As an alert, I must add that the clients we are having collection problems with are other outsourcing companies and small Title firms. We are very fortunate that our growth is with some of the larger lenders which stay very current.  I would also like to add that we are behind only because of the work load we are under and not because of any financial problems. We are blessed with more business than ever & we simply do not have the time to write the thousands of checks we process each month. I have recently heard from others the same senario with collections that we are having. It does not bode well for any of the independent abstractors out there. The refi boom was a huge bonus for many but now we should all be wary of the fallout to come. As for us, we are limiting our new clients to only those with a proven track record. This is a hard policy for us to institute but one that we feel is manditory for the current business climate. I previously was opposed to the notorious list of losers but now agree with many of you that a checks and balance or possible rating of clients is perhaps a necessary evil.
Bob Oakesto post a reply: login - or - register