75.00? I’m fairly new to traveling a distance for signings. So can anyone give me an idea of whats a fair RATE OF PAY.
Ex: I was offered 75.00 for a debt consolidation and must read presentation. The location is 25 to 30 mins there and 45 mins or so back due to work traffic. total travel time 1.5 hr plus presentation and then signatures about 1.5hrs additional.
Please help
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Well for myself, If I have to travel more than 30 min than my price goes up to $125.00 if I travel for more than an hour its $200, but you charge what you think is best for you. $75 the signing has to be within 10 miles and no more than 100 pages to print. Hope that helps.
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If you’re fairly new, take it for the experience. As you develop more experience your first month you can adjust your rates accordingly later. Or, you can always counter offer and see if they’ll accept on their end. I usually counter-offer, if it’s a busy week I’ll counter higher, if it’s a slower week and the signings haven’t been as consistent, I’ll counter lower ($20-$25) and I’ll get it 50% of the time. Hope that helps. Good luck, you’ll do fine.
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A word of caution. Google notaries and debt consolidations. They are ‘using you’. And not as a notary. Wait for a real refi, buyer or seller package. Don’t let them take advantage of you to read a script to some unsuspecting person that thinks he is getting a deal by reducing his debts. They are NOT all on the up and up. It is a very gray area, savy notaries stay away from these types of signings. You don’t notarize anything, you read a script, the signer sits there rolling their eyes, and they ask questions that you can’t answer because you are NOT allowed to. Then you get the lawyer on the phone and he convinces then it’s a good deal, which it’s not. Move up and on. You will get real signings, just keep signing up with as many services as you can!
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These debt consolidations are pretty easy. Depending on the company you only have to print 1 set of docs (about 50 pgs). Additionally, I do negotiate if the distance has tolls or if I have to pay for parking (based on where I live, I dot travel more that 15 mi round trip and I do not print the part of the presentation that I have to read since I use my Chromebook.
But $75 is pretty standard for this type of signing and I get them several times per week. Just do what is best for you and track your costs to assess if you need to charge more.
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I did a couple of these signings only for the experience. I found it left me feeling a little dirty as I knew this was not a good deal for any of the customers I was reading this script to. I did four before I decided that it was not worth it. They only paid me $50 for each one, but the experience was what I was going for and I was brand new. You will have to decide if this is the type of business you want or will do. I didn’t like how the script read that I was a representative of the company which I was NOT.
Good Luck!!
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I don’t advise using the debt consolidation ones. I did one once in my earlier days and the notarial verbiage was always off (I had the sense to attach the correct notary public doc) the bigger problem was using the script-presentation that made me seem like a representative of the company, so I changed that verbiage because I didn’t feel comfortable - I told them I would not be classified as a “representative”. The fee was only $55 back then but I was new and needed the experience, I was told the maintain the docs and shred them once I heard back from the company. I never heard back from the company. They paid within 30 days, so I shred the docs then. I did gain experience however…never will I do debt consolidation signings.
If you do decide to take them be sure you apply all your Notary Public skills. Can’t say what you should charge, that is your call, be sure you are aware of the cost to print, drive/travel, present, notarize.
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I had one assigned but decided not to do it when I read everything. I told them I wanted to stay with loan signings and this was not one of the services I offered. It seemed too much like you were trying to be an attorney. And then don’t give the Signer a copy of docs so they can’t read what they signed??
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I have done quite a few of these and they are no easier than VA loan docs. At first I had a little trouble helping people justify weaseling out of debt that they got themselves into BUT I later concluded that at least they wanted to settle it and not just walk away from it. All that being said I charge $100.00 if they come to my office. If I had to travel a half hour I’d charge $150. to $200. for the service.
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Never leave the house for less than $50.00 and it better be CLOSE. My normal fee is $125 + faxbacks, +files over 125 pages + additional travel time to out of county. I never accept debt consolidation.
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I have seen more and more lowball companies send offers for ridiculous fees. Not only do we print 2 sets, travel, often times scan or fax back and get docs to shipper before closing time. Add to that now we are social distancing, wearing gloves and masks and giving new pens to use and keep and they expect me to take refinance packages for $75 - ridiculous Notarize Inc. and these many emails and texts about 11-35 page loan modifications for $30 (OMG!) seriously. Then there are these app companies (Xome, Timios) that offer 90 + 95 and have 175 page packages - NO WAY. The notaries that want to jump on those feel free because I delete them ALL and I get many direct calls from Title companies offering 125-175 and guess what - they usually pay within a week. I am just sick and tired of lowball companies and now that my personal cost for each signing has increased because of COVID - my fees have also gone up. In addition to the higher personal cost per signing I am putting my health at risk every time I go into a new signing location while you sit in your office collecting most of the fee.
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$50 per hour of time spent is my absolute minimum …includes printing travel and signing …btw i dont do those debt consolidation with the script anymore. I did one …two more cancelled before i left one before i printed … won’t touch them anymore
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PLEASE DO NOT DO DEBT CONSOLIDATION DEALS. PERIOD. OUT OF STATE DEBT COMPANIES I.M.O ARE SWEET TALKING CON ARTISTS.
LOCAL NON PRODIT DEBT CONSOLIDATION AGENCIES EXIST.
I REFUSE THEM OUTRIGHT
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