Quote:
Originally Posted by wrongwayTommy
I have learned that quick pay is sometimes not so quick and they still charge you quick pay rates
I use quick pay only with my past proven quick payers ( within one week of delivery) and factor the rest
one word about factoring,you might want to check the brokers credit with your factoring company ( to make sure they will buy the invoice)before you haul the load if you are not familier with them because the load boards may say they have good credit and in reality they do not.
I also get 30-40 % fuel advances whenever i can to pay my fuel as i go and get the cash price which saves me money
around here,most banks do not factor loads so that leaves them out
Now who said you have to rely on the loadboards for credit ratings?Anyone who goes and gets their MC should know within a month that the credit ratings on the loadboards are usually outdated.I first signed on with D&S factors and when they realised I wasn't sending in any bills they locked out my account in doing credit checks on brokers.I then found my own broker credit ratings on a site and that is what I use.It is pretty much accurate when comparing it to USIS or RTS credit.I was thinking the banks wouldn't factor either and not even a line of credit in these hard times.
The brokers that I was suspicious about always said they didn't do quick pay or hesitated and wasn't sure if they had enough money in their reserve to do a quick.NO QUICK PAY WITH A BROKER, THEN NO HAULING LOAD FOR THAT BROKER.
Then you have the others who call you out of nowhere because they saw your whereabouts.Guess what............ you punch in their MC and their credit and paymnet history comes up ****ty.You better not even ask them if they do a quick pay.