Posted by SShoreDude on 7/24/09 2:25pm
Msg #297297

Am I naive???

I have had two situations of late where a company was very late paying (3 mo) and when I contacted them they said they had sent a check and they guessed I just didn't get it, and they said they would stop payment and issue new checks.

I guess a lot depends on the credibility of the company, and I am not going to mention either company here, as they have since paid,

but am I naive to believe them, or do you think I was being fed a line of BS?

Brian

Reply by Ilene C. Seidel on 7/24/09 2:26pm
Msg #297299

Probably the best best is to list them on here to see if anyone else has the same problem.

Reply by taxpro on 7/24/09 2:29pm
Msg #297302

Of course it is possible that a check was lost in the mail, and I may or may not believe them depending on their past history and reputation. If it happened once, I'd assume they had told me the truth and let it go. If it happened again, with the same company, well I'm sure you've heard the old saying, "Fool me once..."

Reply by Linda_H/FL on 7/24/09 2:30pm
Msg #297303

"I guess a lot depends on the credibility of the company"

I think this answers your own question - not naive to believe them if they have been good to you or everyone else previously...

Check SC and see if there's any similar feedback about them there...I do know there's been some recent discussion about people not being paid and that being one of the excuses...you may find info in SC....if it's happened before, then you may want to rethink your definition of "credibility"..

MHO

Reply by Stoli on 7/24/09 2:32pm
Msg #297304

Naive??? Easter Bunny, Santa Claus and Tooth Fairy.... n/m

Reply by SharonMN on 7/24/09 2:34pm
Msg #297305

Make sure they have your correct address. I moved over 2 years ago and some companies STILL have my old address listed no matter how many times I ask them to change it.

Reply by Jess/CT on 7/24/09 2:42pm
Msg #297307

I had 2 instances from the same company that sent 2 different checks for me to 2 different borrowers.

I would not have believed it, except when they forwarded the checks to me they each had the borrowers address on them. They have since updated my address. Thank goodness!

Reply by trnsa_IL on 7/24/09 3:02pm
Msg #297309

I had a company tell me that they had already sent the check weeks ago and had a check # and everything only I never received it. They stopped payment and reissued the check. I received the original check almost 2 weeks after I received the replacement check. You never know...

Tonya

Reply by Maureen_nh on 7/24/09 10:45pm
Msg #297356

The fact of the matter is that some notaries do not keep track of their accounts recievable and hon I have to plead guilty on occasion.
Now here comes the fun part.
You are a less than honest signing service and you know that these dodos are out there. You keep the money on account, if you ask they send it right out. If you don't, after a while it's all theirs cause you have forgotten who owes you what.
When you get payment really soon after you make the call, after a reasonable amount of time you
know who they are--beware!

Reply by jba/fl on 7/25/09 12:08am
Msg #297363

Interesting Maureen - I had one just like that last week.

Said they mailed, gave ch. #'s and date mailed, arrived 2 days later. Must have postage machine and just left sitting around pushing the envelope closer to the mailbox every day until I called asking, then poof, magically, it was on its way.

{Wistfully, she says: I wish I could do that. }

Reply by ReneeK_MI on 7/25/09 5:15am
Msg #297375

Maureen - I've long suspected that's at the root of a lot of non-pymt issues (lack of invoicing, lack of follow-through). I'd bet it gives the SS industry a pretty reliable float margin and a decent percentage of profit margin, too! =O

Reply by Les_CO on 7/27/09 2:01pm
Msg #297548

Just My Opinion…but I think it’s the reverse. Yes, in some cases Title will pay (cut a check to) the SS the day the loan funds. However if there is any appreciable volume involved. (Say 100 signings a month) Title really does not want to write 100 checks, and put them in 100 envelopes, and mail them off. They would far rather send the SS one check a month (one check, one envelope, one stamp). Plus THEY the Title Company get to use the ‘float’. Also usually the SS invoices Title for the work done, sometimes on an individual basis, but more commonly (again depending on volume) on a weekly, or monthly basis. If the SS pays their notaries on a weekly basis (say the week after the loan funds) then they are effectively fronting the money due from Title. The best way is for the SS just to keep ALL of the money, just change their name every couple of months. At any rate it’s usually Title that has the “extra” money in their hands. Extra being money they collect when the loan funds that they pay out later. And NO I do not work for a Title Company…JMO.