Posted by 101livescan on 3/22/13 9:31am
Msg #462523

Aged receivables sign of the times

When I first got into this business in 2001, pretty much I was paid on time, within 30 days paid as agreed. As I began working for more title and escrow companies directly I found a stack of check in my mailbox almost daily, and of course my choice of work was plain to see. Then I began taking work from signing services and most of them paid within 30 days. Those who took longer eventually faded from space and are not longer around. You've probably all realized that over time, there are still companies around that pay as long as 120-180 days out, and that is clearly just mismanagement of monies, perhaps the overhead is simply to high, they are paying themselves first and there very simply is not enough money to go around.

I have the perfect anecdote for getting paid sooner, and if you're interested to know what to action to take, please PM me, there is no cost involved, just good will, and I will help you if I can. It might take some time, but if my anecdote applies to your situation, there is no reason why you shouldn't receive payment within 72 hours or less.

Have a blessed day! Onward and forward.

Reply by Belinda/CA on 3/22/13 10:19am
Msg #462530

Are you just trying to become popular? ;o) n/m

Reply by 101livescan on 3/22/13 10:39am
Msg #462532

Re: Are you just trying to become popular? ;o)

Uh, actually, not really, I mean I am already very much loved, adored and well, shall I say, sought after, my many, well, except of course there is one out there today who hates the ground I walk on (I didn't do wrong, that person did), but oh well, what the heck, that's how it goes. When you build your foundation on shaky ground, lies, lies and more lies, it's like a house built on sand....it slips and slides and disappears. Poof.

God sees, hears, watches everything we all do. When you lead a purposeful, well intended life and don't hurt anyone along the way, He sees that too. I don't know how people don't live without hope, faith and love for a Supreme Power. Money is not power. Faith is power, and motivation to do the right thing.

As long as my NR family here loves me, I'm fine. Well, if I become unpopular on this board, I know this audience will be sure to tell me, and I'll know it's time to depart.

Seriously, if anyone on this board is owed money for more than 60 days, there is a serious problem. There is a serious issue of credibility and integrity. We need to fix it. There's hope and a method. No matter where the source is. We are not in the business of charity and making other people rich on our hard work, time, materials and effort.

Blessings, peace and grace to all.

Reply by Natacha Joseph on 3/23/13 8:01am
Msg #462644

Livescan, thank you -blessings, peace & grace to you as well n/m

Reply by Lee/AR on 3/22/13 10:42am
Msg #462533

Think she's just trying to level the field and

contribute to the education of newbs. Hopefully, that's why they're here. This is helpful information.
Both for newbies and for us old-timers who hate seeing what this field has become and want to keep it from sinking still lower.

Reply by 101livescan on 3/22/13 10:53am
Msg #462535

Re: Think she's just trying to level the field and

Thank you, Lee. We must watch out for each other, what happens to other notaries could happen to me, or may have happened along the way. I have the blessing of being located regionally in an area where the biz is strong, but there are areas of the country not as strong, and there are predators out there taking huge advantage of less knowledgeable, inexperienced people coming on line who are just happy the phone is ringing, saying yes before they've done their due diligence.

It's like letting Jack the Ripper in for tea, completely unaware of the impending doom. I'm a great believer in background checking everyone. I won't even allow a valet to park my car. I take my car to car washes where I never leave my car unless it's at the dealership and they detail it. My trust level for just any one is nonexistent. We must be careful who we allow inside our temple. ID fraud is huge, and we're all just sitting ducks, sharing our SSNs like a bunch of idiots, setting ourselves up big time.

Knowledge is power. Just sharing what little I have.

Reply by roseIN on 3/22/13 11:27am
Msg #462540

Re: Think she's just trying to level the field and

this is not the 700 club

Reply by HisHughness on 3/22/13 12:02pm
Msg #462543

Not getting enough fiber nowadays, Rose? n/m

Reply by roseIN on 3/22/13 2:19pm
Msg #462566

Re: Not getting enough fiber nowadays, Rose?

this is not the 700 club, hughness

Reply by Belinda/CA on 3/22/13 5:18pm
Msg #462599

I hope you realize I was teasing you. :0)

You are sweet to share your heart with us.

Reply by Jessica Ward on 3/22/13 9:51pm
Msg #462623

If your clients are aging your recieveables...

it's time to find new clients.

I make no more than one AR call a month. I have ONE holdout client that pays at 45 days. They get a phone call every month at 32 days, and I'm about to cut them off.

I am GREAT at providing mobile notary services. I am NOT great at providing corporate financing, therefore I DO NOT offer this service. Most of my clients pay in under 10 days.

Every November I go through my records, and cut off any client who consistently paid over 30 days, regardless of "volume" and every time I've been able to replace said client nearly immediately.

Reply by Natacha Joseph on 3/23/13 8:02am
Msg #462645

Jessica -love it! Good for you. GREAT outlook on your part n/m