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Good Evening,

Long story short....

I realized a month ago that a company I was contracting with owed me a shade under $2000 in unpaid invoices. I brought this to their attention and they told me they would get back to me in a few days. Fast forward a month I get an email telling me that they'll pay me $300 because they are out of business. Yes or no. I said that for me to accept that amount I need a payment invoice showing a check number (to check against my bank statement), amount, and date paid. This company tells me no. I respond with I'll see you in small claims court and I will be putting liens on all properties where payment is owed.

About a 1/2 hour later I get a message asking if I will take the $300 or not. I'm thinking of countering with $1000 and we're good.

What do you guys think?

Thanks,
 
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All or nothin there gettin over on you. You stick to your guns and lien your work. Sounds like there feelin you out to see if you are real about lien.. :rolleyes:
 
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I would guess you will get stuck in the end due to them going bankrupt.:rolleyes: That really sucks hope you get what is owed to you but I wouldn't count on it.
 

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From what you have written it sounds like they may not be completely out of business. If they were, what is the point of them paying you anything? Leining the properties should make no difference to a company that no longer exists. We would take what they have to offer and lein the props for the rest.
 
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GTX63 said:
From what you have written it sounds like they may not be completely out of business. If they were, what is the point of them paying you anything? Leining the properties should make no difference to a company that no longer exists. We would take what they have to offer and lein the props for the rest.
If you choose to take this path, I would consult with a lawyer to make sure that it is done in a manner that allows you to enforce your rights for the remaining balance owed.

Because how I read this is that they are offering to SETTLE with you for $300.00. They are probably going to want you to sign something relinquishing them from having to pay the rest, therefore eliminating your ability to enforce your rights via a lien.
 

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Yes, you should check the laws regarding settlement and lein rights in Minnesota. If you can afford to live without the money in the mid term, however, and you have good pro contractor lein regs, then it wouldn't be a bad idea to file against the properties. Someone will eventually buy them up and you'll get your $$ from the lender.
 

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72opp said:
Good Evening,

Long story short....

I realized a month ago that a company I was contracting with owed me a shade under $2000 in unpaid invoices. I brought this to their attention and they told me they would get back to me in a few days. Fast forward a month I get an email telling me that they'll pay me $300 because they are out of business. Yes or no. I said that for me to accept that amount I need a payment invoice showing a check number (to check against my bank statement), amount, and date paid. This company tells me no. I respond with I'll see you in small claims court and I will be putting liens on all properties where payment is owed.

About a 1/2 hour later I get a message asking if I will take the $300 or not. I'm thinking of countering with $1000 and we're good.

What do you guys think?

Thanks,
If a company is going bankrupt, it is normal for them to attempt to settle first, but those disclosures are usually sent out by their attorney. They aren't protected by a bankruptcy stay until they pay their retainer fee in full. They would then be given a case# and you'd have to follow up with the attorney. Check to see your options. Depending your your state, you could place a lien and then national and or bank would have to pay you anyways.

Personally, I would go for it all. After all, you did all the work. Call their bluff. Demand payment in full.
 

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The way I see it, you are losing big time if you accept the $300.00. I know is sucks but if you could stand to be out the $300.00 I would tell them no and that you are liening the properties. Even if they do go out, the properties still belong to somebody and they will not be able to sell until they take care of it. Just make sure you have a lawyer do it so that you are protected.
 
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Discussion Starter #9
Has anyone ever put a lein on a property that ZVN didnt pay on ???
 

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XLARGEX said:
Has anyone ever put a lein on a property that ZVN didnt pay on ???
ZVN? Lol. Please share your experiences. I hope that haven't ripped you off too bad yet. Have Chris put down his rock.
 
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thanohano44 said:
ZVN? Lol. Please share your experiences. I hope that haven't ripped you off too bad yet. Have Chris put down his rock.
A friend that works with me did about 30k in approvals and is owed about 25k 2 months later
 

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XLARGEX said:
A friend that works with me did about 30k in approvals and is owed about 25k 2 months later
Start leining those properties and don't even discuss it with ZVN till the liens have been placed. I'm sure by now he has exhausted all collection efforts right? Besides, Jackie C in accounting won't give a straight answer and rush him off of the phone right?
 
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thanohano44 said:
Start leining those properties and don't even discuss it with ZVN till the liens have been placed. I'm sure by now he has exhausted all collection efforts right? Besides, Jackie C in accounting won't give a straight answer and rush him off of the phone right?
They owed 30k sent him 5k last week but he's getting ready to lein them
 

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Quick question. Is ZVN the company that is going bankrupt? Is it also the same company that the O/P posted about?

Linda
 

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I've done $35,000 worth of work for ZVN and I've been paid $14,000 so far. I only have 2 trip charge invoices with them that are over 60 days old. I don't have any problems with them.
 

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a1propertyclean said:
Quick question. Is ZVN the company that is going bankrupt? Is it also the same company that the O/P posted about?

Linda
Linda,

As far as I know, they're not the ones going bankrupt. I do know that they've lost all the work they did on the west coast. Poor turn around times. Contractors refusing to do work until paid.
 
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