Hello everyone, I am looking for some advice. You see I have worked for the last year for a company here in California hauling produce to their warehouse. I have been driving commercially for over 8 years hauling dry and refrigerated goods pulled tankers, fuel and milk (not at the same time)anyway here my problem. The company that I was driving for is going into bankruptcy and they owe me a few thousand dollars in payroll and vacation pay. They don’t have the money to cash me out, however they have offered me the tractor that I have been driving in exchange. The tractor is a 1995 International 9600 series and it runs strong. However I have always driven for someone else so I don’t know my way around the world of being an owner operator. Is it really hard to get all of my permits on my own? Or would it be better to use one of those online sites that charge for the service? Is it better to lease a trailer or own? Or should I try to sale the tractor which may be hard because of its age?

First off, how much do they owe you???? Is the truck a day-cab or a sleeper? Either way I'd say the value is going to be around $5,000

You live in California so You do realize that in a year the truck will not be able to run in California due to emissions regs (CARB)........ I'd say if they offer you the truck SELL IT to a dealership and pocket the cash. Just my .02

If the company is going into bankruptcy you should make certain that they can actually sign the truck over to you. Bankruptcy rules differ from state to state, but the trustee might be able to pull the truck back into the bankruptcy if it is less than 6 months to 1 year before the filing. If it is payment in lieu of wages, it might work for you. Before committing, I would consult a lawyer who knows something about bankruptcy.

If you decide to proceed with the truck and want to lease it to a carrier, then you may be able to get all of your permits through them. Many have a program where they front the costs and charge it back to you through your weekly settlements. Some carriers furnish the trailer, others don't. It depends on the type of freight you haul. I prefer buying to leasing, but it is another way to get a trailer. If you want to get your authority, it just takes a little time and money. When you run your own authority the you will be responsible for all permits, base plates, etc., You will need to front the entire cost up front. One thing that might help you spend a little less is to get a copy of the 2290 that your carrier paid this year. It will save a little money.

I doubt that you will get much money from a dealer. Most prefer newer trucks. They would likely take it to an auction. You could use it as a trade in on a newer truck. If it is in good shape, I would probably just drive it for a while. It comes down to whether you want to become an owner operator or continue driving a company truck.

They are in to me for around fourty two hundred. As far as the truck it's a sleeper. But I hear what you are saying about all the stupid reg's coming out of Sacramento you would think they would grandfather and when it came time to rebuild or replace the power unit then it would have to meet current regs. Oh well just keep voting them out and new rats sneak in.lol

Thanks Gman, it is in lieu of wages and their attorney said they needed to sign it over to me before filing or they wouldn't be able to and that I would have to wait like everyone else. I've been that route before and ended up with nothing. I have looked at some of the outfits out here on the west coast but they want newer tractors. And I can understand their concern. I think I would like to try my hand at being an owner operator but just not sure where to start. I have been doing a lot of reseach online and it can be a bit overwhelming.

Schneider leases ANY year tractor.... just a thought.

I would probably take the truck and run with it. Even if you decide to sell the truck it will be easier to convert it to cash rather than wait until the bankruptcy court decides what they want to pay. There are some carriers who will lease you on with older trucks as long as they present a decent appearance and is in good mechanical condition. Landstar used to lease on anyone who had a truck that would pass the DOT inspection. There are others. Most of the higher paying carriers will lease you on with older trucks. It is usually the cheaper carriers who pay low mileage rates that require newer equipment. I would go with a carrier that pays percentage rather than mileage. Most of the time you can earn more on percentage. You may consider buying your own trailer, but most carriers either furnish a trailer or rent you one of their's.

Hey Gman and Steel Horse thanks for the advice will check out more carriers. Thanks again

Only problem you may have is the fact you said you were a local driver.... did you do any OTR driving and can you prove/verify miles??? I know Landstar now requires at least 4yrs OTR and their hiring process is crazy, tho lately I have seen more and more junky landstar trucks and it's seeming like they will take just about anyone now-a-days.