Posted by Yowheelz on 6/18/08 3:17pm
Msg #251860

Update on TS Closings ie Title Stream

After numerous phone calls I finally got a call back today concerning past due accounts. The poor soul that got the job of calling me very nervously told me that the company was seeking financing to pay their accounts and that I should get paid after (another) 30 days. I have unpaid closings from Feb, March and April. Foolish me for even taking the april closing after not getting paid for Feb and March. Seems the writing is on the wall, when you have to get financing to pay your bills your not usually in business much longer. Poor guy that called me said he was only an employee in the accounting dept. and was told to call me. Hope he's getting paychecks cause I certainly am not.

Reply by MistarellaFL on 6/18/08 4:10pm
Msg #251877

Sounds like another EFS fiasco waiting to happen n/m

Reply by CopperheadVA on 6/18/08 4:18pm
Msg #251884

That's exactly what I was thinking! n/m

Reply by BrendaTx on 6/18/08 6:54pm
Msg #251914

At least the nervous person told the truth for once.

Having to get financing to pay their vendors? The vendors should be paid immediately upon funding.

They have been using little notary fees to float them? That's the most pathetic thing I have ever in my life heard.

In my crystal ball I see TS going glug, glug, glug very soon. I "hear" but cannot certainly verify that they lost a large account this year....so it's more than just a slow down of work.

I will guess they aren't going to get financing and are going to close the doors one day soon and be done.

Reply by CopperheadVA on 6/18/08 7:01pm
Msg #251920

If they lost a large account, it was probably due to all the

notaries calling the lender because they had not been paid yet by Title Stream.