What comes after a Mechanic's lien in the state of Colorado. We have the Mechanics lien, but now what do we do to get paid?
If they do not pay, if you want to foreclose on the lien, you
must file a foreclosure complaint in the district court where the real property
is located within six months after the latest of the last day work or labor is
performed, the last day laborers or materials are furnished, or the day the
building, structure, or other improvement is completed. CRS § 38-22-110; CRCP 98(a).
If your services were through your business entity, you must
hire an attorney to file suit. Make sure to give the attorney at least a month
or more before the deadline to prepare to have time to order the foreclosure
guarantee and take other required steps. The amount claimed should be well
above $10,000 for this to make financial sense and I hope your attorney drafted
a contract that includes attorney fees.
Your attorney may also have other remedies and strategies
that could be useful such as disburser notices, trust fund claims, and others.
It depends on your contract and many more facts.
Reach out to an attorney for a consultation. Like most law
firms, we offer a free consultation so reach out to attorneys and discuss your
matter and options.
You have to hire a lawyer to file a lawsuit to timely foreclose on the lien.