Posted by caryn keller on 10/29/06 10:47pm
Msg #156058

Payments?

I have been a signing agent for just under a year. My business is really picking up and I am dealing with a lot more signing companies. That's the good news. I find that collecting my money is a problem with some companies. Some act like the forgot to pay me and just misplaced the info., One company I did have to threaten with small claims court. (I did get paid) And two title companies don't want to pay me because the borrower canceled. I plan to take them to court also. My question? Have I just been unlucky or is this standard for the business?

Reply by Larry/Ca on 10/29/06 11:06pm
Msg #156061

I live in California also, Lake Tahoe, and have also been doing this for a little more than a year. My oldest receivable is about 45 days. About 150 signings and have not had to call to collect yet. I feel lucky considering the non-paying posts on this board. I do not take signings from companies, SOX for example, that have real bad reputaions here. There are few notaries in my area, perhaps thats why I haven't had collection issues. If your in a saturated area and they can shine-you-on and always find another perhaps that weights in.

Reply by Pamela on 10/29/06 11:14pm
Msg #156064

Caryn,

Hi!

I started doing signings earlier this year and am still somewhat new.
With the exception of one company, I've not had a payment problem.

My suggestion is to always research a company, on the various notary boards,
before signing-up with a company or accepting an assignment. In this way,
you'll have an idea (more or less) as to the type of people you are dealing with.

Also, be sure to thoroughly read each contract (if required), before working with a new company, so that there will be no "payment" surprises. And if there is not a contract,
ask questions before saying "yea" or "nay" as to a company's payment policies.

For example, some companies will pay full fee for a cancelled loan. Other's will not.
Some will only pay a "trip" fee or "printing" fee. It's your choice as to accept these
terms or not.

And, always request and receive payment confirmation in writing, before printing docs.

(This was the problem that I had with the one company who did not want to pay me,
our agreed-upon fee. Reason: I did not have the payment confirmation in writing. Had to inform them that I was going to report everyone to the various regulatory agencies, print and electronic news media, and the Better Business Burea, in order to receive payment!
This was my "non-payment learning" experience. Now, before I print anything, I must
have the confirmation in writing.)

Remember, just because a company calls you for an assignment, does not mean that you
have to accept. Be selective as to whom you chose to work with. It will save you much headache!


Pam

Reply by Pamela on 10/29/06 11:19pm
Msg #156065

Re: Caryn, Spelling Correction

Last paragraph, second sentence!

Should read:

Be selective as to whom you choose to work with.


Pam

Reply by BP/WV on 10/30/06 7:37am
Msg #156092

Caryn-

My first year was terrible. I started doing closings part time in 1996 and did not have the resources such as Notary Rotary et al.

Needless to say, I had my fair share of unpaid invoices at the end of that year. I now prefer to call it my “learning year”. I learned who pays and who does not. I think everyone starts with “feeling out” those who call us for closings.

I cannot stress enough how important it is to research the companies that one has never been contracted with.

Reply by Mary Steele on 10/30/06 8:05am
Msg #156093

Welcome to the notary business! Unfortunately there are some seedy companies out there. I make sure to jot down all escrow/title company information, ie...tel, address, and escrow numbers before I close up the Fed Ex envelope. If the signing agency does not pay me...I call the escrow company and tell them what a crappy business they are dealing with. They may botch their account with that title or escrow company.

Reply by LkArrowhd/CA on 10/30/06 8:34am
Msg #156098

Re:I agree with Mary on this one, no pay from SS.....It's

that simple "I'm telling" there is no excuse for slow or no payment and there are plenty out there that do this to the notart. I say out them, of course you most likely will not work for them again but at this point "who cares" and "who would want to"