Asset Defense

Choosing a Freight Factoring Company

Posted By on Sep 24, 2014

A freight factoring company is just like any service provider; you check them out to see which ones can give you what you need for the best possible deal. And just like with any service provider, they are not all created equal. There are some things that you need to consider so that you will get the greatest possible benefit from a service that will potentially keep you out of the doghouse. Below are the 4 that you really should look into.


Some factoring companies require a minimum volume per month i.e. X number of invoices or require that they factor all invoices for a particular client in the future. Some such as TBS Factoring have no volume or long-term commitment requirement, so you can pick and choose the invoices you want to factor and when. In most cases, it pays to work with a freight factoring company that lets you run your business the way you want.

Industry Savvy

There are freight factoring companies that know everything about money but understand little about the trucking business, and that can be a problem because they don’t know the peculiarities of industry demands. This can affect how their programs are designed and may not offer the best solutions for truckers. Find a company that is endorsed by the local trucking association because in all probability they know the industry.

Fuel Cards

Your freight factoring company should offer free fuel cards. This can translate to considerable savings in the form of rebates and discounts when used in accredited establishments that cater to the trucking industry, including gas stations.

Non-Recourse Factoring

Your factoring company should offer you the option of non-recourse factoring programs. This means that the factoring company takes on all the risks of payment collection. You pay higher fees but you can set and forget. The alternative is recourse factoring, where the factoring company can demand that you make good on an invoice that they could not collect payment for.

It is important to remember that a factoring company makes money from you, so you don’t owe them any gratitude for bailing you out of trouble. Choose well and carefully so that you get the most out of freight factoring.

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Real estate prices have started to rise as the U.S. slowly gets back on the economic track. This is good news for homeowners who own their property outright, or who are updated in their mortgage payments, as this increases the value of their holdings. It is not such good news for homeowners who are seriously behind in their payments or who have already been served with foreclosure papers.

Banks and lenders are more willing to bring foreclosure to the final stages because they anticipate more demand for housing in the near future. If negotiating for a better rate and waiver of late charges have been relatively easy in the past, it was because lenders and banks are not in the business of owning property, but in making money from loans. Currently, however, it would be more profitable for lenders and bankers to foreclose on homeowners in default and sell the property themselves.

A lot of homeowners have long ago cut their losses and abandoned their property as the real estate market plunge stripped whatever equity the property had before. Many homeowners owed the lenders more than the market value of the house even after years of paying their mortgages. But there is more to a house than its market value for some folks, who will try anything to hold on to their homes. One of the options that these homeowners may consider is filing for bankruptcy.

Depending on the extent of the debt, a distressed homeowner may file for Chapter 13 bankruptcy. Under the Chapter 13 restructuring scheme the homeowner will gain some time and leverage with the lender to negotiate for a repayment of the outstanding debt on the home. Filing for Chapter 13 bankruptcy in Iowa restricts a lender from going through with foreclosure unless the homeowner fails to comply with the approved repayment program.

However, filing for Chapter 13 is more complex than it sounds. To ensure that the homeowner’s rights are protected and available options exhausted, it is advisable to get the assistance of a reputable foreclosure defense lawyer in the area.

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