Posted by AAA LEGAL SERVICES - JOHN on 4/25/08 2:01pm
Msg #245027

Fee in advance

We no longer give Signing Companies credit. They pay in advance. In reality what they are doing is operating off of your money(time=money) They are waiting to get paid by the lender. While you sit. Any signing company that cannot pay you up front is insolvent----period. I have a question. Would you loan me $50? I'll pay you back in 45 days.

Reply by Tricia on 4/25/08 2:45pm
Msg #245033

Are there companies out there that are willing to pay you in advance? If so, who are they?
Most (other) businesses do not operate on a pay in advance method. The common method is terms of Net 30 or less. It is not unresaonable for the signing company to get paid from escrow before paying you. It becomes an issue when they get the money and don't pay you, or pay you late. I know of some companies who pay every week. I only wish there were more of them.

Reply by DD/OR on 4/25/08 6:49pm
Msg #245069

I agree with you, John. Or have the borrower sign a statement that they agree to pay your fee if you're not paid by the company. Several companys do this already. Todd at Closing Quest told me he would pay me what they owe me in 6 mo. That's when I lost it. After that Todd said he wasn't going to pay me at all. So, I'll be filing in small claims court. I've had several companys pay me up front. I think if most of the notaries stuck together and demanded up front payment, we could start a trend. The SS would have to do it or go under. If they don't agree to it, then that would prove to me that they're up to no good. Good evening. DD

Reply by Sylvia_FL on 4/25/08 8:41pm
Msg #245095

"The SS would have to do it or go under. If they don't agree to it, then that would prove to me that they're up to no good"

Really? As a SS I would never pay upfront for a signing! What guarantee does a SS have that the notary will fulfill their obligation? How does the SS know that the notary won't just pocket the money and run?

Even title companies won't pay the SS upfront.

Actually, I won't say I would never pay upfront, I did one time. The notary had problems printing out the docs and as the signing was close to me she had to drive by on the way to the signing I printed out the docs for her and when she picked them up I gave her the cheque so I wouldn't need to mail it to her. That is the only time I have paid up front.

And not paying up front does not mean I will "go under". All my signing agents know my payment policies and are happy with them.

Reply by DD/OR on 4/25/08 9:52pm
Msg #245099

Well, I guess it's a matter of opinion. It's according to what side of the fence you're on. Someone has to take a risk and I would rather it not be me. The choice is either trust the SS or trust the notary. For too long, notaries have been trusting SS to pay them. We trusted them and too often, as you know, were're not paid. I say its time we switched roles.

Reply by MikeC/NY on 4/25/08 10:28pm
Msg #245104

How's that working out for you?

How many companies have been willing to pay you in advance?

Reply by sue_pa on 4/25/08 11:08pm
Msg #245110

Re: How's that working out for you?

that's what I'm thinking. I'd bet John has little or no work. In the world we work in, there is seldom time to get a check to a person in advance, even if the company would agree to it.

DD, how many times have you actually been stiffed? You make this sound like a universal problem and it's not.

Reply by DD/OR on 4/25/08 11:25pm
Msg #245113

Re: How's that working out for you?

It IS a universal problem. Where have you been? Do you have your head in a hole or what? There are notaries nationwide who are being stiffed. I've never been stiffed because I play hardball. If the companys had their way, 1/2 of them wouldn't pay up. You are wrong if you think John or myself don't have work. I have all the work I can handle because I have GOOD companys that I have a good relationship with. Unfortunately, not enough pay beforehand. There are ways to receive a check before the signing. They can fax a check. I used to send a check to a company by way of fax when I bought something. DD

Reply by Pat/CA on 4/26/08 12:09am
Msg #245119

How do you fax a check? I'm totally lost on this one?

It's a fascimile. As far as I know my it would be the reverse of "laughing all the way to the bank!" My bank would be laughing at me. LOL

Reply by Pat/CA on 4/26/08 1:05am
Msg #245129

I'm sure behind times in the check faxing arena!

I just Googled "faxing a check" and found out it IS done. Really, I'm dumb-founded because I've been self-employed for nearly 30 years and consider myself pretty business savy. Nothing like a humbling dose of reality!

Reply by DD/OR on 4/26/08 11:19am
Msg #245168

Re: I'm sure behind times in the check faxing arena!

You're welcome.

Reply by DD/OR on 4/26/08 11:18am
Msg #245167

Re: How do you fax a check? I'm totally lost on this one?

You're lost because you never experienced it. You only learn by experience. Haven't you heard, experience is the best teacher?

Reply by MichiganAl on 4/26/08 12:57am
Msg #245125

They can fax a check? n/m

Reply by DD/OR on 4/26/08 11:20am
Msg #245169

Re: They can fax a check?

Yes, a check can be faxed. Talk to your bank.

Reply by MikeC/NY on 4/26/08 11:42pm
Msg #245261

Re: They can fax a check?

Yeah, but it's not as simple as that - they fax you a check, you use that as authorization to create a draft on their account, and then you deposit the draft. It's treated by the bank just like a check.

You need software to create the draft (since it looks like a check and has to have those funky looking MICR numbers on the bottom), and you may have to use special check stock to print it. You hold on to the faxed check as proof that you were authorized to do this.

Reply by sue_pa on 4/26/08 7:20am
Msg #245149

Re: How's that working out for you?

My point was/is that if you consider the amount of closings done by 'signing agents' every day, the actual nonpayments are miniscule. If it was the problem you appear to make it (at least my interpretation from your posts) no one would be in this business. Bad debt is part of every business. Slow payment is one thing. Nonpayment is another.

Reply by CaliNotary on 4/26/08 10:27am
Msg #245158

Sue. I think me and you share a brain

No, not because we're both halfwits either. We definitely have the same thought process when it comes to this business.

Reply by BrendaTx on 4/26/08 10:59am
Msg #245163

The worry over non-payment is like

a book re-seller (which I used to be) seeing a stack of decent books in mint condition for $.50 each and spending half an hour agonizing over whether or not to purchase it for reselling. (Don't want to lose that $.50 on any book which isn't "golden".)

You take your chances, get the books and if it turns out to be a dud you take one or some to Goodwill you use thrift store prices as a donation on your taxes. Worst case...each $.50 book becomes a $5.00 donation, and it is likely that you'll make a $100 on that pile over any loss you might have on books which aren't popular.

Reply by AAA LEGAL SERVICES - JOHN on 4/26/08 10:53am
Msg #245160

Re: How's that working out for you?

I have plenty of work at no less than $100 per signing. If you are not wise enough to stop giving these companies credit, then at least try this: When a company asks you to pay on credit, get 6 credit references from Notaries that work with them. We have quite a fun time watching them run away like scalded cats. 9 out of 10 will not provide a credit application. The reason is obious. Most of these companies are insolvent-----period. Also, strickley avoid anyone who operates out of a post office box or a PMB.

Reply by CaliNotary on 4/26/08 11:00am
Msg #245164

You are full of crap

"I have plenty of work at no less than $100 per signing."

No you don't. That's simply not how this business operates. Your claims are as believable as the emails that claim to make my penis 3 inches bigger in just a week.

Reply by DD/OR on 4/26/08 11:25am
Msg #245171

Re: You are full of crap

Calinotary, you are the one that's full of crap. I suspect you may be Todd at CQ who is also representing himself as an attorney. Or you're some other Deadbeat SS. DD

Reply by MikeC/NY on 4/26/08 12:10pm
Msg #245187

Re: How's that working out for you?

The question wasn't how much work you have, it was how many clients pay you in advance.

"9 out of 10 will not provide a credit application. The reason is obious. Most of these companies are insolvent"

I think it's more likely that they don't have time to play games with you - they're trying to get an assignment filled. It's much easier to hang up and call the next guy on the list than to provide you with references and wait for you to check them out.

If you're only willing to deal with the 1 out of 10 that will humor you, that means you're walking away from 90% of your potential clients. That's a unique way to grow a business...

Reply by sue_pa on 4/26/08 1:30pm
Msg #245202

help us out here

How many closings did you complete in April? How many of those paid you in advance? If you give us accurate, semi-verifiable facts, perhaps we'll all utilize your methods.

Reply by DD/OR on 4/25/08 11:34pm
Msg #245114

Re: How's that working out for you?

Hi Mike, I had several companys pay me in advance. Although most don't. There are good companys that I work with that I trust. So normally, I have no problem. That is until now with Closing Quest. But I'll get my money, that's for sure. I used to do Judgement collections so I know how to collect on small claims cases. I'm not suggesting that you or anyone else ask for payment in advance. Its just something to think about. DD

Reply by Linda Juenger on 4/26/08 1:30am
Msg #245137

If I called a repairman to my home and he asked me

to send him a check before he comes, I would: First Laugh, Second, find someone else. There is no way I am paying in advance for a service he may or may not do.
Get real.

DD/OR I'm sorry but I don't agree with your business tactics. You sound very hard, cold and hard to deal with. You want people to pay you in advance, you want to add a document to the pkg stating the borrowers will pay you if whoever hired you doesn't. Sure sounds like you area gimmie person and not a giver. You are an "I" "ME" person instead of "WE" "US".

Reply by JanetK_CA on 4/26/08 3:45am
Msg #245144

Re: If I called a repairman to my home and he asked me

Maybe "XYZ" hasn't made it to OR yet with their training classes for the masses...

Reply by Loretta on 4/26/08 8:38am
Msg #245155

Re: If I called a repairman to my home and he asked me

I have been in this business for over 12 years. I work for attorneys and title companies and very, very rarely, signing companies. No way in hell they are going to pay me in advance. Attorneys and title companies pay me when the loan funds (3-5 days). I'm not living in la la land. The only ones that demand payment up-front are want a letter signed from the borrowers are people that have not been in the business long enough to know how things work. No offense.

Reply by DD/OR on 4/26/08 11:32am
Msg #245175

Re: If I called a repairman to my home and he asked me

Linda, obviously you have no logic, or just maybe you're a deadbeat SS. You sound like it, since you are defending them. You are comparing oranges with apples. If a repairman comes to your home, he will collect in person. If you don't pay him, he will put a lien on your home. (By the way, a notary can do that to if they win in SC court). The repairman scenario is different from a notary position. You are the one that is cold by defending criminal SS's.

Reply by AAA LEGAL SERVICES - JOHN on 4/26/08 11:11am
Msg #245165

Re: How's that working out for you?

Folks, If at the end of 2008 the payment problem has not gotten worse for you then you will have my public appology

Reply by DD/OR on 4/26/08 11:35am
Msg #245177

Re: How's that working out for you?

John, I agree with you 100%. Non-payment is a very serious problem and it is at epidemic proportions. Don't pay attention to some of the posters who defend the signing services. They are in all probability, deadbeat signing services themselves. DD

Reply by A-1 Signing Agents, LLC on 4/26/08 12:40pm
Msg #245194

To sum it up

DD IS ALWAYS RIGHT!!!!!!!! All the rest of you are wrong. Don't offer opinion's because you are wrong or a shady SS. Go ahead and blast away at me too. I have never once had any problem collecting after the fact. And I'm not an SS. If you check out the companies you work for in advance as most of us do, there shouldn't be any problems. JMHO

Reply by MistarellaFL on 4/26/08 9:03pm
Msg #245243

Re: To sum it up

ROFLMAO
I noticed that too...if you don't agree you must be a SS!
I think Dixie must go off her lithuim every few months, lol.
Take the pill, girl!

Reply by BrendaTx on 4/26/08 10:25pm
Msg #245250

A-1 that made me laugh. n/m

Reply by Loretta on 4/26/08 10:51pm
Msg #245257

Come on Brenda....

I would personally like your opinion about this thread. I'm not a signing service nor am I a bitter notary looking to be paid. I keep a tight rope on who I extend credit to and have been blessed to not be shafted too hard.

Reply by BrendaTx on 4/27/08 7:29am
Msg #245266

Re: Come on Brenda....

I think it is funny. DD acts like a troll whether she is or not. AAA is dreaming. ( IMHO. )

Notaries should get paid as soon as their job is completed whether or not the loan funds. No later than 30 days. Demanding being paid ahead is kind of crazy if a company has no poor payment history.

Your tight rope is the key, Loretta. Find good companies and treat them well.


(I'm thrilled to be asked my opinion! That almost never happens. LOL.)