New oo need advice

I'm not sure where to even start on this one.

 

You went into this industry with no experience, decided to buy a truck - then signed on with a business partner that , I guess - you thought was the best option at the time, now - they're a 'shady carrier', and you're asking here about to hold a load (and I assume their trailer) hostage.

Help us out here and give us a few more details.

Bought the truck? Financed the truck? Their trailer? Your trailer? Do you have any capital? Your authority and insurance?

Anything?

 

Problems with the Bank? No money in it.

 

My bank is also experiencing issues....

Oh well, we have checks

 

Yeah don't do that. You will open up a can of problems for yourself that you will never recover from. Deliver the load, top off the fuel tank with the company fuel card ,call your company and find out where they want you to return the truck. Deliver it , have someone sign for it and walk away. Lesson learned.

 

Sounds like another suck pool O/o lease on situation that happens more times lately than it use too. Try to leave. They own the company, truck (until it's paid off) and supply the loads. They control everything regarding the deciding factors for you. It's much cheaper to simply work for a companynas a driver with less overhead because as a O/o the overhead is what is destroying plenty O/o these days especially regarding Fuel. When sitting with my Accountant going over my business year end we calculated $80k in fuel expenses. I'm finding better fuel discounts on my own without their fuel cards. The key to success as a O/o and a Driver as a matter of fact is 'Less Overhead' expenses.

 

Deliver the load but dont turn over the BOLs is about as far as I’d go, but I’m not in your situation

what does the contract say first of all? But all leasing from a company does is basically a fancy way to pay you on a 1099 so they don’t have to pay benefits , I would be looking for a way out

 

You need to do what you agreed to when you signed your contract. You're business owner, act like it.