Posted by 101livescan on 3/23/13 8:54pm
Msg #462723
Five ways to make them pay
http://www.microsoftbusinesshub.com/News &Updates/Collect_on_debt_5_ways_to_make_them_pay
I received countless responses for this anecdote for nonpaying vendors, I thought I'd just post it for everyone. I guess this is a big issue for most of us, or soon could be a bigger issue.
Also below is a youtube video from a Minnesota attorney giving advice on how to collect bad debt.
http://www.youtube.com/watch?v=nqd_xwJtRY0
Of course, the best way to avoid debt collection is to avoid companies who do not pay their notaries. We've isolated most of them, 1, 2, and 3 star companies in SC.
Assuming you only want to work for Signing Services, I am suggesting it is a good idea to follow this protocol is accepting work from Signing Services, because as we have gleaned with events this past week, some services are completely void of ethics, values, integrity, have a proven criminal history and character, and should not be working in our industry, but somehow, since they couldn't get at job at Target, Walmart, Taco Bell, or Burger King, they have become a Signing Service. Voila!
1) Keep abreast on this board of the low pay no pay companies here, especially if they are not in SC and work with NR to get them added.
2) Before accepting their work, check out their D&B rating, BBB rating, verify they have a fictitious business name statement and get a copy of their business license to verify they are a legitimate business; determine their payment turnaround; get after hours contact numbers and principal contact names and titles. (This will come in handy if you end up having to take them to small claims); and
3) Get a confirmation in writing for the agreed upon fee, do not work for companies who pay nothing if the loan does not fund (you still printed, made the trip and sat with the borrower for a certain amount of time), taking you out of the running for availability for other assignments resulting in lost opportunities for revenue;
4) Are they bonded and insured and who is their E&O insurer, who conducts their background checks on their employees/owners and who is the custodian of their background checking results on these employees. What is the procedure for safeguarding personal and financial information of notaries, borrowers' loan documents, etc.
We need to do more due diligence too. We can't be standing around whining and wanking because we're not getting paid if we didn't take these simple steps to make sure they are good for their payments and have solid footing not only being sufficiently capitalized, but having a well established reputation in the industry with great companies with the ability to promptly pay their vendors, the middle man Signing Service.
Have you ever wondered what happens to your 1099 when you fax it to a signing service, along with your Bond, E&O Policy, copy of your DL and any other documentation they're requesting, does it just spill out onto the floor for the janitor to pickup in the evening, how is it safeguarded.
We might just as well be advertising our SSN on craigslist, or place in on the rear window of our cars for the world to see if we're going to be so nonchalant in providing it.
Get my drift, folks. I think we've been too trusting, and now the horse is out of the barn, we're shutting the gate on one, let's make sure it doesn't happen any more.
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Reply by Shelly Peterson on 3/24/13 1:36pm
Msg #462776
the best way to avoid debt collection is to avoid companies
Excellent post! I followed Brenda’s direction in Msg # 462230 and now have quick access to SC which came in handy when I received a call from a SS in Southern California. I was available and she accepted my fee, no fax backs or anything out of the ordinary. I asked her if she got my info from NotaryRotary and she said yes. I then asked her if I would find any payment issues with her company when I go on NotaryRotary to check them out. Her response, NO! Well, turns out she was speaking with a forked tongue. 2 ½ stars with no pay and slow pay issues as well as no communication; no answering phones, no return emails, etc.
The package had already landed in my inbox by the time I got home. 5 emails totaling 167 pages including Trust Certification, extensive SI, numerous Title affidavits, Death certificate requirements, Warranty Deeds to clear up Title and letters of explanation. Oh, and they wanted it done in time for me to meet the last FedEx drop off of 4:30. I called and sent an email letting them know I was turning back the assignment due to poor reviews on NotRot and the numbers site.
I get an email with a quoted proverb on the virtues of patience! Like a Wolf in Sheep’s clothing. No attempt at an explanation for the no & slow pay, no statement that they’re getting over a rough patch or whatever! ...oh I have patience, I don't mind waiting for respectable paying Clients to work with!
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