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Old 07-29-2015, 09:44 AM   #21
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Doesn't surprise me at all. I'd probably post on the community/church FB page and call it even. I don't have to live there so it's easy to be a real butt head. Maybe a bill with "WWJD" hand written on it.
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Old 07-29-2015, 09:48 AM   #22
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Originally Posted by athena53 View Post
....... It turned out he was upside down on the car loan...............
Cars depreciate so fast that I think being upside down on your car loan is pretty common. Isn't there gap insurance specifically for this?

To the OP, I'd pursue it on principle. If this guy screwed you, he probably does it on a regular basis. Consider it a service to humanity to burn his ass.
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Old 07-29-2015, 10:26 AM   #23
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Was an estimate of costs requested prior to completing the work?
I was going to ask the same question.
If you are going to charge someone $100/hr you should let them know that before so they can find someone charging a reasonable amount instead. I'd be pissed if I got charged $100/hr by anyone other than a surgeon.
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Old 07-29-2015, 11:09 AM   #24
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Cars depreciate so fast that I think being upside down on your car loan is pretty common. Isn't there gap insurance specifically for this?
Yes, there is. Apparently he didn't have it so he figured that the insurance company should pay him what he owed on the loan, not what the car was worth. My feeling is that if you' have any financial smarts, you either understand you're taking that risk, or buy gap insurance to cover it, or else don't borrow so much on the car in the first place.
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Old 07-29-2015, 11:31 AM   #25
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What is a "faith based financial advisor"?
Here in Wisconsin, Thrivent is a big operation that mixes faith and finance. I think they were founded by Lutherans (Wisconsin Synod, I'd guess) but judging from their website, they're striving to be more ecumenical.
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Old 07-29-2015, 01:25 PM   #26
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I was going to ask the same question.
If you are going to charge someone $100/hr you should let them know that before so they can find someone charging a reasonable amount instead. I'd be pissed if I got charged $100/hr by anyone other than a surgeon.
He knew that we charge $75.00 per hour from the start not the $100.00 that you are implying. It is impossible to give someone a quote before we start a service call type of project. We are there to fix a problem and there is no amount of experience or a manual (like mechanics use) or a computer program to tell us what's wrong and what parts we will need and how long it will take to fix it. We have to get our tools out and start trouble shooting until we find it. At this point a rough estimate could be given but one wasn't requested nor is it typically requested.

I wish I lived in a world where $100.00 per hour was out of the question but sadly $100.00 is more common than you realize. Have you taken your car to a mechanic lately? Our local dealerships charge in excess of 100.00 per hour for a mechanic. The smaller independent shops charge around $85.00. Plumbers charge right around $90.00. How about your accountant, what do they charge? You must be pissed off a lot!

I just paid a doctor bill where the doctor saw me for less than 3 minutes. We just talked, he never even touched me and the bill came to $267.00. Apparently he charges $89.00 per minute. This was just a family doctor so your thoughts of paying a surgeon $100.00 per hour is
never going to happen. As a matter of fact I had a back surgery a few years back and the bill was $22,879.00. I was in the operating room for about two hours so he charged me $11,439.50. A far cry from $100.00 per hour.

When this topic comes up I always get a kick out of how people all want to make huge salaries but nobody wants to pay anyone else a living wage. I also think that everyone should have to be self employed at some point in their life just so they understand that all of the benefits that they get from their "megacorp" have to be paid for out of the wages they are able to charge out to their customers. It would be a rude awakening for most.

I am not going to pursue trying to collect the outstanding $75.00. I know and understand the principle of it all but it simply is not worth the energy. I have to many good, paying customers that need my service to waste time on this guy. Everyone can rest assured that I nor any of my other service business owner friends will be doing any work for this guy. He drove the final nail in the coffin he just doesn't know it yet.
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Old 07-29-2015, 01:39 PM   #27
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I am not going to pursue trying to collect the outstanding $75.00. I know and understand the principle of it all but it simply is not worth the energy. I have to many good, paying customers that need my service to waste time on this guy. Everyone can rest assured that I nor any of my other service business owner friends will be doing any work for this guy. He drove the final nail in the coffin he just doesn't know it yet.
Sounds like the perfect solution. Thanks for sharing your perspective - you raise a lot of good points.
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Old 07-29-2015, 01:47 PM   #28
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Sounds like the perfect solution.
Yep. I like it.
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Old 07-29-2015, 02:00 PM   #29
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Sounds like the perfect solution. Thanks for sharing your perspective - you raise a lot of good points.
Agree. If you had vastly exceeded the estimate given prior to service, I would think he had a case. But as you describe...kick him to the curb and hope others do likewise.
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Old 07-29-2015, 02:06 PM   #30
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Old 07-29-2015, 02:08 PM   #31
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Originally Posted by aaronc879 View Post
I was going to ask the same question.
If you are going to charge someone $100/hr you should let them know that before so they can find someone charging a reasonable amount instead. I'd be pissed if I got charged $100/hr by anyone other than a surgeon.
I was charged $110 per hr by a crane and operator last week. He estimated it would take 3 to 4 hours. It took more like 11 hours. Including travel time, I paid him $1300. It was well worth the money.

Have you paid for a plumber lately?
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Old 07-29-2015, 02:33 PM   #32
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He knew that we charge $75.00 per hour from the start not the $100.00 that you are implying. It is impossible to give someone a quote before we start a service call type of project. We are there to fix a problem and there is no amount of experience or a manual (like mechanics use) or a computer program to tell us what's wrong and what parts we will need and how long it will take to fix it. We have to get our tools out and start trouble shooting until we find it. At this point a rough estimate could be given but one wasn't requested nor is it typically requested.

I wish I lived in a world where $100.00 per hour was out of the question but sadly $100.00 is more common than you realize. Have you taken your car to a mechanic lately? Our local dealerships charge in excess of 100.00 per hour for a mechanic. The smaller independent shops charge around $85.00. Plumbers charge right around $90.00. How about your accountant, what do they charge? You must be pissed off a lot!

I just paid a doctor bill where the doctor saw me for less than 3 minutes. We just talked, he never even touched me and the bill came to $267.00. Apparently he charges $89.00 per minute. This was just a family doctor so your thoughts of paying a surgeon $100.00 per hour is
never going to happen. As a matter of fact I had a back surgery a few years back and the bill was $22,879.00. I was in the operating room for about two hours so he charged me $11,439.50. A far cry from $100.00 per hour.

When this topic comes up I always get a kick out of how people all want to make huge salaries but nobody wants to pay anyone else a living wage. I also think that everyone should have to be self employed at some point in their life just so they understand that all of the benefits that they get from their "megacorp" have to be paid for out of the wages they are able to charge out to their customers. It would be a rude awakening for most.

I am not going to pursue trying to collect the outstanding $75.00. I know and understand the principle of it all but it simply is not worth the energy. I have to many good, paying customers that need my service to waste time on this guy. Everyone can rest assured that I nor any of my other service business owner friends will be doing any work for this guy. He drove the final nail in the coffin he just doesn't know it yet.
In the first post you said $400 for 4 hours. I didn't notice that included parts in addition to labor. I haven't been to a dealer for a while but they were charging $80/hr a few years ago. I go to a guy who works out of his home garage and charges around $20/hr. He was a mechanic at a dealership for 30 years so he knows what he's doing he just charges a more reasonable price.

I worked very hard for 11 years in a factory up until 2011 and the most I ever made was $17.40/hr. I just don't think it's reasonable for people to make 4+ times the money for no extra work. Now i'm self employed working part time. I make $15-20K/yr. The most I ever made in my life was $49K in (I think) 2009.
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Old 07-29-2015, 03:51 PM   #33
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Isn't it kind of ironic that a person who charges way to much money for doing way to little work would actually pull a stunt like this?
How much does this advisor charge that you describe it as "to much money for doing way to little work?"

Not to trivialize the 75 bux your customer refuses to pay, but I'm assuming that since this is apparently a huge deal for you, your bill collection efficiency must be near 100%. In our area, service people don't do nearly that well, more like 90% based on comments service business owning friends have made. My buddy in the HVAC business writes off in excess of 10% of his accounts payable every year and plans for it.

To have this single incident be a major event for you would make you a lucky guy doing business in an area with a reliable paying customer pool. You'll be smart if you take a deep breath and keep this in perspective.
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Old 07-29-2015, 04:24 PM   #34
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Here in Wisconsin, Thrivent is a big operation that mixes faith and finance. I think they were founded by Lutherans (Wisconsin Synod, I'd guess) but judging from their website, they're striving to be more ecumenical.

I would rather they strived to be more economical!
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Old 07-29-2015, 06:07 PM   #35
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I was charged $110 per hr by a crane and operator last week. He estimated it would take 3 to 4 hours. It took more like 11 hours. Including travel time, I paid him $1300. It was well worth the money.

Have you paid for a plumber lately?

Just today... (I know I am not the person who said they would not pay that rate, but just wanted to tell the info).....

First, they charge $90 per hour with a one hour minimum and an $50 trip charge...

I also had to pay for him to go to the plumbing store to buy a toilet hose that had a flare... seems nobody carries them anymore (guy at HD said they were illegal).... that was an additional 40 minutes.... BTW, they charge in 15 minute increments... he was there 2 minutes before the hour and charge from the 45 minute of the previous hour....
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Old 07-29-2015, 06:09 PM   #36
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In the first post you said $400 for 4 hours. I didn't notice that included parts in addition to labor. I haven't been to a dealer for a while but they were charging $80/hr a few years ago. I go to a guy who works out of his home garage and charges around $20/hr. He was a mechanic at a dealership for 30 years so he knows what he's doing he just charges a more reasonable price.

I worked very hard for 11 years in a factory up until 2011 and the most I ever made was $17.40/hr. I just don't think it's reasonable for people to make 4+ times the money for no extra work. Now i'm self employed working part time. I make $15-20K/yr. The most I ever made in my life was $49K in (I think) 2009.

You fail to realize how much they have to charge the customer in order to pay you that $17 per hour....

There are benefits... front office, buildings, insurance etc. etc... Your real cost to the company was probably 3X what you made... and BTW, they want to make a profit on you also....
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Old 07-29-2015, 06:24 PM   #37
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How much does this advisor charge that you describe it as "to much money for doing way to little work?"

Not to trivialize the 75 bux your customer refuses to pay, but I'm assuming that since this is apparently a huge deal for you, your bill collection efficiency must be near 100%. In our area, service people don't do nearly that well, more like 90% based on comments service business owning friends have made. My buddy in the HVAC business writes off in excess of 10% of his accounts payable every year and plans for it.

To have this single incident be a major event for you would make you a lucky guy doing business in an area with a reliable paying customer pool. You'll be smart if you take a deep breath and keep this in perspective.
I have maintained throughout this whole story that I do not intend to go after my money and that it is not worth the time or energy to do so. I simply thought that people would get a kick out of hearing a story about how a financial advisor beat me out of my wages because in most threads that I read here are blasting FA's for charging their percentage for providing their service.

Why is it that you think this is a major event for me?
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Old 07-29-2015, 06:28 PM   #38
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Have you paid for a plumber lately?
.

I have. Nothing major but i've had a plumber come by 3 times in the last couple years. They were here about 15-20 minutes each time and charged me $30-40. They came from about 20 miles away so travel alone, round trip, was an hour or so. I paid cash so they didn't have to do an invoice or give a receipt. I'm sure that helps to get a lower price. Most plumbers would probably charge $80 or so just to show up. It's all about finding the right person. Some are willing to charge more reasonable rates.
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Old 07-29-2015, 07:34 PM   #39
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.

.......It's all about finding the right person. ........
You've got that right. My plumber is on staff and he doubles as my financial adviser, plus he mows the lawn.
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Old 07-29-2015, 07:41 PM   #40
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I hear you buddy--I have had clients do the same thing, but I am more assertive on the collection end. I have always gotten paid every penny owed to me by my clients. Sometimes it takes awhile, I send the invoice each month, a few emails and in one case threatened to escalate it up to his client (a consulting gig I had). Every one folded and paid to have me go away! I am nothing if not relentless.

But I also agree you have to find the mountain you are willing to die on--and this doesn't sound like it is for you. The one I was willing to do was $4000 and it was the consulting gig. Amazing how fast that one got paid when I opted to stop being nice and got in the mud with him!

Good luck!
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