MCS Pay Cycle - REO Property Preservation Forum
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post #1 of 38 (permalink) Old 07-09-2016, 10:10 AM Thread Starter
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MCS Pay Cycle

I do work for someone as a sub to MCS and I think she is screwing with the payroll. Is anyone a MCS contractor that could post their pay cycles for 2016, or send it to me in a private message?

thanks
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post #2 of 38 (permalink) Old 07-09-2016, 10:53 PM
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Didn't they always publish a sheet showing the pay cycles? Didn't they send one for 2016? If not, Gosh- I can't imagine why

I do know that they are reeeaaaaalllllyyyyyy slow pay this year according to a buddy that works for them. Probably because they are low on cash since they lost so many contracts over the winter.

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post #3 of 38 (permalink) Old 07-10-2016, 12:42 PM
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Didn't they always publish a sheet showing the pay cycles? Didn't they send one for 2016? If not, Gosh- I can't imagine why

I do know that they are reeeaaaaalllllyyyyyy slow pay this year according to a buddy that works for them. Probably because they are low on cash since they lost so many contracts over the winter.
MCS has major capital. They have a very financially healthy holding company to back up their every move.
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post #4 of 38 (permalink) Old 07-10-2016, 01:10 PM
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Originally Posted by madxtreme01 View Post
I do work for someone as a sub to MCS and I think she is screwing with the payroll. Is anyone a MCS contractor that could post their pay cycles for 2016, or send it to me in a private message?

thanks
Shaking my head!!! you have been here long time you know better than this
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post #5 of 38 (permalink) Old 07-10-2016, 02:47 PM
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MCS has major capital. They have a very financially healthy holding company to back up their every move.
Let's rephrase that- once a holding company sees an eminent failure with one of the companies that they maintain assets for, they will begin to shift from payment to protection of assets in order to maintain as much capital asset as possible. So, in essence, MCS's holding company isn't short on cash, MCS is, because the holding company has deemed them placed into possible future failure status.

That's the point of a holding company, that's why they exist- to make sure a failing company that is under them doesn't spend all of their money. In the case of MCS, it isn't "backing up" as much as "make sure we don't spend all of this money"

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post #6 of 38 (permalink) Old 07-10-2016, 06:47 PM
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MCS has major capital. They have a very financially healthy holding company to back up their every move.
In July 2015 Moody's rating for MCS was B3. B3 is 16th (low end) out of the 21 ratings given. The B3 rating was given with the assumption that MCS would keep or gain more of it's share of the market. They are 360 million in debt.

That is a bad report card 12 months ago. With all they have lost in the last year I don't see any way they are financially healthy.
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post #7 of 38 (permalink) Old 07-10-2016, 09:27 PM
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Safeguard probably paid for MCS's Moody's rating. LOL!

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post #8 of 38 (permalink) Old 07-10-2016, 09:32 PM Thread Starter
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this post went into a completely different direction than i was looking. I always get paid, it just seems that it's never on the same day. For the beginning of this year it was always on the 5th and the 20th and now I received my last cycle on the 9th and when I questioned her, miraculously the deposit hit that morning, but I'm sure it was deposited prior to the holiday. I also have about 100 invoices unpaid from April and May. I was told that she was forwarding the outstanding list to them and they have 30 days to respond. I'm not sure that I believe it and I'm ready to call MCS myself to get to the bottom.
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post #9 of 38 (permalink) Old 07-11-2016, 10:38 AM
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So, you get to deal with the crap from MCS as well as the group you sub from. You know crap rolls down hill, and you're poised at the bottom, mouth wide open. I don't even think you could call this the short end of the stick. It's more like a splinter, an a VERY uncomfortable, no sun shining, place. I'd like to say that you should know better but that would be a lie.
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post #10 of 38 (permalink) Old 07-11-2016, 12:21 PM
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this post went into a completely different direction than i was looking. I always get paid, it just seems that it's never on the same day. For the beginning of this year it was always on the 5th and the 20th and now I received my last cycle on the 9th and when I questioned her, miraculously the deposit hit that morning, but I'm sure it was deposited prior to the holiday. I also have about 100 invoices unpaid from April and May. I was told that she was forwarding the outstanding list to them and they have 30 days to respond. I'm not sure that I believe it and I'm ready to call MCS myself to get to the bottom.
This is very bad, as a former MCS vendor for years there was never a problem with the 2 week pay cycle, I mean never. The problem was the invoice cuts and of course the chargebacks which is why I terminated my service agreement. You most definitely should contact MCS accounting dept. and advise the company who is the vendor how you are moving forward. Always keep in mind these guys are crooks. Absolutely no one on this board can convince me otherwise. I wish you the best of luck !!!
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