Signing Up with Factoring Company

One website freightcheck.com asks for the carriers DOT or MC number and contact info. I'm not familiar with either but if I was looking for a factoring co I would call several of them and ask what they require to sign up. You might be able to do this yourself. Call and ask them what's needed from you to sign up. You can pretend you're planning to be an owner op and I'm guessing they'll be somewhat helpful. If I come across any more info I'll let you know. I'm curious now.

 

Awesome. Thanks. have you worked with freight factoring cos before?

 

No I'm just a driver. One of the common people. I'm probably not smart enough to have my own truck. Maybe someday if I have nuttin better to do

 

haha, does anyone else have any hands on experience?

 

first of all you want to check with the IFA ( International Factoring Association) to make sure the Factoring company is in good standing.
There are several right now out there who are investigated for the violation of the code of ethics.
Ask the factoring company when they release the reserve/escrow? ask for any fee's besides the factoring fee. do they have long opening hours , or just let you hang there on Saturday without fuel advances?
Ask for testimonials, and call these fellow truckers and see how they are being treated.

 

nice write up.