Thanks GMAN. To be honest you were one of the reasons I paid the money to get back on here cause quite frankly, well I better keep my opinions to myself for I personally get banned for real.

I have to be honest, one thing I am afraid of going on my own is not getting paid. I don't see how you guys check brokers credit. I know you mentioned that you have someone to call but how do the rest of us do that?

I do not take that lightly, not being paid that is. As mentioned previously, I have my mortgage prepaid til November. I always pay my bills and often up front. The insurance for this truck and cargo is paid for 12 months already. So when people don't pay their bills and especially if they don't pay me well I don't take that too well. People need to pay their bills and that's all there is to it.

 

I won't be out until October 1st, I have a closing on my last house for sale on the 26Th of August, and I'm being very thorough on my truck repairs.
I keep finding things that will be break downs, and since I now have the time,...I'm going through this truck completely.
I have a huge list of things I've already fixed, and about 20 other things to do.
As far as better rates for you,...I think you can get a better rate,...just practice negotiating with somebody.
Keep in mind that brokers want to ship for dirt, and if you stand your ground,.....better rates will come.
Is it possible for you to just give it a whirl, and try it on your own?

 

Yes it's possible but I don't want to burn any bridges. It's only been a month and I have a long way to go. I am feeling more comfortable with things. Still glad I did this though I wish I would have went with my first instinct and just got the truck and tried flatbedding.

I hesitate to say this but what the hell, I don't think I would be making what I am making as a company driver. Before this I only had 6 months OTR experience and I don't even have 18 months on my license. I haven't figured in all my expeses as I'm not sure yet how to figure in stuff like depreciation but I have Quickbooks and every dollar I spend is on a credit card and thus tracked; even my daily iced coffee. So it's not too hard to see where you are. But maybe I'm missing something that's why I put all numbers here. As GMAN says, you can have the wheels rolling and money coming in but still running at a loss.

 

Don't burn your bridges, but try to build you own so you can use both. You're a business owner now, and only you can make it work.
If going out on your own for a few runs burns a bridge, the maybe it should be burned, because its keeping you from running your business to it's full potential

 

You are right Doghouse, but don't get me wrong, I can pick and choose if I wan't. That won't be burning my bridges.

 

Merrick, there are some credit reporting companies, such as RTS, you can use to check a broker's credit. If I am dealing with a new broker I first check to see if his authority is current and his bond is valid. Some load boards have a rating system to let you know how a broker pays. If his score is in the 90's he is probably a good risk. I prefer a score of at least 92. Some load boards only report that they are factorable with a certain factoring company. Either system will let you know that their credit is likely good. If you want to avoid some of the risk of going on your own, as far as getting paid is concerned, you can factor your loads. There are some who offer non-recourse funding, which means that once the factor accepts the load, it is up to them to collect the money. They cannot charge it back to you if it is non-recourse. Once you factor the load, you can monitor how the broker or shipper pays. If it is acceptable to wait and you can fund your business until the money starts coming back in, then you can start carrying the paper yourself. Some brokers offer quick pay for a discount rate. Some brokers charge a fairly hefty rate for quick pay. I use a factor for some loads. Some people regularly factor all of their loads. Rates can vary. I prefer using a factor that doesn't require me to factor a certain amount of receivables per month. Some want you to pay a minimum charge regardless of the amount of receivables you send them. The factor I use is non-recourse, will allow me to only send those invoices I choose and will have money in my bank account within 2 business days from the time I deliver the load and send them the bills. I don't factor all of my loads, only certain ones. Some of the bigger brokers, such as CH Robinson and Landstar offer a quick pay for about 1 1/2%. You will have you money within about 2 business days with either of them. I have known of some small carriers who only use CH Robinson. Some rates are cheap, others are pretty decent. All you need do is find a few brokers who have decent paying freight who pay their bills. Get yourself set up with a factor and you won't have to worry about getting your money. If the factor won't take the load, you don't need their business, anyway. Factors don't like to lose money. They will only take business they are likely to collect.

 

Thanks GMAN, I will check out RTS. I have been using CH Robinson's quick pay and it is well worth it. Every load that I haven't pulled for CH Robinson is still waiting on being paid. Every load I've pulled for CH Robinson has been paid within 48 hours at 1 1/2 percent fee. With the way my mind works, I can't just hand an envelope to some guy/gal working at a truck stop and ask him/her to put it with outgoing mail. I can't rest unless I see it going into a mailbox.

Your post on factoring on the other thread about the services they provide made a lot of sense. I'm not running tight either, all my fuel goes on an Amex that is currently under a 12 month 0% promotion so I only need to pay the minimum balance though I don't do that.

 

If you set up with a factor, you can probably get their credit service free. If I am unfamiliar with a new broker, I can call my factor and they will tell me if they are factorable or not. I was thinking about doing business with a Canadian broker a few weeks ago. After talking with the factor, I decided to not do business with them. The factor said they are taking 55 days to pay. I decided to pass on their business and find another load. There are credit services attached to Internettruckstop and getloaded. Schneider also has a quick pay attached to their brokerage business, I believe. They mostly have van freight, but may have some reefer loads. JB Hunt is also brokering freight.

 

it's hard to tell what he meant by that.

Some brokers do require some experience...Landstar for example requires 2 years, so it that load was for LS, then maybe he was correct in what he said.
It's possible that he was saying you were a poor negotiator.
It's also possible that he was blowing smoke.

Just book a load for yourself and tell him you wanted the experience of doing it. Reefer can be tough though from what I understand....lots of waiting and rejected loads.

I woudl be scared to death of reefer. I don't have any expereince with that.

 

I don't recall Landstar or any other broker with whom I have dealt require any specific level of experience from a carrier. But then, it has been a while since I set up with them and I had experience. I just don't remember it coming up in the agreement or conversation. I think he was talking about merrick's negotiating skills, rank. Like you said, it is difficult to know without asking him. He may just be trying to protect his income from inexperience independents.