LAMCO is 90 days PLUS out to PAY - REO Property Preservation Forum
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post #1 of 14 (permalink) Old 08-07-2012, 09:27 AM Thread Starter
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LAMCO is 90 days PLUS out to PAY

just talked to lamco rep and they have had a parting of ways with AMS and are now 90 PLUS days out for invoice payment .


UNBELIEVABLE

I bet these clowns have a literal kineption fit when they don't get paid from their clients within a timely manner.

THE PRICE JUST TRIPLED because of having to finance their operations and interest costs
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post #2 of 14 (permalink) Old 08-07-2012, 10:18 AM
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jUST CURIOUS, CAN YOU RAISE YOUR PRICE WITH INTEREST DUE TO NON-PAYMENT?
post #3 of 14 (permalink) Old 08-07-2012, 10:19 AM
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sorry about the vaps... I forgot it was on :/
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post #4 of 14 (permalink) Old 08-07-2012, 10:34 AM Thread Starter
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Quote:
Originally Posted by kninegirl
jUST CURIOUS, CAN YOU RAISE YOUR PRICE WITH INTEREST DUE TO NON-PAYMENT?
Not that I am aware of . It is a bid system so once the work is performed and invoiced it is the invoiced price . I should have said, going forward the price is gouing to triple ...

you can caps me all you want NO worries

kninegirl sorry for my part in the moderators shutting down your intro, I think they were over zealous, but thats my opinion.
Everybody I say "Thats MR. XX to you " crack up.
Perhaps they were having a bad manapaws day ??

If you work for lamco just watch your invoice aging and become the squeeky wheel after 90 days. I'd hate to be in THEIR accounting department. I try to make them laugh or want to answer the phone when they see it is me and I further realize they ( the employees in accounting ) are just doing their job as directed, I belive they would pay out before 90 days if they were authorized to do so.

WOOF
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post #5 of 14 (permalink) Old 08-07-2012, 10:43 AM
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That's one of those "ebb and flow" factors that inexperienced business owners get out of a book.

They tell you that the best way to manage your cash flow is to get your money as soon as you can and then delay paying anyone for as long as you can. But what they don't tell you is that it can mess up a perfectly good relationship with a vendor.

I had a similar situation where they didn't send my invoice to the accounts payable dept until after 90 days but when I wanted to retain their services, they told me, "We need the full payment in advanced."

That was the last time I would ever do any work for them again.
post #6 of 14 (permalink) Old 08-07-2012, 03:35 PM
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Quote:
Originally Posted by splinterpicker

Not that I am aware of . It is a bid system so once the work is performed and invoiced it is the invoiced price . I should have said, going forward the price is gouing to triple ...

you can caps me all you want NO worries

kninegirl sorry for my part in the moderators shutting down your intro, I think they were over zealous, but thats my opinion.
Everybody I say "Thats MR. XX to you " crack up.
Perhaps they were having a bad manapaws day ??

If you work for lamco just watch your invoice aging and become the squeeky wheel after 90 days. I'd hate to be in THEIR accounting department. I try to make them laugh or want to answer the phone when they see it is me and I further realize they ( the employees in accounting ) are just doing their job as directed, I belive they would pay out before 90 days if they were authorized to do so.

WOOF
Imho I would lien by day 75 or 80. Ninety days is unacceptable.
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post #7 of 14 (permalink) Old 08-07-2012, 03:43 PM Thread Starter
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Originally Posted by SwiftRes
Imho I would lien by day 75 or 80. Ninety days is unacceptable.
I hear ya I have looked into this but here in the "Wild West" you cant lien after 30 days complete. Trust me these fools are going topay.

they are talking about going to 150 days payment.

unless they get their finances under control a postage stamp lot will be 150 per cut with NO discount

CFS cant fix stupid
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post #8 of 14 (permalink) Old 08-07-2012, 03:45 PM
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I bet if they just started charging $500 for a contractor to sign up with them, it'd solve all of their financial woes.

Quote:
Originally Posted by splinterpicker
I hear ya I have looked into this but here in the "Wild West" you cant lien after 30 days complete. Trust me these fools are going topay.

they are talking about going to 150 days payment.

unless they get their finances under control a postage stamp lot will be 150 per cut with NO discount

CFS cant fix stupid
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post #9 of 14 (permalink) Old 08-07-2012, 03:55 PM Thread Starter
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Quote:
Originally Posted by SwiftRes
I bet if they just started charging $500 for a contractor to sign up with them, it'd solve all of their financial woes.
That would be the defenition of bankrupt. They already try to work that angle, paying to sign up that is .
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post #10 of 14 (permalink) Old 08-07-2012, 04:22 PM
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With all the warnings given by current and former vendors, including myself, for these scumbags, why in the heck would you have agreed to do work for them? Good luck and hopefully this is a lesson learned. Unfortunately, the best lessons in life are usually the most costly...



Quote:
Originally Posted by splinterpicker
just talked to lamco rep and they have had a parting of ways with AMS and are now 90 PLUS days out for invoice payment .


UNBELIEVABLE

I bet these clowns have a literal kineption fit when they don't get paid from their clients within a timely manner.

THE PRICE JUST TRIPLED because of having to finance their operations and interest costs
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