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Eclipse payments - Wayne Schutt II/NY
3/2/2007 8:20:00 AM (2805 views)
Re: Eclipse payments - Kevin Ahern/CT
3/2/2007 8:29:38 AM (3342 views)
Re: Eclipse payments - Robb Grandon/OH
3/2/2007 9:38:28 AM (3220 views)
Re: Eclipse payments - Kevin Ahern/CT
3/2/2007 9:55:37 AM (3227 views)
Re: Eclipse payments - Wayne Schutt II/NY
3/2/2007 2:42:07 PM (3173 views)
Re: Eclipse payments - Wayne Schutt II/NY
3/2/2007 2:10:19 PM (3173 views)
Re: Eclipse payments - Kevin Ahern/CT
3/2/2007 4:48:06 PM (3158 views)
Re: Eclipse payments- Bank loan???? - george Hubka/MI
3/2/2007 8:34:04 PM (3170 views)
Re: Eclipse payments- Bank loan???? - Wayne Schutt II/NY
3/3/2007 5:00:47 PM (3212 views)
Re: Eclipse payments - Wayne Schutt II/NY
3/3/2007 4:45:49 PM (3109 views)
Re: Eclipse payments - Kevin Ahern/CT
3/3/2007 6:07:21 PM (3144 views)
Re: Eclipse payments - Scott Perry/PA
3/3/2007 11:22:19 PM (3122 views)
Re: Eclipse payments - Kevin Ahern/CT
3/4/2007 3:35:26 AM (3055 views)
Re: Eclipse payments - george Hubka/MI
3/4/2007 9:16:28 AM (3092 views)
Re: Eclipse payments - Scott Perry/PA
3/4/2007 2:32:54 PM (3113 views)
Re: Eclipse payments - Scott Perry/PA
3/4/2007 2:21:26 PM (2981 views)
Re: Eclipse payments - Kevin Ahern/CT
3/4/2007 2:32:32 PM (3077 views)
Re: Eclipse payments - Scott Perry/PA
3/4/2007 2:33:38 PM (3111 views)
Re: Eclipse payments - Kevin Ahern/CT
3/4/2007 3:01:34 PM (3276 views)
Re: Eclipse payments - Scott Perry/PA
3/4/2007 8:30:48 PM (3172 views)
Re: Eclipse payments - Kevin Ahern/CT
3/5/2007 11:16:26 AM (3340 views)
Re: Eclipse payments - Scott Perry/PA
3/5/2007 11:26:10 AM (3325 views)
Re: Eclipse payments - Patrick Tarr/NE
3/7/2007 12:36:24 PM (2975 views)
Re: Eclipse payments - Robert Franco/OH
3/7/2007 12:41:39 PM (2995 views)
Re: Eclipse payments - Patrick Tarr/NE
3/7/2007 2:28:52 PM (2998 views)
Re: Eclipse payments - Robert Franco/OH
3/7/2007 3:26:42 PM (2874 views)

We are very pleased that we have been able to create Source of Title and that so many people find it a useful resource.  Sometimes I do dread seeing the posts about abstractors not being paid, but as you point out, it is a valuable notification for others.

Unfortunately, we do have a long tradition in the abstracting profession of advancing fees and our time - NET30 terms are the norm in most service professions and there is nothing inherently wrong with that.  I am always happy to provide NET30 terms to my clients and I have always given new clients a chance.

However, the NET30 terms have been abused by some clients who sent out notices that they were adopting a NET45 or NET60 payment schedule.  Abstractors who depended on that work for their livelihood had little choice but to accept them.  Further exacerbating the problem are the new companies that are ridiculously underfunded to handle the size of the operation they attempt to manage.  They simply accept orders that they cannot pay for, until they are paid, and they just push off their responsibilities to their abstractors.  In many cases, it is a business exclusively built on cash-flow and the slightest problem with one of their clients and their vendors suffer greatly.  The "house of cards" analogy was very fitting.

I'm do not know Wayne and I am not making any judgments about his new company's financial position.  I'm just making general observations.  However, I can understand why the question would come up and it makes sense to want to know if a new company can afford to pay their vendors or if they are simply banking on future cash-flow to pay for services they are ordering.

Inevitably, whether due to mismanagement, or to getting stuck by one of their clients, these underfunded companies are setting themselves up for a fall that the abstractors will suffer from.  In my opinion, its no excuse to blame non-payment of a an abstractor on non-payment by a client.  If they couldn't afford to pay for the search when they ordered it, that is simply their fault.  It is a sign that they were underfunded from the beginning and probably in over their head from the start.

That being said, whether an abstractor chooses to do business with a new company it is ultimately up to them. If they are satisfied that payment won't be an issue, or at least willing to take the risk, that is their prerogative.  A new company has no duty to disclose their financial condition on a public website - there are advantages and disadvantages either way.

And, thanks for the kind words.  We always appreciate hearing that our work on Source of Title has been beneficial.

Best,
Robert A. Franco
SOURCE OF TITLE

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Re: Eclipse payments - Scott Perry/PA
3/7/2007 2:08:12 PM (3007 views)
Re: Eclipse payments - Patrick Tarr/NE
3/7/2007 3:47:43 PM (2910 views)
Re: Eclipse payments - Deborah Manion/VA
3/4/2007 5:09:44 PM (3073 views)
Re: Eclipse payments - Scott Perry/PA
3/4/2007 8:33:44 PM (2966 views)
Re: Eclipse payments - J Nisonger/CA
3/9/2007 9:20:39 PM (4669 views)
Re: Eclipse payments - george Hubka/MI
3/26/2007 5:48:03 PM (2866 views)
Re: Eclipse payments - J Nisonger/CA
3/26/2007 6:20:00 PM (2816 views)
Re: Eclipse payments - Sandra Morton/KS
3/5/2007 9:15:07 AM (3127 views)

E-mail mistakes you don't want to make. - Ethics/OH
3/1/2007 4:42:02 PM (3460 views)
Re: E-mail mistakes you don't want to make. - Wayne Schutt II/NY
3/2/2007 2:47:45 PM (2851 views)

Texas AG abatement - Robert Franco/OH
3/1/2007 4:40:40 PM (2327 views)
Re: Texas AG abatement - Kelli Gorman/TX
3/2/2007 11:41:56 AM (2750 views)

Legislative CALL TO ACTION re Attorney General opinion on public records - David Bloys/TX
2/28/2007 1:21:12 AM (2869 views)

non payers - Hannah McGinnis/IN
2/27/2007 10:51:54 PM (2409 views)
Re: non payers - Jay Duncan/MO
2/27/2007 11:44:03 PM (4892 views)
Re: non payers - Kevin Ahern/CT
2/28/2007 6:36:06 AM (3113 views)




Texas Atty Gen, Greg Abbott - Jan Forster/NC
2/27/2007 7:42:49 PM (1839 views)

Resource/Clear Tract - Dorothy Payne/NY
2/27/2007 5:53:30 PM (2373 views)
Re: Resource/Clear Tract - Philip Cotugno/MA
2/28/2007 5:40:18 AM (2909 views)
Re: Resource/Clear Tract - Jessica Talley/NJ
3/5/2007 7:18:25 AM (2850 views)
Re: Resource/Clear Tract - Dorothy Payne/NY
3/6/2007 9:25:35 PM (2628 views)
Re: Resource/Clear Tract - george Hubka/MI
3/7/2007 7:24:30 PM (2652 views)

Eclipse Title - Hannah McGinnis/IN
2/27/2007 2:17:04 PM (2286 views)
Re: Eclipse Title - Scott Perry/PA
2/27/2007 4:23:53 PM (2824 views)

Patriot Title LLC - Joseph Hess/PA
2/27/2007 11:31:03 AM (2052 views)

Expert Analyzes Impact of Texas AG's Opinion - David Bloys/TX
2/27/2007 12:41:37 AM (2916 views)

No Pay - Crystal Abstractors - Glenda Hodge/TN
2/26/2007 11:24:34 PM (2379 views)
Re: No Pay - Crystal Abstractors - Terri Langert/CA
2/27/2007 1:16:52 PM (2926 views)
Re: No Pay - Crystal Abstractors - Glenda Hodge/TN
2/28/2007 2:48:11 AM (2793 views)

Pro Bono Notary service - Jim Lissemore/NJ
2/24/2007 5:21:01 PM (2351 views)
Re: Pro Bono Notary service - george Hubka/MI
2/26/2007 8:58:42 PM (2778 views)
Re: Pro Bono Notary service - Loretta Reed/MD
2/27/2007 10:56:09 AM (2894 views)

Texas AG Says County Websites Could Land Officials In Jail - David Bloys/TX
2/24/2007 9:03:35 AM (3203 views)
Re: Texas AG Says County Websites Could Land Officials In Jail - Jan Forster/NC
2/24/2007 9:40:14 AM (3148 views)
Re: Texas AG Says County Websites Could Land Officials In Jail - David Bloys/TX
2/24/2007 9:51:31 AM (3066 views)
Re: Texas AG Says County Websites Could Land Officials In Jail - David Bloys/TX
2/24/2007 10:12:36 AM (5040 views)
Re: Texas AG Says County Websites Could Land Officials In Jail - Lisa Ramsey/TX
2/25/2007 12:30:58 PM (3045 views)
Re: Texas AG Says County Websites Could Land Officials In Jail - David Bloys/TX
2/25/2007 2:27:50 PM (3061 views)
Re: Texas AG Says County Websites Could Land Officials In Jail - Kelli Gorman/TX
2/26/2007 12:29:25 PM (3285 views)
Re: Texas AG Says County Websites Could Land Officials In Jail - Kelli Gorman/TX
2/27/2007 12:14:41 AM (2962 views)
Re: Texas AG Says County Websites Could Land Officials In Jail - David Bloys/TX
2/27/2007 1:00:00 AM (4960 views)
Re: Texas AG Says County Websites Could Land Officials In Jail - Robert Franco/OH
2/27/2007 3:51:05 PM (3059 views)
Re: Texas AG Says County Websites Could Land Officials In Jail - Kelli Gorman/TX
2/27/2007 6:22:57 PM (2895 views)
Re: Texas AG Says County Websites Could Land Officials In Jail - Scott Perry/PA
2/27/2007 7:17:09 PM (3031 views)
Somebody call a waaaaambulance. - Jan Forster/NC
2/27/2007 7:40:55 PM (2968 views)
Re: Somebody call a waaaaambulance. - Scott Perry/PA
2/27/2007 9:56:21 PM (2948 views)
Re: Texas AG Says County Websites Could Land Officials In Jail - Kelli Gorman/TX
2/27/2007 10:35:41 PM (2896 views)
Re: Texas AG Says County Websites Could Land Officials In Jail - Robert Franco/OH
2/28/2007 11:20:48 AM (2948 views)
Re: Texas AG Says County Websites Could Land Officials In Jail - Kelli Gorman/TX
2/28/2007 9:37:48 PM (3007 views)

Absolute and Contemporary - Teresa Melvin/VA
2/23/2007 11:46:30 PM (2389 views)
Re: Absolute and Contemporary - Philip Cotugno/MA
2/24/2007 10:47:53 AM (2862 views)
Re: Absolute and Contemporary - Leigh Rampey/SC
2/26/2007 4:21:53 AM (2900 views)
Re: Absolute and Contemporary - Teresa Melvin/VA
2/26/2007 8:37:40 AM (3124 views)
Re: Absolute and Contemporary - Wayne Schutt II/NY
3/2/2007 7:58:09 AM (2985 views)

Mortgage Lenders and AFX - Gena Taylor/VA
2/23/2007 6:04:17 PM (2362 views)
Re: ..... AFX - Dave Pell/GA
2/23/2007 7:47:01 PM (3037 views)
Re: ..... AFX - Russ Frye/GA
2/26/2007 10:00:50 PM (2774 views)
Re: Mortgage Lenders and AFX - Wendi See/SC
2/25/2007 12:19:43 PM (2943 views)
Re: Mortgage Lenders and AFX - Jessica Talley/NJ
2/26/2007 7:37:45 AM (2925 views)
Re: Mortgage Lenders and AFX - Kristi Lee/NE
2/26/2007 9:34:34 AM (2823 views)


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