Posted by Cindy Wynn on 3/1/07 5:07pm
Msg #177769

Is anyone familiar with SOX?

I have just been approached by this company, but I am afraid that I have heard of them before - and not good information. Anyone familiar?

Reply by Sylvia_FL on 3/1/07 5:08pm
Msg #177770

Do a search on them in this forum. Seems they are mentioned almost weekly.

Reply by Sylvia_FL on 3/1/07 5:08pm
Msg #177771

Do a search on them in this forum. Seems they are mentioned almost weekly.

Reply by Sylvia_FL on 3/1/07 5:09pm
Msg #177772

Sorry -double posting

Must have "hesitated" on the "post button

Reply by DogmongerCA on 3/1/07 5:13pm
Msg #177773

They are double trouble

and probably deserve two posts:-)

Reply by Katrina Arnaud on 3/1/07 5:25pm
Msg #177779

Re: They are double trouble

I have signed for SOX for almost one year, and to date, have not been paid for one closing.

SOX policy is for the notary to submit one invoice on the first of each month for all of the signings performed during that billing period.

On followup, accounting does not take telephone calls and does not return voicemail. SOX has consistantly denied receiving my monthly invoices for one year. My invoices have been re-faxed every month for one year, and last week their accounting department denied my request for payment AGAIN. Claim is that monthly statements were never submitted for payment.

Reply by CaliNotary on 3/1/07 5:59pm
Msg #177786

You have got to be kidding me

They haven't paid you for a single closing, yet you kept accepting signings for A YEAR??? That can't be right, nobody is that foolish.

Reply by Katrina Arnaud on 3/1/07 6:11pm
Msg #177787

Re: You have got to be kidding me

As I said, SOX has a practice of using a notary until the notary demands payment. I haven't done a huge volume of signings for them, yet the signings I accepted from them have not been paid. I will not accept any new signings from SOX even if I am paid for past assignments. I am still trying to collect the past signings. You're right--no one is that foolish--nor am I.

Reply by ZeeCA on 3/1/07 7:01pm
Msg #177798

Come on year of no pay &you still took their calls for work? n/m

Reply by MikeC/NY on 3/1/07 7:45pm
Msg #177807

Re: SOX payments

You can get paid - it just takes being a bit obnoxious. See Msg #176847. And promise us you will never accept an assignment from them again.

Reply by Grace Gully on 3/1/07 7:05pm
Msg #177800

I did 1 signing with SOX and never again, they wouldn't pay I requested several times and finally threatened to place a lien on the property of the borrower, they did finally pay.

One more to beware of is Coast 2 Coast Notaries I thought that they maybe SOX using a new name, they won't pay for a Dec. 2006 loan. Good Luck

Reply by Katrina Arnaud on 3/1/07 5:14pm
Msg #177774

Sox – Sign on the X – is a nationwide signing service with an unprecedented proclivity for not paying notaries. Their fees are well below industry standard, will use a notary until the notary demands payment, then the notary is put on a do-no-use list.

Reply by DebbieT on 3/1/07 5:24pm
Msg #177778

Dont even waste your time with SOX.

Reply by Charles_Ca on 3/1/07 7:10pm
Msg #177802

So if you know that about SOX...Cali is right...

This must be a troll. No one can possibley be that stupid as to have a years worth of unpaid invoices with SOX let alone actually admit it.

Reply by ZeeCA on 3/1/07 7:12pm
Msg #177803

Is this a joke btw? n/m

Reply by Charles_Ca on 3/1/07 8:04pm
Msg #177809

Joke? I dunno, but it certainly is surreal! n/m

Reply by Dennis D Broadbooks on 3/1/07 8:19pm
Msg #177811

One Thing's for Certain...

...if you don't know, I certainly don't!

Reply by Katrina Arnaud on 3/1/07 9:31pm
Msg #177824

Re: So if you know that about SOX...Cali is right...

Actually, if you know SOX, you know their billing. If a signing is performed on the first of the month, it can't be invoiced until the end of the month. SOX has a 45-day payment policy from the time the monthly invoice is submitted, and it is possible to do a lot of signings in that period of time. Collection time, in addition to their standard delayed payment practice, yes the time adds up.

All things considered, the people scheduling the signings are very pleasant to do business with, and I would have never suspected the payment issue. Check them out on the BBB.

Reply by CaliNotary on 3/1/07 9:45pm
Msg #177825

It doesn't matter what their billing policy is

As a businessperson you're supposed to make intelligent business decisions.

If you're still waiting for payment for a signing you did 60 days ago then there is a major problem with the company you did the work for. You shouldn't need to know their history, you shouldn't need to know their BBB rating, all you need to know is that no payment after that long is completely unacceptable no matter WHAT the circumstances. And when a company reaches the point of being unacceptable with their payment practices, you stop working for them. It's good old fashioned common sense.

Reply by Charles_Ca on 3/1/07 9:52pm
Msg #177828

Ok, Ok, Katrina, don't take it personally, this is really

interesting. I have never worked for SOX because I was fortunate to find this bunch here. I lurked for a few months before I decloaked and posted myself. One of the things I learned right off the bat: SOX is just ban news. They call on a regular basis and I tell them thanks but no thanks and you are right; they are usually very nice and when I tell that I won't work for them because of their credit record they don't get mad. But anyone who has read this forum even for a few days would know that SOX is to be avoided at all cost. Frankly I think that they make their money on the newly commissioned only. This topic comes up several times a week and it gets a little tedious, its along the line of "hey, guys I'm new, how about giving me your best clients so I can make what the NNA promised at your expense." Its not as egregious as "...what goes on the line that says State...." but it is not in the class of how do I handle a request for grant of ones child. Anyway welcome to Notary Rotary, a good bunch of people mostly, with a lot of experience who are kind enough to help out but some of us like our pound of flesh before you get fully accepted. Some leave the forum and never come back but they probably just get out of the notary business because they can't handle the interpersonal relations and some become trolls.

Reply by Katrina Arnaud on 3/1/07 9:26pm
Msg #177823

Better Business Rating for SOX attached

The Better Business Bureau rates SOX as follows:

F We strongly question the company’s reliability for reasons such as that they have failed to respond to complaints, their advertising is grossly misleading, they are not in compliance with the law’s licensing or registration requirements, their complaints contain especially serious allegations, or the company’s industry is known for its fraudulent business practices.

Reply by Kimmery Walker on 3/1/07 11:00pm
Msg #177846

Cindi,
They have an F rating with the BBB. I would not chance it. I don't know how they are still in business.

Reply by Gary_CA on 3/2/07 10:42am
Msg #177886

I've got 2 sox, they stink. n/m

Reply by Glenn Strickler on 3/2/07 10:59am
Msg #177887

Who is SOX????? (lol) n/m

Reply by carramia/PA on 3/2/07 1:16pm
Msg #177915

Many notaries have horror stories that they can relate to you about this company. Do yourself a favor and check them out on the BBB. You will see the large number of complaints and there rating. Our company had its problems with SOX, we filed our complaint with the BBB, had good documentation, and were finally able to get our money. Of course it only took 5 months. We feel we are one of the lucky ones.
This company is a disgrace to Signing Companies and they use, abuse and take advantage of notaries every chance they get.
This is truly one of the few companies that you will find mentioned on almost every forum that notaries are part of.
As they said in the Monty Python Movie - Quest for the Holy Grail - Run away, run Away.