Filing a claim for Mechanic’s lien to secure your paymentsby Alan M. Cohen LLC Debt Collection Lawyer in Boston
Are you a contractor or a supplier who has carried out service work on a property and did not receive a payment for it? You may want to consider filing a claim for mechanic’s lien in the county where the property is located. Mechanic’s lien refers to any charge or duty imposed on an estate that is used to secure settlement of a debt.
Typically, the job of contractors, subcontractors, and suppliers involves making changes to an estate to add to its aesthetics or structural integrity. As such, they need to be certain they will get remunerated for such services. Lien essentially assures payment for their works. When Mechanic’s lien is placed on a real estate, the landowner does not have a clear property title until they pay off the debt.
A large number of property owners who are unable or reluctant to work out the payments have understood the leverage they hold over the subcontractors and suppliers because if they do not choose to pay them for the completed building project, the contractors cannot really move the building somewhere else. But construction works, for the most part, entail a considerable amount of time, efforts, and supplies, and this is why you need an approach to make certain you would receive your payment on time. This is where you can turn mechanic’s lien to your advantage as a means to secure your payment.
Filing for the claim of lien is among the most successful methods of receiving the complete settlement from the property owner as it makes known that there can be alarming legal repercussions if the payment is not made. Needless to say, property owners do not want the negative consequences lien has on a property, so they do all they can to refrain from them.
Because liens have come to be one of the most popular ways for contractors to get remunerated, many states have laws regarding the management of them. Getting your head around these laws can be tricky, which is why you should work with a debt collection lawyer as an efficient way of streamlining the debt settlement process. Despite the fact that there is a cliché about debt collectors—that they are uncompromising, stern, and cold, these are not the peculiarities that a professional debt collection lawyer really has. They are, as a matter of fact, great listeners, creative problem solvers, comfortable communicators and empathetic individuals. A professional debt collection lawyer, with their vast experience and knowledge, will make sure you do not have to face any complications in the course of the debt collection process and that your debt is settled before long.
Created on Apr 23rd 2018 01:16. Viewed 353 times.