What are your thoughts on this...

From 2007:

Escrow accounts

This is a post from this very website about escrow. Whoever thinks this isn't normal and hasn't been around forever needs to wake up. You may have strong opinions on the matter, but that doesn't change the realty of this situation.

 

I would never ever pay a W-2 employer escrow .

not now , not ever .
Does any other industry do it ?

only scammy ones .
No legitimate job attempts it .

And if you pay into escrow , just keep in mind that you will NEVER see that money again .
Kind of like the cleaning deposit at an apartment.
They will find a reason to keep the money .

 

Did you read the thread?
Doesn't seem too popular back then either.
I don't find a lot of support for your theory that it is normal or acceptable..
But what do I know, I've only got 5 decades on the truck..BTW I've never been asked to escrow so..
If you like your escrow job you should keep your escrow job. I hope the funds are returned after separation but most aren't.

 

The OP was asking if this was normal. I will say no. I have been out for several years and restarting I have 2 pre-hires with megas no escrow required, I have a third interview Tuesday with another mega, no escrow required, I have a regional carrier that appears highly interested no escrow required all W2. I would advise extreme caution and a very deep dive into the company as a whole as well as the contract the company gives to drivers. This may very well be legit if the escrow is the only deduction required and can be used for minor damage or cleaning after the Truck is turned in. At the same time I would bet once you read the contract there would be additional penalties/fines/fees for things like 5 mins late to aapt, not maintaining an impossible mpg, drop and hook charges for repairing a trailer that needs prior to driving etc. Driver is responsible for tolls and lumper fees. This is what I would be very wary of and would advise OP to strongly consider before even accepting an orientation offer.

 

You know the old saying “ theres one born everyday” . Well they been having them for years. I dont care who someone works for but I wont work for low rents like that and I have worked for some before but even they didnt have stupid escrow accounts.

 

Most of the posts say "ahhh heck naw", and the last says it's illegal.

Just because it's common doesn't mean it's normal or legal.

It's common to make wait staff clock out at closing time and then clean until the restaurant is ready. Doesn't make it normal or legal.

 

Didn’t read all the posts but agree with those that say the escrow money will be gone and paying for a deductible doesn’t sound much better

Even if you are hit by someone else there could still be a deductible involved and how much is it?

I would look elsewhere

 

I have a friend that had some sort of extra insurance on himself when he was a company driver that prevented him from losing his home as this lawsuit stuff affects everyone at the party

I also have a “wall” between myself, my company, the company I’m leased to and my equipment

 

How is escrow not a concern?

I’m not in that arena but I read posts here almost weekly if not daily how the driver left and they kept his money
I have to believe that an escrow may be normal but also believe that more acre the guy out of it than those who pay it back with interest

And
If he has knocked in 1000 doors and only this one opened then that’s one thing
But if it’s been only one or two? Then knock on a few more

 

I thank you for all the responses. I do appreciate the help and insight. I have plenty to think about. A majority in this post and from a previous post , several years ago, plenty say stay away. I am not too worried about the escrow for repairs if I was to break something inside the truck, but am extremely concerned regarding if I was in an accident of some sort. I have the same views as most, I am not the owner of the company, or the truck, and companies carry insurance for exactly that very purpose- accidents. A driver should not have to be worried about this. Most accidents are considered "preventable" . I will keep searching for something else.

I will clarify further about my situation and maybe someone can direct me. I have 9 years combined under my belt of actual driving experience, the company I worked for over 4 yrs ago folded, so then after that I started with a local operator who was just starting out, and on my first run with him, I had an accident in a parking lot. I probably could have fought it, but it was in another state and I needed work quickly. I took the accident as my fault. No injuries, it was a citation, and both trucks were able to drive away. So in the last 3 yrs and 10 months I went into another field. I kept my CDL , Medical Card and Twik card current. I do not want to be desperate, but informed. Even Schneider and Swift said no, that I need 6 months behind a wheel to hire me. So, it is tough to find a gig. I am a hard worker, will run for a month at a time if I have to, as I did previously. Just need someone willing to give me a chance.

The company I am referring to has overall good reviews, 4.1 out of 5 stars. Small company of 75 employees, been in business since 2001. They have plenty miles at .60 per mile and pick up general freight from several distribution centers, they have benefits and pay 50% of premium, rider and pet policies they charge driver for the policy and deposit on pet, and as mentioned earlier, they charge the $1000 escrow and if you are at fault in an accident, you pay deductible. I do not know what that deductible is. I will say that the recruiter said that MVR was spotless. and he quickly ordered a drug testing that will be good for 30 days. I have not denied or accepted this job. But he definitely was kind of pushy. They will fly me out to destination, put me in a nice hotel and have a 1 day orientation. After that said he will get me home to retrieve my belongings.

Thats if I accepted the job.