Good morning all! I wanted to give a heads up about a signing service through Snapdocs called Daddle Signing Services (aka College Closers).
This company is not one that you may want to work with. I am now waiting for payment at 56 days past due! I really hate doing this but don’t want others to get caught up in something like this. The interesting part is the signing was through Snapdocs who I have reached out to now “3” times regarding payment because it was set up through vendor pay (direct deposit). I am reaching out to the title company next. I am sending everyone past due notices. Then I am filing theft of services.
I have to say that Snapdocs is now too beginning to let things slip. They are slacking on follow up, you (as a notary) don’t have anyone to speak to directly because they hold that benefit for title companies, lenders etc. Notaries just have to email them. Do they realize that notaries are the backbone of their services? I am noticing more of these small signing services popping up and they don’t seem to know or understand how to run a business. I had this issue with another company that I finally got payment on, after they sent payment late and then lied about how the payment was sent (they used bill pay and gave me an excuse about their accounting department).
Thank God I have work with some title companies, builders and other signing services that pay timely and know my work.
At any rate do not take signings from Daddle closing services as they do not pay at all or on time.
While I still have a listing on Snap Docs, I turned off notifications a long time ago. They pay too little or are too far away. I’m not that desperate.
I didn’t say you were desperate, I say I am not that desperate. Please don’t put words in my mouth.
The highest I ever see on SnapDocs is $85; many more are $50-80 for purchases and refis. “I” am not that desperate.
I will put the words in your mouth… we are desperate we want all the signings AND we want to be paid on time. I’ll take a $40 or a $15 signing… unlike some, desperation feeds families, ingenuity, talent and in some cases sincerity.
@naomI & all Notary Cafe members new to this business sector . . .
When accepting a Signing Order [SO], for your own financial livelihood, you owe it to yourself to perform the due diligence of calculating the Costs of Providing Your Professional Services.
Here is a thread that you’ll find insightful as well as helpful for performing your own calculations:
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If on the other hand, you happen to be not-so-great with numbers . . . reach out to a friendly local tax preparer/CPA for insights into your business possibly being categorized as a hobby due to repeated years of negative revenue generation.
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Employing self-delusion with regard to balancing a business budget (see equation below) could easily yield a bankruptcy result . . .
Total Income/Revenue Generated
minus
Costs of Providing Professional Services
minus
Operating Expenses (marketing, rent, equipment, supplies, payroll, insurance, vehicle maintenance, turnpike fees, ferry fees, parking expenses, etc. => see a more comprehensive listing in the referenced thread [above]).
minus
Licensing Expenses
minus
Federal, State, & Local Taxes
minus any additional expenses . . . (*tax experts please chime in here*)
Equals Net Profit
It’s important to track & record all expenses for the day-to-day operations to ensure accurate calculation of the business’ financial performance.
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Of course, one can choose to operate at a loss if they’re in a largesse or philanthropic frame-of-mind
When operating at a loss, in essence you’re paying them for you to provide the professional services.
We have custom fields added for “Source (ie; Snapdocs, direct, etc), Title Company, & Payment Terms” added to our Notary Gadget template settings. I have Payment Terms set to print on the invoice, so that they are aware that I read the TOS & know when they were supposed to pay.
