Client claims bankruptcy

[JJM IV]

Thanks for all the insight!

 

[cerviarborist]

Would we as businesses be considered a creditor in the courts eyes? As a service industry I would argue we don’t offer credit, which may be looked at differently in the courts. (I don’t know this answer, but am going to ask my financial institution).

This is great information, all business owners should have knowledge of how to navigate. It’s a shame there is all of this protection for these people that live WAY above their means, but those of us who wake up every day, work hard just to do it again tomorrow have no protection for our investments.

If you're owed money, regardless of whether you offered repayment terms or are owed interest, you're still a creditor in the eyes of Federal Bankruptcy Court.

 

[Stephen Moore]

In my area , the population is pretty low and everyone knows me, but in the summer the population triples and people need my services. If someone attempts to stiff me I warn the client that I will immediately spread the news to all the local contractors. That person will have to find companies to do work from out of town at a hefty cost. Lawn care, roofing, construction contractors all are on a group email mail out. I only have to type their name and what they owe, their reluctance to pay and press send. It also severely damages their reputation in the community, and I have no problem doing it because they are effectively stealing from my children/ family.

 

[treebilly]

If your bill was specifically included in the bankruptcy you’re basically screwed. Use it as a loss on your taxes. Know if you happen to bump into this person at a restaurant / bar type of scene, accidents can happen