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Good 
Orange Level
Joined: 05 Apr 2010
Location: Logansport IN
Points: 453
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 Posted: 17 Dec 2010 at 6:33am |
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I agree with ya Tom,in my experiance in selling stuff or loan someone money or a tool it seems to be the ones I know try to take advantage of me first.If the people would just say there having problems need more time or make payments. It's the not hearing from the deadbeats is what gets me mad. You have a business to run don't worry about the few on here that think you did wrong maybe they could pay the guys bill if there so worried about it.
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B212,716,two 314H's,WC,WD,D19,190XT
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jaybmiller
Orange Level Access
Joined: 12 Sep 2009
Location: Greensville,Ont
Points: 22458
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Posted: 17 Dec 2010 at 7:01am |
Guess I was taught right,as I'm 'old school' and KNOW that MY bills have to be paid! When I started my own company the early years were tight(still are) but I did what I had to to be sure NONE of my suppliers ever got a bad check,maybe late by a few days, but never bad. Could be that's why I've got an 820/840 credit rating.
If the buyer fesses up to hard times and can make a resonable payment that's ok but if he's still driving around in a new car well......
Case in point, pop put a deposit a cottage in a 'camp' up north(Temagami,Ontario),then his health goes down, bad.Instead of giving the money back(claimed he didn't have it), the owner buys lots of new boat engines,etc. for the camp.When pop saw this, he was really steamed,uttered words I'd never heard from him and that ended 30+ years of 'going up north'.
Closer to home, stepson buys my motorcycle then returns it,cause it 'drips oil'.2 days later I go to move it,won't start,cause he dropped it and the tranny's busted.I had to give him back his money(I am married to his mother ,remember!) and to this day he will NOT admit he busted it,sigh.....
On the other hand 99% of the people I know are nice friendly,give the back off your shirt, call me - I'm there for you types! It's just the bad apples sour your day once in awhile.
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3 D-14s,A-C forklift, B-112
Kubota BX23S lil' TOOT( The Other Orange Tractor)
Never burn your bridges, unless you can walk on water
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Brad(WI)
Silver Level
Joined: 12 Sep 2009
Location: Oxford
Points: 186
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Posted: 17 Dec 2010 at 7:30am |
Charging extra for the few that don't pay is common practice, just nobody says it. AGCO, JD, CIH all charge a little more for the possible mechancal failure while under warranty. Almost all store charge you more to cover the credit card charge, even if you are paying cash (credit card company takes about 3% of all sales charged). All stores for Wal-Mart to the mom and pop grocery store have to charge a little extra to cover thefts. It's a fact of life. Just like they have to charge for building costs, utilities, wages, profits, taxes, etc. It's all figured into everything you buy.
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Dick L
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Joined: 12 Sep 2009
Location: Edon Ohio
Points: 5087
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Posted: 17 Dec 2010 at 10:21am |
And how many buy new cars where the cost of materials are less than half of what you pay for the car?
Recalls, redesign, material price increases, law suites, damage in transportation and a bunch of other unforeseen things have to be added in whether they ever occur or not. If unforeseen costs are not added to the price of a product then people that produces that produces will be out of work when some of those unforeseen costs occur.
Just the facts mam, just the facts. Opinions don't pay bills and make payroll. Covering all your costs and making a profit does. Oh by the way, making a profit is not dishonest even though it is used that way in class warfare. If it is dishonest then when you go to work for some one and take a wage it would be dishonest. Anyone paying payroll taxes is paying tax on your profit.
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Reindeer
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Joined: 14 Sep 2009
Location: Calgary, AB
Points: 650
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Posted: 17 Dec 2010 at 11:33am |
We have done a lot of business in Mexico, and South America. A lot of my friends wondered about credit risk down there, but is is just like here. In the end, it depends who is on the other side. Some of our customers could get a container full of stuff on their word, and others could not get a envelope with a couple of bolts, before the cheque cleared. Took a while to figure out the lay of the land, but once you did, then things when pretty well.
In every business, we have to pay our staff, and our bills and to do that we need to make sure we raise enough money to make that happen. Priciing reflects our costs, and expected charges for freight etc. If we expect difficulty, sometimes we take a bit more, to cover costs. And then sometimes we get a surprise. In the end more money is lost on errors, than dishonesty.
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Dick L
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Joined: 12 Sep 2009
Location: Edon Ohio
Points: 5087
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Posted: 17 Dec 2010 at 11:43am |
[QUOTE=Reindeer]
. In the end more money is lost on errors, than dishonesty. How true
Edited by Dick L - 17 Dec 2010 at 11:45am
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TomYaz
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Joined: 14 Sep 2009
Location: PA
Points: 10323
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Posted: 17 Dec 2010 at 12:01pm |
My uncollectable receivables will be about %1.75 of total receivables this year..actually not too bad I think as the way that goes...
BTW becasue of my post I have received contact from a commercial debt collector who claims to be attempting collection off of one of my non-payers...grain of salt is in hand, but I will hear what they have to say and can offer...
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Reindeer
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Joined: 14 Sep 2009
Location: Calgary, AB
Points: 650
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Posted: 17 Dec 2010 at 12:28pm |
Credit card ??. Well, after going over the fees from orbital.com, it looks like they are taking only the standard ~3% that the credit cards regularly peel off. My bookeeper took their statement away from me, as that was pretty confusing, and looked at only the bank records, which are much clearer. That'sa relief.
It is a small part of our business, but none the less, it had me in a bit of a fit!!
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TomYaz
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Joined: 14 Sep 2009
Location: PA
Points: 10323
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Posted: 17 Dec 2010 at 2:33pm |
 Reindeer wrote:
Credit card ??. Well, after going over the fees from orbital.com, it looks like they are taking only the standard ~3% that the credit cards regularly peel off. My bookeeper took their statement away from me, as that was pretty confusing, and looked at only the bank records, which are much clearer. That'sa relief.
It is a small part of our business, but none the less, it had me in a bit of a fit!! |
Are you talking about orbitalpay.com? Orbital.com is a areo-space company.
I got the fees from orbitalpay:
Discount rate 2.49% and .30¢ per transaction
➢ Monthly statement fee of $9.95
➢ Monthly PCI Compliance Fee $12.50
➢ Monthly minimum of $25.00
OrbitalPay Gateway rate is .35 per transaction and there is a $19.95 monthly gateway fee along with a $99.95 set up fee.
Seems steep to me....
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Byron WC in SW Wi
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Joined: 11 Sep 2009
Location: Wisconsin
Points: 1635
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Posted: 17 Dec 2010 at 5:41pm |
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I used to be in landscaping. I quoted a job for some people that I mowed their lawn for. They liked the quote but decided on more and better stuff. So I spent at least two Saturdays driving around with them hand picking their trees and shrubs. Something I didn't do for anyone else. I bought the supplies and installed them. I sent them the bill with the added trees and they sent me a check for the original amount without the additions with a note on the check saying if I cash it it's considered payment in full. I didn't have any recourse. I didn't make any money on the deal but it paid for the shrubs/trees and my guys labor...nothing for me. I still mowed their lawn though and took care of them though they were ashamed to come talk to me anymore. Finally I show up to mow their grass and some other company was there doing it. I told them to be careful and moved on. I got out of the business shortly after that because we moved. I'm not sure if I would've stayed in it or not as that was a big bad taste in my mouth but probably would have. But I understand, non paying customers can eat at you for a long time.
BTW - my experience with horse people is that they are dishonest, a story for another time. But, I don't think you can categorize all of them or anyone one way or the other. Though that is hard sometimes too. I did sell some hay to horse people this year and that worked out good.
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wjohn
Orange Level
Joined: 19 Jan 2010
Location: KS
Points: 1986
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Posted: 17 Dec 2010 at 6:07pm |
I work at a horse stable, and I also own horses. Some horse people are perfectly fine and will pay every bill they owe as soon as possible, and others.... as my boss says, are "Worthless." He's also the local veterinarian, so I hear a lot of stories about people not paying for their animals' bills. He knows that some people honestly can't pay, but the vast majority of them can. It's frustrating when people have internet, satellite TV and 5 cell phones but then claim that they can't afford to pay vet bills.
Anyways, to get back on topic, to my knowledge my boss hasn't ever pursued anybody in court to get payment, but he's in a different situation than most businesses. He's one of two veterinarians in the county, and if someone hasn't paid their bill from the last time he just doesn't deal with them anymore.
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1939 B, 1940 B, 1941 WC, 1951 WD, 1952 CA, 1956 WD-45
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