Need help dont know what to do

Discussion in 'Lease Purchase Trucking Forum' started by rstrucking2012, Mar 14, 2013.

  1. rstrucking2012

    rstrucking2012 Bobtail Member

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    MrEd we have a couple of friends that work with us at the same company and they are pulling great load and making more then what we are making and as for the slow season we know about that and we have made it through our slow season as for breaking $700 its not bad your right but when you go from bringing home $1000-$1500 after all expenses to the $700 in only 2-3 weeks time something is going on and I cant figure it out
     
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  3. rstrucking2012

    rstrucking2012 Bobtail Member

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    Flatbed: we are not sitting and we have checked with the other drivers and they are picking up loads out of Chicago paying 3.50 a mile as to us we are getting loads that only pay 1.50 a mile before they take their cut. We have asked dispatch why we have not been pulling out Chicago and we get told that there is nothing coming out but when we talk to the other drivers they are pulling 3-4 loads out of Chicago week. The other part of this whole problem is we found out that they where sued by another driver for starving them out when they only have a few payments left and took they truck from them. As for getting on the bad side. we where in the prosses of purchasing a house and they found out about it. When asked by the company about this they said "so your buying a house on contract" I said to them no we got a loan for our house and that is when things started going bad for us and not sure if that might have something to do with all of this problem now.
     
  4. rstrucking2012

    rstrucking2012 Bobtail Member

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    To all: I have not ran to a lawyer at this time that is why I have asked what is best to do. As for doing our homework we did that and we also have a couple of buddys that we work with and its kind of odd that the loads that we where pulling we have not been getting but the other drivers are getting and we are being sent as far away from that area as possiable. We know our slow times and we are past that this is when we start to pick up so why are we not getting the loads we where before. Something is going on and I have not been able to put my finger on what it is.
     
  5. windsmith

    windsmith Road Train Member

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    Wait - you're in business for yourself, you don't own your truck yet, cash flow is irregular, freight is slow and cheap, the company that controls your freight will also benefit financially from helping you fail, and yet you're taking on more debt? I'm sorry to say that the problem here does not lie entirely with the company.
     
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  6. rstrucking2012

    rstrucking2012 Bobtail Member

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    as for taking on more debt yes you could look at it that way but when we are only buying the house for $30,000 and the payments including insurance and taxes are cheaper then what we are paying in rent then how could that be the wrong move to make
     
  7. thelushlarry

    thelushlarry Road Train Member

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    You guys would be better off teaming as company drivers I think usx pays .48 for teams no worries about payments plus then you would be getting that extra 6.2% put in your social security for later on in life! If you have refer exp you could even do better!
     
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  8. rstrucking2012

    rstrucking2012 Bobtail Member

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  9. windsmith

    windsmith Road Train Member

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    If you team, give Covenant a call. One of my CDL classmates has relatives that team with them; they cleared $160K last year.
     
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  10. rstrucking2012

    rstrucking2012 Bobtail Member

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    windsmith: thank you we will do that and we are also thinking of going to mercer trans. a friend of ours just went there a couple of months ago and seem to be doing really well gets to choose his own loads and is making really great money right now. Your the one that said something about us buying our house and I responded to your comment but you never said if that was a great move or not when its less then what we pay in rent. So why would that be a bad move when we made that move we where making great money and when they found out about us buy the house and that it was a loan and not on a contract that is when everything went south for us here. So have talk to our bank and explained to him what has been going on and asked us to come in and sit down with him show him what we expect to make and what is going out and an acceptance letter from what company we want to lease to and he is considering loaning us the money to pay the truck off and taking it where we want. But the thing that we are worried about is after where started here we found out that there was a guy that tried to pay his truck off and wanted to go somewhere else and they would not let him another guy that worked here only had a few payments left on his truck and they starved him out of it and that guy sued them but cant find out on the court doc. what happened says they settled out of court also found that out after we where here a few months. SO with all that said what is your honest thoughts
     
  11. windsmith

    windsmith Road Train Member

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    Sorry, I've been busy with work and wanted to wait until I had some time to explain.

    The short answer to that is that I personally wouldn't take on a secured debt such as a house if I were living paycheck to paycheck, which it sounds like you are.

    I'm also curious about why you feel as if you need the expense of a rental if you're teaming and living in the truck?
     
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