Last week, I published an article titled: Are Your Mechanics Lien Rights The Best It Gets When Time To Collect A Debt? It was inspired by a quote from Texas construction attorney Joe Virene, who when reviewing personal guarantees and joint check agreements on his blog, stated that while these other remedies are “nice” to have, “it is not a substitute for lien or bond claim rights.”
The quote got me thinking about the alternatives to a mechanics lien filing. We always talk about why the mechanics lien document is a great remedy and how it works to get companies paid, and we also talk about the alternative credit management remedies (because they are important). Nevertheless, we hadn’t ever looked at the set of collection tools out there and examined why they are just not quite as good as the mechanics lien or security instrument remedy.
That’s what the above-linked article does, and it inspired me to create a presentation on the same, which is embedded from the Levelset SlideShare account above.