Bad factoring deals trap truckers – our latest podcast

Some specific finance companies are preying on small hauliers, trapping them in deals and factoring deals that can be very damaging financially – and impossible to get out of. We’ll find out what’s going on and how to handle it from Jim Jefferson and Tom Crowley of OOIDA’s Business Services Department.
Listen to our full show
Some specific finance companies are preying on small hauliers, trapping them in deals and factoring deals that can be very damaging financially – and impossible to get out of. Additionally, the St. Christopher Truckers Relief Fund has a program called “Rigs Without Cigs.” There are a number of decisions you need to make after getting a ticket. One of the first should call a lawyer. Next is whether to fight it. And physical damage coverage isn’t required by law, so you might be inclined to say no when your insurance agent asks if you want it. But there are reasons to have it.
Platforms without cigarettes
The St. Christopher Truckers Relief Fund has started a program called “Rigs Without Cigs”. We will hear from the fund’s health and wellness manager, Julie Dillion.
What do you do first when you get a ticket?
There are a number of decisions you need to make after getting a ticket. One of the first should call a lawyer. Next is whether to fight it. Road Law’s Jeff McConnell and James Mennella explain.
Physical damage – not required, but likely necessary
Property damage coverage isn’t required by law, so you might be inclined to say no when your insurance agent asks if you want it. But you’ll think twice after hearing from the experts at OOIDA’s truck insurance department, who will tell us which physical damage policies are worth it.
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Links, email addresses, phone numbers and more information
- The St. Christopher Truckers Relief Fund offers the Rigs Without Cigs program to help truckers quit smoking. You can register for the program on the St. Christopher’s Fund website.
- If you are having trouble with a factoring company or want advice, call OOIDA Business Services at 816-229-5791.
- You can get more information from Road Law here or email here.
- Learn more about OOIDA’s truck insurance program here.
- As OOIDA approaches its 50th anniversary, they seek to document members. This includes why they are part of the organization and why it matters to them. Stop by the main OOIDA booth at MATS and let someone know you’d like to do a testimonial. It’s in the center of the back of the north wing.
- OOIDA is hosting a town hall meeting at MATS at 1:00 p.m. on Friday, March 25 in room C108 to discuss current issues in the trucking industry. All truckers are welcome.
- Find out how to listen to Land Line Now on TNC Radio.
- You can donate to the Truckers for Troops fund all year round.
- OOIDA has an online resource to provide access to information needed to operate in the coronavirus pandemic. Click on the COVID-19 menu at the top of the page on the Land Line Media website.