Posted by hodgy on 1/22/13 9:42am
Msg #451507

FLEX Closing is going out of business n/m

Reply by leeinla on 1/22/13 12:56pm
Msg #451521

Re: Maybe a good thing. n/m

Reply by hodgy on 1/22/13 1:28pm
Msg #451526

Re: Maybe a good thing.

I agree - they are lowballers but their biggest client NREIS apparently closed without paying their invoice to Flex.

Reply by JanelWI on 1/22/13 1:35pm
Msg #451527

Re: FLEX Closing is going out of business due to NREIS

There is more to this story than just Flex is out of business. Flex claims they are out of business due to the fact that their biggest customer, National Real Estate Information Services in Pittsburgh, PA has just closed its doors as well. The letter from Flex's law firm, Pagter and Miller, states that NREIS closed with an unpaid invoice to Flex and that the closure of NREIS was a shock to Flex as they had been timely in their payments up to the closure.

Flex currently has no ability to obtain sufficient cash via loans or outside investments to cover the significant receivable. Flex not only can't pay their outstanding debts, they can no longer maintain business operations. At this point, Flex has opted for a self liquidation over Chapter 7 to aggressively sell assets to try and cover the outstanding receivables. Distribution to creditors, (meaning those of us that still have not been paid) will be made on a pro rata basis. All funds will be monitored by Pagter and Miller, and maintained in a segregated trust account.

At this point, I find it hard to believe that Flex had no idea about NREIS, but that is just my opinion. It is another perfect example of why diversity is key and how we don't just blindly take money from our customers without first knowing a bit about their business practices to ensure a safe and equitable business partnership. The scoop about NREIS has been well known for quite some time. I don't know how in the world Flex or its owners thought they were immune to the same professional disregard and gross irresponsibility NREIS bestowed upon many of us who have had to fight to get paid.

Reply by bagger on 1/22/13 2:03pm
Msg #451531

AHA, so two items of good news! n/m

Reply by docs1954CA on 1/22/13 2:30pm
Msg #451540

Birds of a feather, 1 deadbeat working for another,

gotta love this business....

Reply by twil4_WI on 1/22/13 5:47pm
Msg #451566

Re: I warned them

I gave back several closings to them when I realized they were NREIS, and said shame on them for doing business with a company who was obviously trying to go through a back door to disguise their lack of ability to get any notaries to work for them with their hideous record of payment.

Reply by Stoli on 1/22/13 3:05pm
Msg #451542

JanelWI - What/who is your source of information? n/m

Reply by JanelWI on 1/22/13 3:43pm
Msg #451547

Re: JanelWI - What/who is your source of information?

Stoli:

From the above post:

"The letter from Flex's law firm, Pagter and Miller, states that NREIS closed with an unpaid invoice to Flex and that the closure of NREIS was a shock to Flex as they had been timely in their payments up to the closure".

I got this letter in the mail today with a claim form to fill out if I am owed money. If you are owed money, I am sure you will get a letter as well.

Reply by April Kay on 1/23/13 12:17pm
Msg #451711

Re: JanelWI - What/who is your source of information?

You may get a letter and you can fill out the form and send it back, but don't hold your breath on getting paid. None of the notaries owed will see a penny from either of them.

Reply by Clem/CA on 1/22/13 3:36pm
Msg #451545

One Down 100 to go! n/m

Reply by Marian_in_CA on 1/22/13 4:20pm
Msg #451553

Probably means page separator is going down too n/m

Reply by jojo_MN on 1/22/13 5:22pm
Msg #451563

Re: Probably means page separator is going down too

So, I wonder how many bites they had for that one? Between them bugging me to get their page separator and background checks, I had emails at least two or three per week.

Reply by Marian_in_CA on 1/22/13 5:57pm
Msg #451568

Re: Probably means page separator is going down too

Several people here bought the software, that's for sure. I always objected to it, not for what it was or what it did per se...but because of who it was from and the fact they they hid it from notaries and tried to force notaries to buy it.

Reply by jojo_MN on 1/22/13 6:24pm
Msg #451571

Re: Probably means page separator is going down too

I told them I didn't need the separator because my printer already choose the correct size. I just assumed that all printers with two trays could be set to do it automatically.

Reply by jojo_MN on 1/22/13 5:15pm
Msg #451562

Amazing--after hounding for BGCs up until a couple weeks ago n/m

Reply by jojo_MN on 1/22/13 6:26pm
Msg #451572

So are NREIS's other clients going to go out of business and

quit paying for the same reason? I can't remember which ones, but after I saw the TC was NREIS, I started refusing any business for SS that worked for them on the principle that NREIS already owed me too much money and couldn't see helping them get more closings by using SS.

Reply by JanelWI on 1/23/13 7:38am
Msg #451636

I started using signing service information as leverage

after I found out from a couple signing services that NREIS had no problem paying them I got really angry and decided to dust off some old invoices from them and start pushing for payment. I used the information that signing services told me about how easy it was to get paid and how interesting this information would be to the attorney general of the state and every notary that has yet to be paid from NREIS. I also got the name of everyone I spoke with at NREIS and told them I was going to personally name each and every one in my complaint. I got paid in two weeks and they also sent a satisfaction letter that I had no more payment issues with them. I am glad I got paid before they went under. In that case, I found signing services very useful. I will work for signing services, but only the ones I know are reliable and pay promptly. There are some very good signing services out there. I take it on a case by case basis. It is just like signing agents; there are good and bad ones there too. Frankly, there is good and bad with everything!