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If it seems too good to be true...

Discussion in 'Freight Broker Forum' started by boredsocial, Mar 28, 2017.

Page 2 of 3
  1. Mar 28, 2017 #11
    boredsocial

    boredsocial Road Train Member

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    Apr 13, 2014
    Louisville, KY
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    Let's just say I'm the wrong person to steal from ;)
     
    boredsocial, Mar 28, 2017
    boredsocial, Mar 28, 2017
    #11
    Coover Thanks this.
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  3. Mar 28, 2017 #12
    boredsocial

    boredsocial Road Train Member

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    Apr 13, 2014
    Louisville, KY
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    I can't comment on our exact security procedures but it was a very sophisticated attack.
     
    boredsocial, Mar 28, 2017
    boredsocial, Mar 28, 2017
    #12
  4. Mar 28, 2017 #13
    Ben Grinev

    Ben Grinev Light Load Member

    174
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    Feb 8, 2016
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    I really want to know how they did this. Or you can't say?
     
    Ben Grinev, Mar 28, 2017
    Ben Grinev, Mar 28, 2017
    #13
  5. Mar 28, 2017 #14
    boredsocial

    boredsocial Road Train Member

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    Apr 13, 2014
    Louisville, KY
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    I really don't want this method to go wide.
     
    boredsocial, Mar 28, 2017
    boredsocial, Mar 28, 2017
    #14
    wore out, Oscar the KW, strollinruss and 1 other person Thank this.
  7. Mar 28, 2017 #15
    TallJoe

    TallJoe Road Train Member

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    Apr 12, 2016
    Chicagoland
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    Well, go after them. Find them and spank them with a stick.
     
    TallJoe, Mar 28, 2017
    TallJoe, Mar 28, 2017
    #15
  8. Mar 28, 2017 #16
    gokiddogo

    gokiddogo Road Train Member

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    Mar 5, 2012
    Ontario Canada
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    How many carriers use fuel advance? Is it a high percentage?
     
    gokiddogo, Mar 28, 2017
    gokiddogo, Mar 28, 2017
    #16
  9. Mar 29, 2017 #17
    boredsocial

    boredsocial Road Train Member

    1,591
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    Apr 13, 2014
    Louisville, KY
    0
    No. Maybe 5-10% at most. Still a meaningful 5-10% though.
     
    boredsocial, Mar 29, 2017
    boredsocial, Mar 29, 2017
    #17
    wore out and gokiddogo Thank this.
  10. Mar 29, 2017 #18
    strollinruss

    strollinruss Road Train Member

    1,366
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    Jun 5, 2012
    Montgomery, TX
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    That's what I was wondering. Tell them to move load and offer quick pay. Be less risky.
     
    strollinruss, Mar 29, 2017
    strollinruss, Mar 29, 2017
    #18
    Lite bug, gokiddogo and Coover Thank this.
  11. Mar 29, 2017 #19
    boredsocial

    boredsocial Road Train Member

    1,591
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    Apr 13, 2014
    Louisville, KY
    0
    The carriers who get fuel advances need fuel advances unfortunately. Anybody with access to anything remotely resembling normal credit would be able to find cheaper money somewhere else. We charge 4% ffs. That's at LEAST a point above the market rate for factoring companies, and paying someone 3% of your gross to get your money a month faster is pretty horrific to begin with.
     
    boredsocial, Mar 29, 2017
    boredsocial, Mar 29, 2017
    #19
    wore out and scottlav46 Thank this.
  12. Mar 29, 2017 #20
    scottlav46

    scottlav46 Road Train Member

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    Jun 18, 2015
    Escanaba, MI
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    There has been a time or two I absolutely HAD to factor, because major breakdown and getting stiffed for six weeks worth of work (went after his bond, wound up gettin paid) but I totally agree with you. Factoring/paying someone for quick pay is an absolutely unsustainable business model. It'd be different if you was runnin 30% margins, but yeah right. But hey: we all got a dream, no matter whAt it takes, right?
     
    scottlav46, Mar 29, 2017
    scottlav46, Mar 29, 2017
    #20
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