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Stressed!!! Please help my anxiety.

Discussion in 'Ask An Owner Operator' started by Higb, Jan 3, 2014.

Page 3 of 6
  1. Jan 5, 2014 #21
    6 Speed

    6 Speed Heavy Load Member

    945
    482
    Jan 2, 2014
    0
    Factoring is code word for loan-shark.
     
    6 Speed, Jan 5, 2014
    6 Speed, Jan 5, 2014
    #21
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  3. Jan 5, 2014 #22
    Higb

    Higb Light Load Member

    50
    32
    Nov 24, 2009
    Augusta, GA
    0
    Your making my stress worse!!! lol
     
    Higb, Jan 5, 2014
    Higb, Jan 5, 2014
    #22
  4. Jan 5, 2014 #23
    6 Speed

    6 Speed Heavy Load Member

    945
    482
    Jan 2, 2014
    0
    I do apologize.
     
    6 Speed, Jan 5, 2014
    6 Speed, Jan 5, 2014
    #23
  5. Jan 5, 2014 #24
    Higb

    Higb Light Load Member

    50
    32
    Nov 24, 2009
    Augusta, GA
    0
    I've ran load boards for two years and my company won't let me book a load with anyone with slow to pay or less than a B credit rating. I've never really been denied a load from a broker who called on me to haul a load or one that I called off ITS.

    So many factoring companies called me this month. Some Non Recourse with a flat 5% some as low as 3% with 10% reserve but then start to go up on the 3% after 30 or 45 or maybe 60 days.

    I know I can get quick pay on Landstar, JB Hunt for 1.5% and I think TQL is 4% some other are 3%.
    JB Hunt told me Friday that they don't broker out for a year to new MC's hence me starting this thread just days away form my MC going active.

    I will have to use quick pay and factor to start, if I do, Friday I had done made up my mind to stay put,
    I'm still up in the air with what to do.
    I'm thinking D&S Factors for a flat 5% non recourse, no reserve.
     
    Higb, Jan 5, 2014
    Higb, Jan 5, 2014
    #24
  7. Jan 5, 2014 #25
    6 Speed

    6 Speed Heavy Load Member

    945
    482
    Jan 2, 2014
    0
    I started my own authority with about 25k in the bank(truck and trailer paid for),but that was quickly eaten up in fuel bills and a few minor repairs.We wouldn't haul for any broker unless they had at least a 98 credit rating. And I only had 1 broker jack me around with payment.Problem is,most won't pay you for 35-45 days and hell,I can't remember what I did last week.When I got in a position where I needed too factor,I got out.I worked too hard for that little bit of money to have to give away 4-10% to someone who does nothing.
     
    6 Speed, Jan 5, 2014
    6 Speed, Jan 5, 2014
    #25
  8. Jan 5, 2014 #26
    Higb

    Higb Light Load Member

    50
    32
    Nov 24, 2009
    Augusta, GA
    0
    The trucker does the hardest part of the work and the money passes through to many hands and every hand it passes through gets a take. Then we get held up at the dock, holes rammed through our trailer with idiot for lift drivers, jacked for lumpers, (but I get reimbursed but still $150 to do 1-2 hours of work when I drive 70 hours a week and lucky if I keep $500 after all expenses, deal with all this ####) Why I stay in is beyond me.
     
    Higb, Jan 5, 2014
    Higb, Jan 5, 2014
    #26
  9. Jan 5, 2014 #27
    6 Speed

    6 Speed Heavy Load Member

    945
    482
    Jan 2, 2014
    0
    I know brother,you see I've preached for years.Trucking isn't rocket science.It is only taking something from point A to point B.Problem is,so many people have figured a way to get a cut of the pie that have nothing to do with A to B. People that can simply steal it,legally. And the rest just buy some politicians and have regulations and compliance rammed up our anal orfice. And then there is the brokers.They can't do nothing but talk on the phone and kiss ##### and they making 20 to 40% with little up front money. Hell,the companies should be sending us a check and we should be paying them.We take all the risk and all up front. Sorry for ranting
     
    6 Speed, Jan 5, 2014
    6 Speed, Jan 5, 2014
    #27
  10. Jan 5, 2014 #28
    BAYOU

    BAYOU Road Train Member

    2,847
    1,592
    Sep 23, 2010
    Beaumont,Tx
    0
    I'm going to put my fuel on net 30.....will see how long this works!!
     
    BAYOU, Jan 5, 2014
    BAYOU, Jan 5, 2014
    #28
    ISXunlike Thanks this.
  11. Jan 25, 2014 #29
    kw600

    kw600 Road Train Member

    1,172
    359
    Dec 9, 2011
    everywhere,usa
    0
    You had your authority and were leased onto a larger company? What was that company? Why are you still not with them? How are things now
     
    kw600, Jan 25, 2014
    kw600, Jan 25, 2014
    #29
  12. Jan 25, 2014 #30
    mc8541ss

    mc8541ss Road Train Member

    1,467
    2,015
    Sep 22, 2007
    Lower Alabama
    0
    IMO if you plan on keeping your company at 1 truck and 1 driver then you were getting a pretty good deal. I didn't see how many miles you had to drive to make the 209 but seems they were very fair to you. And what they provided was worth the 22 you paid them. If you want to grow into a multi truck company and pick up your own customers then do that on your own authority. I think As fair as they treated you it would be wrong for you to go back and solicit any direct customers they currently deal with but if it is brokers then they are fair game. This is just my 2 pennies.
     
    mc8541ss, Jan 25, 2014
    mc8541ss, Jan 25, 2014
    #30
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