Owner-Operator Reserve Account

If the guys you have been talking to need their hand held to the point of can't save money to fix the truck, you don't need them. It could happen today, but as of yet I have never had to repower a load. Not saying I haven't had to overcome a few breakdowns, or call and explain get a new appt. time. My truck makes my living I take care of it. If a man don't take care of his truck he won't give a dang about your freight or your contract, hence your living. Just my .02 worth

 

Just an fyi, a forced reserve account is not legal and is just asking to be sued. An escrow account is legal and standard practice for covering ins deductibles, freight claims, abandonment issues. Things like that. Never maintenance or breakdowns.

 

Not standard practice, if you let them get away with it you have no one to blame but your self. I am leased to one of the largest tanker outfits in the world, $1000.00 deductible. IF it's my fault I have a choice; write a check or 4 deductions from my settlements, if it is a terminable offense then its one easy payment out of your last settlement. In the state of Ohio it is against the law to insure anything that is not titled, deeded, or registered in your name.

 

I guess I'm lucky then to have a company that funded my maintenance account for me, from day one, when I joined the company as an O/O. It's fully funded after two years and if I leave the company, I get to keep the money, as long as I leave on good terms and haven't done anything stupid or unprofessional. So it acts like a sign on bonus too. I'm not going to say the $$ amount but it's significant. Nice to have in the case of an emergency.

 

My current escrow pulling company trailer is only 1000 dollars. I put 100 in per week for 10 weeks. That being said, much more then 100 is kind of hard for someone with truck/mortgage payments.

 

Same here. it is our responsibility to take care of our rig and know enough to be able to fix the small stuff on the road.

 

With all due respect, if a hundred bucks a week makes things hard on a guy, he is pulling way to cheap of freight. Or has some seriously bad money management issues.

 

Its perfectly legal if they sign a contract agreeing to it.

 

Like I said if you let them get away with it then you have no one to blame but yourself.