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Posted by Rick_NY on 7/24/05 9:05am
Welcome to the business world. Most of the companies I work with pay in 15-30 days from the funding date.
When you start with a new company, ASK the person giving you the order what is the time frame for you to expect your payment. You are a **business person** and are entitled to know the terms up front. The scheduler will never tell you his/her company is 'slow pay,' but at least you have some ammunition if the check gets to be 10-15 days past the day you are expecting it.
Call them, you can't establish a pattern of allowing 'late payments' because some companies will then roll right over you. "When Jim scheduled the deal, he suggested to me I'd be paid in 30 days and now it's been 45. Is there a probblem with my work?" If you called the QC dept. of the signing company a few days after the closing to find out if your work was satisfactory, you already know the answer to that question.
Call the borrower [if you feel comfortable with that] and casually follow up to learn if he/she had any post-closing issues. If they say everything went fine, you know there were no doc problems.
We shouldn't have to chase after our money, but sometimes we have to and the more confident you are about your work the easier it will be to collect. All businesses have their collection issues, not just signing agents.
Hope this helps and good luck! |
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