broker not paying.................
 

ok i had a previous topic on here about a broker maybe not paying........ its been 25 days, on the 31st day, what to do(besides call and say where is my money), the terms were 30days after receipt of bills, do i threaten to try to get there bond or something like that(i heard someone say something like this b4)

also, when dealing with a broker that does quick pay..... do you need to sign something for quick pay? i mean is it a seperate service or something? reason i ask is i done a load for a broker who did quick pay and i got paid COD no problem all i did was tell him i wanted quick pay, but with broker im dealing with in this topic, she said she done quick pay then, when i delivered load she said i didnt sign up for it and can "sign up" for it on the next load...................?

Yes,always get the quick pay signed.You may not have to on every load,but you should with every broker.You said terms with that broker are 30 days upon receipt ?? If you mailed your paperwork allow for the good old mail to add a couple days to your pay time.In my office one of the problems some carriers have is they need to remember it is days upon receipt,not just the invoice date.

If you haven't received payment in 30 days, you could make a phone call and ask whether payment has been sent. If not you can inquire as to when you can expect payment. It isn't time to file on the bond. I would expect about 6 weeks for payment to be received once you have mailed in your bills. Some will pay sooner. If you want to sign up for quick pay, you will need to do so in writing. When you sign up for quick pay, you will usually have your bills discounted from 1/2-8%. You need to be aware of the discount rate and when you should expect payment. Read your documentation carefully before signing anything. It may be cheaper for you to factor rather than paying the broker a quick pay fee.

ok good,,, the brokers office is only about 10 miles(if that) from the house that only reason i took load with broker with bad credit, and my father in law drives for this company(its a small company), so should i expect payment in 6weeks even though terms were 30days?

No way do you just accept 6 weeks. Call them up, say you're making a courtesy call to remind them that invoice #xxx had 30-day terms and the balance is now due. See what their response is and take it from there. They may claim that they never received the paperwork or that checks get cut on Friday and yours goes out then. Whatever the response, get them to commit to a time-frame for payment. If that day comes and goes it's time to not be so nice. I've always found that the "courtesy call" usually gets the desired response.

yea i was gonna take your advice that you gave on the last topic about this a few weeks ago... on the 29th day call them and give them a reminder that payment is due,.............. they commited to a time already though..30days correct? well see what happens, i got the load thru getloaded.com so i can put my credit experience with them down. i will also let you guys know what broker it is if they dont pay in 30days. Getloaded.com says their credit rating is an 82, but checked it 2 different other places and rating was in the low 60's

Keep in mind alot of times it is net 30 days. Only count the week days, no weekends or holidays. This would make 30 days take 6 weeks. I always send in an invoice with open bills as a reminder when time is getting close. This is a way of letting them know you are keeping track. Sometimes if people don't call they will let it ride for as long as they can till they hear from someone.

The reminder invoice is a good idea, I fax my past due invoice with POD and contact info requesting check number and date mailed. If the broker is 10 miles from home, find out when they cut and sign checks and go pick it up in person, invoice and POD in hand. A 60-82 credit score is a broker to AVOID!!

What is the lowest credit score that would be generally deemed acceptable?