Tennesseahawk
Veteran Expediter
If I don't trust someone while he was with one company, why would I trust him with another? Seems like good information to me.
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- Thread starter blizzard2014
- Start date
If I don't trust someone while he was with one company, why would I trust him with another? Seems like good information to me.
I was just trying to show that the person in question isn't even owning up to the fact that they had the company for two and a half years. If the company failed, why not just own that fact and then move on. Why try and erase the fact that you had the company from your resume? Everything I posted is public information provide by the state of Michigan. I only posted this because I don't want this person to disassociate themselves from the past. It happened and we all know it happened. Hopefully these types of things will not happen in the future.
Also, there is no real way to check a carriers credit score unless they have their broker authority. Maybe brokers need to have a 75 thousand dollar bond, and also shippers. They need to make it so that if you lose your good standing with your bond company, you or your immediate family members/business partners can't just go out and get another bond. Perhaps some sort of third party driver payment system would be a good solution. Where the driver is paid his share of the load, then the broker and carriers are paid their share. The same thing would wok really well for fleet owners. Time and time again we see that brokers, carriers, and fleet owners are incapable of handling their cash flow and it is the drivers who usually pay the price for this. Why not have a third party system in place to prevent this kind of thing from happening in the future? The FMCSA is fairly new. What was it January 2001 when FMCSA was founded? We're still in the infantile stages of regulating an industry that operates like the wild, wild west. More improvements can be made!
It's not that hard to pay your drivers. You book the load, factor it, then pay your drivers and move on. Some people just get so excited when they see large sums of money. I never looked at the money like that. The money is the drivers money. Also, if you only work with good brokers (I know who the good ones are) you will never have any charge-backs. Sure you will lose some good loads, but that is the way it is when you operate the right way. I worked with a factoring company that had a 99.9 percent collection rate. That means that we lost some loads from non-factorable brokers, but we never had payment issues. I could have also did what Murray did and pay the drivers every time the brokers pay me, but I knew that most drivers don't always have their financial house in order. Cash flow is a big factor in this business. Waiting for three weeks for pay can put a lot of drivers in financial ruin. I always paid my drivers within a few days of the load being delivered. I never charged the drivers a premium for that. Out of 60 trucks, I only had two drivers who didn't need the money that fast. I still prefer to pay fast and keep the books clean. I hate clutter.
Any how, I just want people to own up to their past. I own up to everything I have done. I hope you all are having a good week. Happy fishing!
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TK, the factoring company never loses money. If you factor a load and that broker never pays the factoring company, they will charge back the money on current invoices. If you just factored a good load for 1k and the other broker has not paid your factoring company for 60-90 days, the factoring company will take back that money from your current 1k invoice. Then you have to eat it and pay the driver out of your own pocket. That is why it's important to be very selective about who you run loads for. The factoring company does not necessarily go after brokers for non-payment. The more time a factoring company spends tracking down their money, the less money they make off of that account. Hence, they will simply charge that money back to you, stop factoring invoices from that broker, and you will be left holding the bag. You have to know what companies you can do business with. That comes with time and experience. New brokers/carriers have a steep learning curve. I had done dispatching/booking my own loads for a number of years before I started my own company. I also was in contact with three people who were running on their own authority. One of which was "60 MPH" "Phillip" and I already had been working with a number of brokers over the years before I went out on my own. The only way you're going to get charge backs on good brokers is if they go out of business completely without any warning. If they are starting to pay in 60 days when they used to pay in 30 days, that is a sign that there are financial issues going on with that broker. That is when your factoring company will start to limit the amount of invoices you can have for that particular company. Some brokers I was only allowed to factor one at a time. Some only 2 to 3 invoices at a time. There are a few brokers that pay so fast you don't really need to factor them. Panther is one, Express Family is another, CH Robinson is another.
As you can see from my last post, It is never the factoring companies problem. Now, some factoring companies will offer legal services to collect from brokers, but they will take 40 percent or fifty percent of the freight bill to do so. You will still owe your drivers the other fifty percent. Factoring companies are not in the business of losing money. Also, most good brokers (even if they pay slow but have been around a while) will cut you a check when you contact their bond company. In 95 percent of the cases that is all it takes to light a fire under their butts to get you paid. If that doesn't work, then they are probably having a lot of financial difficulties.
tknight
Veteran Expediter
It always pays to read the fine print a few times , I don't have to deal with factoring co that's what the pimps are for! It's just scary there are so many on the no fly list and it takes a lot of reading between the lines , in my other business its cash or nothing comes out of the truck , or worse we won't even load the truck
Whenever I get a last min show to be done there's a red flag in the first 45 seconds as why are they calling you what did they do to need this at the last moment, usually I'm right !
The reason why there's a lot of brokers on the no fly list is because if a broker takes longer than 30 days to pay, the factoring companies lose money. They don't have the resources to be tracing down invoices all day long. Some of the brokers on the no fly list are good brokers, they just take normal than longer to pay. In those cases, you can ask for a comcheck to be authorized 15 minutes before your driver delivers the load. I have done this with Nations Express before and If the broker is desperate, they will do whatever it takes to get the load moved.
JohnWC
Veteran Expediter
Isn't the same with some of the fleet owners. It surprises me how many drivers does it take to complain about not getting paid and the company still putting drivers back in trucks with same fleet owner.
I deleted the post. I was having a bad day yesterday. You guys can just go ahead and lock this thread. I won't bring this topic up anymore. I am all good now. You don't have to moderate every future word, sentence, and paragraph I post. I never intended to break the rules. I get a bit carried away at times. Sometime I do take things to the Jerry Springer level. I need to just let things go. I read a new rip-off report and it sent me over the edge. I was already going to come back in tonight and delete the post. Like I said, this morning was a very bad morning for me, and I let my emotions get the better of me.
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... and yet you just did, after promising privately you would not. Ripoff Reports are notoriously one-sided, invariably inaccurate, and are almost as worthless as drive-by postings on EO. Mentioning an unsubstantiated Ripoff Report here is astoundingly lame, petty and childish. You won't be, but you should be ashamed of yourself. Instead of taking the professional high road, you took the subterranean Jerry Springer route. Posts #11 and #13 in this thread cover it pretty well.
As a result, you may no longer post replies to this thread.
I do not recommend starting another thread to continue ragging on this or any other individual with whom you have personal issues. If you do, at that point all of your posts will be Moderated, where a moderator will have to review and approve your posts - if and when they get around to it.
Credit checks? ...The real solution would be to obtain personal guarantees from every company and individuals we conduct business with - and if those companies and individuals truly had the assets to really back their personal guarantees - what a wonderful world this would be.
"personal guarantee"...that sounds like "your check is in the mail"...lol
It's all good brother! That's the beauty of the EO community. It's group therapy
