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Contractors and subcontractors often use mechanic’s liens to help them secure payment, but architects often do their work even before the builders break ground. Can you still file a mechanic’s lien when you are not paid for your work? We have nearly 50 years of combined experience representing businesses in debt collection.
In today’s volatile marketplace, the existence of a personal guarantee may provide the only viable basis for collecting outstanding receivables from a corporate obligor experiencing financial difficulty. A provision for the recovery of collection expenses and attorney’s fees should be inserted.
When you’re struggling to collect on a business debt, sometimes, you need to rely on effective tools and creative strategies. Our aggressive and relentless commercialcollections attorneys have more than 50 years of combined experience. What is a mechanic’s lien? What is a payment bond?
As a subcontractor on building projects, you may be familiar with the concept of a mechanic’s lien, but do you know the best way to use one to protect your interests? What does a mechanic’s lien do for you? A mechanic’s lien is a lien on the physical property you are working on.
If you have a customer who has not paid their bill, you might be wondering how long you have to collect on it. Perhaps you have tried to collect on your own to no avail and you are wondering what steps you should take next. In Massachusetts, all general debts have a six year statute of limitations on them for collection.
Collecting on bad debt is never as simple as it sounds, especially with commercial debt. In order to meet these requirements, you will likely need the help of aggressive, experienced commercialcollection attorneys like those at Law Offices of Alan M. One type of asset may be the debtor’s own accounts receivables.
A mechanic’s lien gives builders, contractors and some others in the construction industry a collectionmechanism that other industries don’t have. Ultimately, the lien could allow you to sell the property to collect the debt. The courts are strict in their interpretation of the mechanic’s lien requirements.
Before a business owner can file a mechanics lien for an unpaid construction or building debt, they must first establish a contract by filing a notice of contract. What is a notice of contract and why do you need it for a mechanics lien? What are the requirements of a mechanics lien? At Law Offices of Alan M.
Conclusion Forbearance serves as a vital mechanism in the financial landscape, offering temporary relief to borrowers while providing lenders with an alternative to pursuing default remedies. Borrowers should seek legal counsel to fully understand the implications and ensure that the agreement aligns with their financial recovery plans.
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