Posted by sign4you/CA on 4/13/06 7:36pm
Msg #113463

Non-Paying SS....Chasing your $$

Newbie...Just thought I would make that announcement. I got into this business because I needed the flexiblity to set my own schedule esp. with two kids under 3! However, I signed up with least 20 SS and I know there are tons out there that I still need to research and sign up with. But what's making me ill is the fact that alot of these companies are just not paying you people for your time and experience..and I agree that if everyone stick to their guns eventually these SS will be more than a fool to even request a $50.00 signing! NOW, with that siad and please don't execute me for my next opinion and being contradictory(if there's such a word). Because I am new, I'm looking for the experience and comfort level and I may very well take a $50-60 signing with some restrictions; (Milage, edocs...etc). So far most of the companies that I have signed up with are local and driving distance, so if they don't pay I can at least pay them a visit. I feel like i'm already chasing my money and I haven't even had my 1st real signing....Not a good feeling to say the least.
What drastic measures have you taken to get your money...obviously a phone call, e-mail, and/or invoice is not working! i just want to armed and ready.

Reply by CaliNotary on 4/13/06 8:19pm
Msg #113467

"NOW, with that siad and please don't execute me for my next opinion and being contradictory(if there's such a word). Because I am new, I'm looking for the experience and comfort level and I may very well take a $50-60 signing with some restrictions; (Milage, edocs...etc)"

If it's something very close to you I don't think any of us have too much of a problem with you doing some $50 signings for experience. Just don't EVER accept anything below that.

As for the non payment thing, it seems more exaggerated on this board than it really is. None of us post about all of the on time payments that we receive, which is the vast majority of the work we do.

It seems like you've done your research already, just keep reading this board and you'll learn which companies to avoid. As long as you do that, you probably won't have too many problems collecting.

Reply by BP/WV on 4/13/06 11:01pm
Msg #113507

You should NEVER have to chase down your money. I associate slow pay with no pay and that is bad business. Unfortunatly, it happens.

If payment is not received when it is to be expected, I give one courtesy call. I always speak to someone in accounts payable and *try* to get a date that payment will be mailed. If nothing shows up, I bring out the big guns and send a registered/return receipt letter demanding payment. I carbon copy and reference each recipient - Attorney General (state that business is in), BBB and the lender. I send copies of the confirmation with fee highlighted to all.

I've only had to do this twice - both times, payment was received within 15 days. (one sent payment via Fed Ex overnight)

Do a search for "no-no list". You will see a large list of companies that are not good to work for. You just have to research this forum and see what experiences others are having. I have created my own list and was able to do this by research and expierience.

Reply by Amy_CO on 4/14/06 8:24am
Msg #113561

I read your post and I would search my handle for the post I wrote concerning this line of work and having small kids. Your situation might be different from mine and there were other opinions concerning this issue but I found it very difficult to juggle small kids, childcare and loan closings for the mere fact that you never know when you will get closings (especially if you are starting out).

Something to consider in your research.

Reply by MelissaM_FL on 4/14/06 9:43am
Msg #113576

Collecting from Non-Paying SS...

We fax our invoice the day after the signing, no matter what other format the SS or TC uses. This gives the company notice that we a. expect payment whether the loan funds or not, b. give a small discount if the invoice is paid within 30 days of the invoice date and c. charge a late fee if the invoice is not paid within 30 days of the invoice date.

Right now, out of 200+ outstanding invoices, only 2 are over 30 days old. At the beginning of February, before we started using the new invoice procedure, we had 22 over 30 day invoices. The 2 that are still outstanding were in that batch.

We had one from Signatures Plus last year that hit 120 days. At that point, I notified (via fax or email) the BBB, the Attorney General, title company and lender that this debt was owed and that I expected it to be paid via overnight mail, in certified funds, within 3 days. I received a check for my full fee via fed ex the next day.