eCapital

Discussion in 'Ask An Owner Operator' started by 6wheeler, Dec 1, 2015.

  1. 6wheeler

    6wheeler Road Train Member

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    I am switching from eCapital to Financial Carrier. I am having an awful time doing this.
    Financial Carrier says, eCapital is charging me twice on 4 Delivered shipments. eCapital says no they didn't.
    I can't seem to get this worked out. I can't get paid on anything because of the hang up and this has been going on for a week.
    Not really sure if anyone can help, just wanted to share my troubles.
     
    Kerri Thanks this.
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  3. spyder7723

    spyder7723 Road Train Member

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    Yet another reason not to factor. A line of credit at your bank is not only much easier to deal with, but much much cheaper.
     
  4. 6wheeler

    6wheeler Road Train Member

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    Yea, but can't get one when your credit score is like 500 from waiting 3 weeks to get paid from shippers. That's why I have to use a factoring company.
     
  5. spyder7723

    spyder7723 Road Train Member

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    Wait a second. Did you really just blame your bad credit history on shippers?
     
  6. 6wheeler

    6wheeler Road Train Member

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    Pump $300 in fuel in truck on Monday delivery on Tuesday and wait 25 days later to get it back. Reload truck and pump another $300 out the bank, and so on.
    That's why I factor.
     
  7. spyder7723

    spyder7723 Road Train Member

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    Yes, I realize what fuel cost. but what does that have to do with having a bad credit score?
     
  8. 6wheeler

    6wheeler Road Train Member

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    Bank won't give a line of credit, already tried both banks.
     
  9. spyder7723

    spyder7723 Road Train Member

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    how much does factoring cost you in fees per year?
     
  10. 6wheeler

    6wheeler Road Train Member

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    I got out of factoring for 5 years, it's not where I want to be. But shippers don't want to pay right away. Bills and expense come everyday. Fuel, taxes, repairs, insurance, food and I can't wait 25 days to get paid. Even if I get a shopper to pay quickly, 2%/10 days, that's the same as paying a factoring company.
     
  11. CJndaTruck

    CJndaTruck Road Train Member

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    I believe the point being made is that you are severely under capitalized. That 3-4% eats into your profit potential. Now with that said, can YOU find a double charge or is someone just trying to gain you as an ATM I mean customer?
     
    spyder7723 Thanks this.
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