30 day pay rule

Why would you have to factor $3500 a week every week?

 

Ok then...However much....Im Certainly Not giving up $8,750 per year in earnings to get paid faster..

 

Better question.Why are you even Factoring Anything? Dont matter how much

If you dont have the capital......Should you be an independent carrier? Probably Not

 

So what if that's just how someone chooses to manage their business, that doesn't determine whether or not they should be in business. That's only your opinion. Everyone spends their money the way they see fit and that should not be your concern.

 

I know someone who factors everything only because he wants his money right away, that works for him. If I have to haul for someone who I am not altogether comfortable with, I will factor that load and let the Factoring company deal with it. Right or wrong that's my logic and it works for me. If it comes back and bite me, then that's just the cost of doing business the way I know how.

 

Sometimes factoring can help especially in this persons situation. ...

 

you give up 25% leasing on.

seems to me like factoring would be much lower revenue.

at 5% to factor, sure you making someone a lot of money. but 25% leasing on. is making some carrier 5 X more money.

i've worked for 3 small carriers. don't know how much they factor. but they most defenitely use the service. been in business quite a few years and it works for them.

 

LMAO. So if I factor, I have no money? Do you even know what factoring is? Is 95% guaranteed more than 0%? Security, brokers and shippers go bankrupt every day. If you worried about the 5%, book better paying loads.

 

Well,Thats a Risk i Take..And i have yet to lose on a shipper or Broker..As for paying loads?? Im Fine,Trust Me..

I simply cant fathom giving $8 to $15k per year of my income just so i can get paid faster..No Way.

To each thier own


And Yes ..Most Folks that do factor......Dont have the weekly capital to float