Posted by KTN on 4/10/10 2:35pm
Msg #331151

Anyone know what's happening with DocPros?

I do a lot of work for DocPros, and like working with them. Their contract says they pay at 30 days, but I usually get payment in about 40 days. My latest payment is now later, 45 days and counting. I looked them up, and there are only negative/slow pay comments now. Are they in trouble? Any info? I hope not, but I need to get paid.

And yeah, I don't like the $90 pay. But I make up for it in volume, and they're easy to work with.

Reply by Lita on 4/10/10 3:16pm
Msg #331156

I also get a lot of work from them, the one in Murrieta, CA and yes up until the beginning of this yr I would be paid at 31 approx days, they would mail it on the 30th day. But then it was 35 the next few times. I also started to wonder, but this last one came again mailed on the 30th day. Because they started to be a bit late I now send a follow up either on the 30th day asking if pmt went out or a few days prior asking if it will go out on x date, just as a reminder. They are on my radiar but so far nothing to write about.

Reply by Moneyman/TX on 4/10/10 3:24pm
Msg #331157

I too like working for DocPros. They meet my fee, however my last check from them was over 55 days.

I will work for them again but they will have to sign an agreement with my payment terms (which include late charges) or I will have to charge them more upfront. I do work with companies that pay Net 60, I just have a different fee amount for that verses a Net 15 or Net 30 paying company.

And yes, I do charge late charges and have collected them in the past. It's just business. If a SS company (any) pays Net 30 - then pay Net 30. If they pay Net 45 or Net 60 - just be honest and say it so there are no misunderstandings. Again, it's just business and respect issues.

Reply by MikeC/NY on 4/10/10 6:35pm
Msg #331184

"And yeah, I don't like the $90 pay. But I make up for it in volume, and they're easy to work with."

How do you make up for it in volume? You have fixed costs for each signing - printing, travel, etc. Those don't go down if they give you more work.

The whole concept of "volume" only works if it enables you to lower your costs; in this business, we have mostly fixed costs and you can't lower fixed costs. If you're squeezing your profit margin (or even losing money) by accepting one job at $90, you're not making more money when you accept additional jobs at the same fee.

Reply by Moneyman/TX on 4/10/10 11:00pm
Msg #331198

Volume discount?

Volume discounts, at least in any other business, is given ONLY when volume business has been reached. I'm with Mike, I'll never understand "business owners" that offer volume discounts on signings from the very first signing of the month. Fixed costs are just that fixed.

Reply by Lee/AR on 4/11/10 7:22am
Msg #331210

...nor companies who

try to get you to reduce your fee because they claim they can give you volume... As both above wise posters said: fixed costs are fixed costs. About the only 'volume' I could understand would be if I went to one central location one day and everyone came to me. Travel fee could then be discounted. Like that will happen~~

Reply by NotaryGirl71 on 4/21/10 7:59pm
Msg #332825

I use to do a lot of signings for them...they are a good company but ALWAYS need a little reminder shove to get paid...was never that big of a deal cause I always knew they would pay me.

Reply by Cari on 4/11/10 8:35am
Msg #331211

its NOT made up in volume...the common misnomer...!

Not sure what's going on with that particular SS lately, they don't call as much as I personally no longer accept those low fees....but seriously, you can not believe that $90 bucks keeps your business afloat, even in volume? What it does do, is keep you running around town, wasting your time for $90 bucks a pop! You may think you're getting a good deal, but do the math!

How could you possibly be making a profit at that low ball rate?

Reply by Calnotary on 4/11/10 1:48pm
Msg #331228

Re: its NOT made up in volume...the common misnomer...!

And how about this other SS that it was offering a ridiculous fee of 82.00 and now are "flexing" their fee to 80.00 plus faxbacks? Those who have received calls from them know what I am talking about.

Reply by KTN on 4/11/10 7:52pm
Msg #331278

Re: its NOT made up in volume...the common misnomer...!

All I meant by 'volume' is that in my particular case, if I turn them down I make ZERO. I have not lost money because I've accepted these jobs. And my costs aren't that high. It's my time that I'm paid for. So if I make $90 for my time as opposed to $0, I come out ahead each time. About 30% of my business has come from DocPros. If I lose 30% of my business, I'm not happy. You do the math.