Posted by firegirl on 9/15/07 10:50am
Msg #211266

Past due payments

I was wondering what kind of dollar amounts everyone has in past due accounts. I have $1000 in receivables that are over 90 days that I will probably be unable to collect. This represents about 40% of my total receivables. Just curious, TIA.

Reply by Lee/AR on 9/15/07 11:10am
Msg #211268

Ouch! Have a few just past the 45 day mark. Nothing over 60 days. However, I have a 2 day old EFS that I'm wondering about.

Reply by janie/vt on 9/15/07 11:19am
Msg #211269

I have a one month from EFS and wondering also if I will see it.

Reply by Kevin/Ct on 9/15/07 11:22am
Msg #211270

Lee,

Better move fast before the assets are depleted. Been doing collections for 22 years. Even if you win the case , you can't get blood out of stone if the defendant has no assets.

Some defendants are very creative when they set up their business model. For example... setting up two corporations or LLC's. One holds title to the assets and leases them to the other corporation or LLC on a series of short term leases. That corporation of LLC incurs all the liability and has no assets except the short term leases. When the leases expire they have no assets.

Reply by Todd/OH on 9/15/07 12:14pm
Msg #211278

I have nothing in the 90-day category. Haven't had the volume to cause the problem.

Reply by Debra Hazelett on 9/15/07 12:36pm
Msg #211282

No 90 days A/R. Once an invoice hits 60 days I start sending statements EVERY 10 days (usually late at night). QuickBooks is great at emailing statements with some detail. My statements close to 90 days start mentioning when I will turn over to collections. Never hit that date without a promise to pay and check close behind. But I will turn over to collections on the 91st day!

Reply by Ilene C. Seidel on 9/15/07 4:06pm
Msg #211315

I've stayed away form signing companies so my uncollectables are low. However I'm finding out we need to watch the title comanies too. American Freedom Assurance owes a signing company I've worked for thousands. They paid me out of their own pocket.

Reply by LJ on 9/15/07 4:28pm
Msg #211321

I agree Ilene. I am sitting on 2 from the same Title Co. One is from June and 1 in July. I've faxed my invoice everyday this week to them. Nothing.

Only other one I have is from EFS. Wonder if I'll see that? Time will tell.

Reply by Happy_in_Fl on 9/16/07 4:05am
Msg #211380

Ditto here.

Dealing 99% with T/C and Atty's. now, and haven't had difficulties like before.

(The other one percent who I will accept tasks from are "Tested, Proven and Tried Signing Services", whom I have either previously worked with, or who on this Forum have always maintained a good standing and reputation.)












IMHO. it works for me to have "peace of mind" w/o the squabbles of payments.

Reply by Stephen DePenna on 10/11/07 10:10am
Msg #215941

i have done work for american freedom and efs. i have never had a problem with payment from american freedom. i am getting paid every two weeks from them and they are a very good company to deal with. efs is a whole other topic.

LJ, i think you might be dealing with a different company as american freedom is not doing work in IL that i am aware of

Reply by American Freedom Assurance - Alexander Goodman on 1/14/08 12:11pm
Msg #230496

I am the Vendor Manager for AFA Title, Inc, American Freedom Assurance. I am constantly logging into these types of websites to read the disgruntled or appreciative and professional responses to my company.

I am well aware of the complaints, not just my company, but hundreds of other title companies out there that are getting hits online about their billing cycles, agents not getting paid on time, etc.

If you are a Closer or an Abstractor, you should read my next statement:

I am here to work with anyone and everyone's concerns with AFA. I reply to emails, call back from voicemails, and spend the time and attention to resolve all problems. No matter if the financial problem is a small amount or a large amount. You can call me and email anytime, because I want to have servicing ran smoothly without getting bashed online, which prevents me from acquiring new vendors.

What I will not assist in is the catering to vendors, whom of which are getting paid by my company and not the other way around, and following their rules and stubborn intricacies because they "are the only closer/abstractor in the area" , they "have been doing [closings/title searching] for 30 some years and this is how they do it", other title companies this, other companies that" etc., etc.

I am spending the time to afford them business, not the other way around. I am professional in all of my communication and negotiations. I expect the same in return, without demands or threats. Pay is always the issue. Send your invoices like a responsible adult at the dates I specify, make me copies and send them to me as well, do so in a professional manner. If vendors cannot take the time to ensure that they are putting forth the effort to make sure they are following the payment guidelines, then I cannot help them further as well.

Like I have written above: Call me, Email me, I will get you paid and on time, as long as you follow our directions and not vice-versa. If a vendor cannot follow this, then wait for another title company to call you up for business, since the market is so great right now, and you are not in need of income, etc.

This is a reply for all of those vendors that have nothing better to do than be rude and unprofessional, and have the time to criticize and not make efforts to do business efficiently when there is a professional working 10-12 hours a day working with the 99% of other vendors whom aren't complaining as these ones are. That should tell some of you hwom are reading this that AFA, Inc, American Freedom Assurance is not such a horrible company if the other 1,000 vendors in 25 states that I am doing business aren't on these sites wasting time bashing when they could be title searching, closing loans, or calling me up to find out how to invoice correctly.

I appreciate all new Vendors for AFA taking the time to read this, because it shows 2 things: I care and I am honest....and a third one is that I cannot go online and bash eveyr abstractor and closer that messes up loans and title search reports because I am too busy working on changing the climate of the market by doing my part as a responsible professional in the Title Business.

Good Day to you all.

Alexander S. Goodman
American Freedom Assurance, Inc.

610-640-2060
610-640-2041 fax
[e-mail address]

Reply by Burton Georgia Loan Closers.com on 1/14/08 12:24pm
Msg #230504

Mr. Goodman's Comments Make Sense...

Mr. Goodman, I appreciate the comments you made in your post. YOu appear to be a gracious and caring individual. I agree with a great many of your comments and they should serve to awaken others that how we communicate on this board is important to ourselves. This board has a history of aggressively harsh communications and I and others are striving to modify our behaviors as examples of good behavior for others.

In an earlier post that I made today, I gave a website with information regarding the "7 Habits of Highly Effective People." Among many quotes in that article is the following:

"Self-Centeredness: Perhaps the most common centre today is the self. The most obvious form is selfishness, which violates the values of most people. But if we look closely at many of the popular approaches to growth and self-fulfillment, we often find self-centering at their core. There is little security, guidance, wisdom or power in the limited centre of self. Like the Dead Sea in Palestine, it accepts but never gives. It becomes stagnant. On the other hand, paying attention to the development of self in the greater perspective of improving one's ability to serve, to produce, to contribute in meaningful ways, gives context for dramatic increase in the four life-support factors. It is often much easier to recognize the centre in someone else's life than to see it in your own."

EVERYONE on this board would benefit by defining their centers. Is yours a principle-centered life, an enemy-centered life, or do you have some other center. Knowing your center can provide you with useful insights and guide our behaviors productively rather than destructively.

Mr. Goodman, again, I thank you for your contributions by your post.

Burton F.
GeorgiaLoanClosers.com
Serving All Of Georgia, All The Time!

Reply by Stephen DePenna on 1/24/08 12:51pm
Msg #232179

Seeing the negative and unprofessional listings on here have disturbed me so the other day when I was at AFA picking up a package, I asked questions about some of the entries.

From what I can tell, it seems that some people are listing info on the forum but I think they are talking about another company with either the same name or a similar name because I discover that they have not done any closings in the following states yet...VA, OH, VT, MN, WI, IN, FL, AR. They are currently recruiting in almost every state for vendors as they are going into new states. To those that they have been calling all I can say is I have never had a problem with payment. I personally think you should give them a try at least, especially with the way the industry is currently. They are a very big part of my total income.

Someone also mentioned that they owed money to a signing agency that they worked for. I do not think this is the same company as well because they have never used signing agencies because the service level is not the same as an independent signer.

If you think you are owed money for services I would suggest you send them and invoice in an effort to get paid. Writing comments like "they suck" is not helping you to get paid and as well is not true