yes i sold all my trucks do i need to suspend my authorty for now so i dont have to keep paying insurance just want to no what the right thing to do is thanks :roll:

 

You don't have to. Once your insurance expires, the FMCSA will revoke your authority. It will show up as an involuntary revocation. If you don't want that in your file (you might reactivate down the road) you have to send a letter requesting that they suspend your authority. That will show up in your file as a voluntary revocation. The only difference between the two is what shows up in your file. Other than that it's the same deal.

 

The way it works for me,local authority, if I voluntarily suspend my operating authority I get a kinder response when I need to re up it and it seems that the insurance Co. is a bit easier as well, I think it just looks better for you than if you just get suspended.

 

If you have to ask these types of questions on an internet forum it's no wonder you're selling your trucks... :roll:

 

There is no need to pay insurance for trucks you no longer operate. You can put your authority on hold and probably get back some of your insurance premium.

 

Now that you've gotten your answers and it's even been implied that you are a knucklehead... :lol: (I don't think so)... what's the rest of the story? It would just be interesting, that's all.

The first thing is, it sounds like you took the action with your company before the action was foist upon you- you sold, they weren't repossesed...

Did you sell because there is something else you want to do or did you sell because the trucking just wasn't working out? Did you get a decent price for your trucks?

Everybody is being affected by current conditions. Myself, I had to switch to a what I hope will be a more profitable lease with a new company. It's just interesting to hear how guys are doing, how everyone is coping. Of course, it's better to hear about the ones who have have a soft landing, whenever the change comes.