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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.
Whether you operate in or outside Massachusetts, if your customer to whom you had provided goods or rendered services on credit is located in Massachusetts and is not paying off your debt, then get in touch with our experienced and aggressive debt collection lawyer, Alan M. A mechanics lien serves like collateral. Cohen, today.
Construction is not one of those professions. Construction workers work hard, and their results are easily quantifiable. There are times when even though the work is clearly complete, construction workers or subcontractors struggle to get payment for their work. There are some professions where work is hard to quantify.
Unfortunately, those in construction come across builders, developers, or owners who are unwilling or unable to pay their bills. A mechanic’s lien may offer those owed a viable solution for collection. Cohen LLC, we can promptly and properly prepare and enforce a mechanic’s lien to help you get paid.
A general contractor on a construction project has direct contact with the project manager, owner, or developer running the project. This can create challenges when it comes to subcontractor debt collection. This can create challenges when it comes to subcontractor debt collection. Our client was able to settle their claim.
A general contractor on a construction project has direct contact with the project manager, owner, or developer running the project. This can create challenges when it comes to subcontractor debt collection. This can create challenges when it comes to subcontractor debt collection. Our client was able to settle their claim.
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 commercial collections attorneys have more than 50 years of combined experience. Mechanic’s liens and payment bonds are two powerful options available under Massachusetts law.
For those in industries filled with chronically late payors, it can be difficult to know when the right time to send a client to collections is. You may worry that by placing your customer in collections, you will lose the “relationship.” So how do you know when it’s time to send your client to collections?
If you are unlucky enough to have done business with construction companies or property owners who seem to be rolling in cash, but never have time to pay, you’ll soon find out the importance of a mechanic’s lien in Massachusetts in debt recovery. Your industry is the only one with this type of collection tool, and it works very well.
The five industries (in accordance with SIC 2007) that experienced the highest number of insolvencies in the 12 months to March 2024 were: construction (4,274, 17% of cases with industry captured), second was wholesale and retail trade; repair of motor vehicles and motorcycles (3,825, 16% of cases with industry captured).
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.
Suppliers, contractors and subcontractors, especially those in the construction industry, know this all too well, as they can often be strung out waiting for their compensation after completing work for the project for which they were hired. But who is eligible for a mechanic’s lien? The Importance of a Written Contract.
Realistically, you know that you may not be able to collect as much money as you had hoped, and their actions could limit your recovery significantly. We have over 45 years of combined legal experience in collection law. These are just a few of the many options you have for debt collection before a bankruptcy filing.
The Massachusetts Mechanic’s Lien Statute is a law that helps safeguard contractors’ and suppliers’ “investment” in a construction project’s improvement. Mechanic’s Lien—What is it and How Does it Work? A mechanic’s lien is a statutorily-created lien against the construction property.
A mechanic’s lien is a powerful debt-collection tool for businesses in the construction industry. One of the requirements to file a mechanic’s lien is that you must have a written contract that is enforceable under Massachusetts law. What constitutes a contract for a mechanic’s lien? At Law Offices of Alan M.
If you own a large construction company, you are familiar with mechanic’s liens. They are a powerful tool given by statute to certain actors in the construction industry, and they’re the only type of property lien that doesn’t require a judge’s approval. We don’t have to learn collections or look up the statutes.
Therefore, as a matter of course, it is good business practice for contractors, subcontractors and sub-subcontractors to initiate the procedures for a mechanic’s lien as soon as possible. A mechanic’s lien is an invaluable tool to ensure payment for a construction project. Our mechanic’s lien attorneys at Law Offices of Alan M.
AB 430 , which amends California’s identity theft and debt collection laws. stopping debt collection, civil judgment for identity theft) that formerly required a police report. The post California Passes Suite Of New Privacy Laws appeared first on Collection Industry News.
Construction projects had to slow down and the change in timelines made completion more difficult. Construction projects were not the only things slowed down by the pandemic — even the court system had to change how it functioned. What changed? The COVID-19 pandemic had a huge impact on how we do business.
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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.
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