Company: PearlCapital.com
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