We recently inquired partnering up with a invoice factoring company to help with the extreme growth of our company. We were in need of cashflow solutions fast and started the process in December. From December to end of January we paid almost $2k for company fees and underwriting fees. We soon realized that although we had already CLOSED twice with their underwriters, they kept adding restrictions the original term and kept putting our account on hold because we did not want to agree with those added terms; this was done twice and each time they charged us to write up another contract. We finally cut ties with that factoring company and just took the lost of money to not have any relation with them, I also want to add that this process took so long that they actually received a check from one of our customers to their remittance address and ignored us for almost a week on the release of the payment. They only released that check once I threatened to report them to the factoring association.
This factoring company filed a UCC on my company even though they never factored any checks or financed us. We now have been working with another factoring company that has been very helpful in our situation, but we have hit a a stop in the process because the first factoring company does not answer us to release the UCC filed on my company. Our new factoring company was able to get in contact with the first company but they just put excuses in order to not release the UCC (they say they need to speak to me but never call/answer my calls).
Long story short I am stuck now because the first factoring company did not want to fund us, rather robbed us almost $2k, and also doesn't want another company factoring use by holding that UCC. This is hurting the operation of my business and I need to do what ever it takes to not let the first company hold the UCC cause me not to be able to get funded.
Please advise ...Read More
I'm just removing tumbleweeds from properties I do not do any excavation whatsoever we also clean up the trash on the property load up a trailer and haul it to the dump does this require a contractor's license I don't contract I just do it by the hour...Read More
A potential client advised she wanted to o an addition to her existing home (in California) but ended up scraping the project once the permits and compliance issues became 'too much'. I am curious what the remedy is in this case if the contractor had already done a significant amount of pre-construction work. Would the contractor be able to bill for the services provided even though the customer stopped the project? ...Read More
When dealing with an owner who has a hard money loan who refuses to give a deposit on a $130,000 job that has a deadline in 4 months how many payments should I require. These payments would be upon completion of certain portions of the project. They also tried to get me to sign a lien waiver that stated I had been paid and post dated till due date of project. Needless to say I’m not trusting them and want to cover my but as best I can....Read More
We hired a residential contractor/home builder to remodel the master bed and bath and redo the landscaping on an almost 4 acre property located in Rancho Santa Fe, CA.
He has us paying the employer burden for his five employees one being the project manager and the other four doing the work. For example, on a weekly payroll basis we are paying for each employees Social Securty, Medicare, Unemployement, Liability Insurance, employee benefits and Workers comp. In addition to that we are also paying a 10% overhead fee for the entire invoice and 10% contractors fee for the entire invoice. Invoices include payroll, home depot receipts and project equipment rentals, and subcontractors invoices. This does not seem right to me. What do you think about this?...Read More
I am a homeowner and I had hired a friend who is a contractor to remodel our home . He has a business and was not able to work during the corona virus . We hired this contractor and gave him a deposit of 7,000 cash ( he had requested cash ) to buy supplies. and then he came back wanting more money saying he needed to pay bills and we gave him 14,000 . The original estimate / contract is only for between 18.400- 19.400 and we over paid him since the original estimate did not include framing out garage lien to and he do extra framing on a bathroom door. He has now quit working on the home and has threatened to put a mechanics lien unless we pay up another 5,000. We have no signed contract of any kind. We have been asking for a breakdown of the bill of what was paid and what he is claiming we still owe. We have no tax ID number and will give us a detailed bill of the supplies purchased. We have been receiving threatening texts . We have damage that this contractor has done to our home.
We have given him a total of 21,000. What can I do in this case . Please help.
We are trying to sell our home and he knows this and says he will file a lien unless we give him the money but, he says he is not providing us with a detailed bill. Bottom line is he was a friend that we trusted....Read More
WE WERE DELAYED BECAUSE OF THE WEATHER EVENT THAT HIT US . AND NOW WE ARE COMPLETE AS WE CAN BE. WE HAVE SUBMITTED OUR FINAL INVOICE FOR PAYMENT AND HAVE NOT RECIEVED PAYMENT....Read More
I am a home owner with extra land and want to build ADU’s. I need to get a construction loan. I need to know about starting a single person LLC better before or after trying to get approved for the loan. ...Read More
During a time when I was having to make near daily trips to an area nearby, Rosemary Ami, hired me to wrap, pack, and stack, items left by her deceased sister Katherine Price, at 1090 Buckskin Dr., Show Low, Az.,85901. She was paying me $15 per hour. Gave me the keys, and packing materials, and told me to keep track of my time, this was in Nov. 2018. She also mentioned at that time she needed to get someone in there as she realized that just to spend an hour or so wasn't making the job go as quickly as needed. I'd had to repair a number of things just to make the place liveable. I then moved into the site to get things done quicker. That was March 1, 2019. In mid April,2019, I gave her a copy of my hours, which both the original and the copy had been signed by her. Come May,2019, I'd asked her when she thought she might be able to start paying me. That's when she exclaimed "I haven't any money!" At which point she decided to get herself out of paying me, she'd start charging me rent. Her keys were returned to her the end of May,2019. I told her I'd moved out as she was to be paying me for the work done. A judgement was obtained 11-14-19, in which the total awarded is: $3,500.00 plus 5.75% per annum. Rosemary didn't start paying anything until Feb.,2020. These amounts were only $40.00 per month. I text sent her a receipt and balance due which included the 5.75%. After making the second two month payment, she stated that if I continued to charge her interest, she'd not make another payment. The March and April payment wasn't made until May. Interest again applied. She then stated she'd not make another payment. Rosemary Ami is collecting Soc.Sec. and is a licensed massage therapist, having two locations she gives treatments: Snowflake, and Holbrook, as well as in peoples homes. She is yet paying on a mortgage on the home she lives in: 8476 Pueblo Ln., Snowflake, Az.,85937. She and I believe her brother were left the: 1090 Buckskin Dr., Show Low, Az.,85901,address. She also owns a mobile home in a trailer park, in Holbrook, Az. On the Show Low parcel, being said there are several liens. She's supposedly a man there, doing work on a place that hasn't an updated septic system. It only had a what seemed to be a barrel with a 2" pipe coming out of the top. Which was spewing sewage every time the toilet was flushed. I've photos of what I was asked by Rosemary to be cleaning up. I had to spend weeks cleaning the place, just to put a bed in it. This woman lies, a lot also! Sincerely, Barbara Rose...Read More
Is it legal in San Antonio(Tx), for a Builder LLC to request a customer for payments for the construction of a Residential unit in this manner?
E.g.:
The project due date is 5 months from signing of contract.
Downpayment 50% in advance
Month 1 10%
Month 2 10%
Month 3 10%
Month 4 10%
Month 5 10%
Assuming project construction advances accordingly and on schedule.
Thanks in advance!!...Read More
I am trying to take 1 building of 4 units that have flat and shingle roofing that have had many attempts over the last 45 years to solve a flat roof problem. My approach is to tear the roofing materials on the flat roof down to decking. Then i want to study all potential solutions on how to create a better permit solution we have had over the years. Normal roof have failed many times. I am a licensed contractor but not a roofing contractor and live and set on our HOA board. I need to write a contract between 2 roofing companies one is our consultant and the other is a certified roofing contractor for GAF materials. I need a contract that allow me to control a time and material plus allowing me to purchase all materials to the potential solutions. This test building I may do 2 different solutions to the flat roof that the purpose of the t&m and I want to do t&m so i can keep track of real expenses as we have 22 other building to do and when i set the spec out i will hire 2 or more roofing contractor assigning them a building but following our specs. So its important that this first building allows me to control the job and its solutions that our roofing consultat and the vendor and myself agree to try on this test building....Read More
I am an HVAC subcontractor working on a big project. I have filed a mechanics lien because of non-payment. 2 of my payment applications were not paid in full, but I was told by the project manager that the bank agreed to work in place 100%. I never received notice that my payment application wasn't being paid in full. This was only found out once I received the check. Is there a way for me to find out if the bank paid 100% of the HVAC SOV during the concerned payment cycle?...Read More
Good day. Can you send me a sample of an introductory text when sending a remodel quote to a client where it also contains the structure of term payments?
...Read More