Posted by NJLinda on 1/10/13 12:07am
Msg #449724

Payments

Is anyone else finding it longer than normal to receive payments from Signing Services this month? It seems even the good ones are slow this month. Just curious if others are having the same issue.

Reply by Marian_in_CA on 1/10/13 12:18am
Msg #449726

I received a small flood of payments right at the end of the year. I assume that was to close out books, etc. Now? Not so sure...maybe they're a bit overwhelemd, or even waiting because they may also be waiting on checks from all of the closings at the end of the month.

Frankly, I don't like it when companies do that... they make their payment for services you provide them contingent upon their receipt of payment from somebody else. It shouldn't matter. If they are going to hire you, they better have have a buffer of funds available to cover that time float. But, that's just me. That kind of practice just screams, "We don't have the cash flow to keep this place running."

I mean, think about it... do the power and gas companies sit around and wait for us to get paid before we have to pay them? No they don't. We use the services, we get the bill. We don't sit around or call them and say, "Well, great, thanks for that but you're just going to have to wait until that signing service pays me to cover the cost of the power I used to print that paper. Sorry."

Reply by dutchcloser on 1/10/13 6:36am
Msg #449748

Yes I'm noticing the same things. Still waiting for several payments for Dec that haven't made it to me yet. Very unusual for these particular companies.

Reply by CentralNY on 1/10/13 7:07am
Msg #449750

one check was postmarked 12/26/12 and it arrived 1/9/13. it said 1st class mail on it if that means anything anymore.

Reply by jba/fl on 1/10/13 9:07am
Msg #449762

Sure it does. It means they ran it through for first class postage in their postage machine with their postage machine date, then sat on it for a few days before mailing. They accomplished draining their bank account for 2012 and their (accrual) method of accounting.

During the last week or so of any given year, many companies will do this routinely. They also buy everything they need for the coming year and make huge down payments on future work done for them, etc. to close out the year if there is money left after paying all bonuses. What comes in goes out....nice balance(ing).

Reply by ME/NJ on 1/10/13 8:19am
Msg #449754

All payments this month are behind. Even Title Source sent a check dated 12/28 and I did not get it till yesterday. Had to dip into savings this month to cover bills, Sandy killed me and current loans still need a second appraisal before they can come to table.

Reply by ToniK on 1/10/13 9:20am
Msg #449767

Yup been waitng by the mailbox for my check but nothing so far. Only a trickle like one or two. Im hoping this week they come in cuz I just paid my mortgage. Im holding off on marketing and new business expenses until my money starts rolling in.

Check from Titlesource? I get Direct deposit for that. I wish more companies offered DD.

Reply by SheilaSJCA on 1/10/13 10:43am
Msg #449771

It's like this most every year at this time n/m

Reply by emilysigns on 1/10/13 1:03pm
Msg #449790

IME...

Can't speak for anyone with any certainty, but when I supervised Vendor Payments, every single year around this time vendors of every type would suddenly come out of the clear blue with an entire year's worth of payment issues, which 9 times out of 10 was because they were not managing their books effectively.

This certainly bogs down the system for every step of the payment process. This is my guess for the annual delays.