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can i add penalties and interest on my lien?

Colorado

I did work for a homeowner and still have a balance due seeing what i can add to my lien for the extra work required for payment?

1 reply

Apr 19, 2023

If your contract does not specify interest, you can add the statutory default rate of 12 percent per annum.

Hire a construction attorney to include default terms like collection costs, higher interest, attorney fees, and on and on. The cost of an attorney to draft the contract is a fraction of what you will make and save long term. 

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