Truckstop Factoring

Discussion in 'Ask An Owner Operator' started by Trplog, Jun 26, 2023.

  1. Trplog

    Trplog Bobtail Member

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    Jun 26, 2023
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    I have been with Truckstop Factoring for two years. The first year and a half perfect. I didn't have to email or call about invoices. They paid on time every time. Now it seems that every week they are not paying on time or have banking issues. I honestly don't know what to do. I tried switching to Triumph but Truckstop has made it nearly impossible to switch. Any suggestions are welcome.
     
    77fib77 Thanks this.
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  3. Siinman

    Siinman Road Train Member

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    Mar 5, 2017
    Kansas City, MO.
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    Say No to Factoring!
     
    m16ty, RunningAces, Deadwood and 3 others Thank this.
  4. Big Road Skateboard

    Big Road Skateboard Road Train Member

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    May 2, 2021
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    And the contract you signed says?
     
    bamanation Thanks this.
  5. Keepforgettingmypassword

    Keepforgettingmypassword Heavy Load Member

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    Jan 11, 2022
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    Start saving money to find a end to the rat race.
    There nothing wrong with factoring other than the vicious circle it starts. Good luck. Stay green
     
    Jubal Early Times Thanks this.
  6. RunningAces

    RunningAces Road Train Member

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    Jul 2, 2017
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    Stop using factoring there is already too many hands in your pie as an MC. If you absolutely need some quick cash use a brokers quick pay option. Some reputable places only charge around 2%, which beats factoring and there is no ###### reserve. Once you've got some money stop using quick pay too.
     
  7. jjackjjackson

    jjackjjackson Bobtail Member

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    Dec 7, 2023
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    I can help. I know their contract inside and out
     
  8. bamanation

    bamanation Heavy Load Member

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    Jan 22, 2009
    Muscle Shoals ,AL
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    I’ve used OTR since day one. I have a some customers that I don’t factor their loads. That’s one of the main reasons I went with OTR. They won’t require all loads to be factored.
     
    Vampire Thanks this.
  9. Mr Uturn

    Mr Uturn Light Load Member

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    Jul 30, 2021
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    Use quick pay from broker. Then use that money to run next load or two without quick pay or factor.
    Repeat that for a month.
    Once the money from the other loads gifts the bank.
    Run off your own money, or use your visa pay off at end of month. So your getting airline miles or points, plus a interest free short term loan.
     
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