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| Grumpy Old Pharts Board Gerritol, Ex-Lax, Immodium, Bad Breath - all requirements for the Grumpy Board |
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10-24-2013, 03:08 PM
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#1
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Land OF Forgotten Toys
Join Date: Sep 2009
Location: Central MA
Posts: 2,309
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Just don't get it
I am a small time electrician I choose my customers carefully based on ability to pay their bills. I don't chase the big auction jobs. I like the projects that go Max 200k. Most of my work is in the 30k to 200k dollar range.
Well one of my customers is a multi billion dollar corporation. Plenty of revenue. Why are they holding 150k of our money for close to 120 days. They say it is a software upgrade issue. Really starting to lose my noodle. Fortunately my wife is a public employee there seems to be no trouble printing money for her job.
Getting tired of this crap. Took a hit 4 years ago on 60 k to a gas station. If I don't get paid soon going to liquidate and become a full time landlord. Killing me
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I am the man in the Bassless Chaps
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10-24-2013, 03:33 PM
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#2
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Registered User
Join Date: Sep 2003
Location: Libtardia
Posts: 21,555
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Hire a collection agency
Posted from my iPhone/Mobile device
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10-24-2013, 04:09 PM
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#3
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Seldom Seen
Join Date: May 2001
Posts: 10,391
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I run my business as a sole proprietorship. Carpentry and remodeling. Bids always have payment schedule. I don't take any thirty day net jobs. Payment in full, including change orders, upon completion. I also have a couple disclaimers on estimate and invoice forms stating that late payments will begin to accrue interest at 18% seven days after bill is presented, with interest accruing from date bill is presented. Another disclaimer is that client is responsible for any bank charges put to me by their bank for cashing checks. Basically at RI banks do it if you don't have an account there. Last resort is filing a mechanics lien. Only done that twice. Client refused to pay $1200 for a new tub. The drain on the old one was compromised. They went to sell their house and it came up.... They ended up paying the 1200 PLUS a very high interest rate set by the courts, which was based on the cost of the entire job, not just the 1200 they owed me. Came to just under 3 grand. Payback is a beotch. Just waiting for the other deadbeat woman in Salem to sell or refinance.... that one is going on over ten years and will be a doozy.
I would be all over that corporation... Their software excuse is BS. Turn up the heat. Take a day and go to their offices. Send the certified letters with demand and interest due. Make the phone calls. I am a bear when it comes to this stuff. I am in the process of setting up a collection system for my mechanic who has close to 300K out.... Good mechanic, lousy businessman. Makes my 6000 in bad debts/accounts receivable look like nothing.
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10-24-2013, 05:50 PM
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#4
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Registered User
Join Date: May 2010
Location: Pembroke
Posts: 3,343
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I have been to small claims court 8 times in the last two years, collecting money. Won them all.
Posted from my iPhone/Mobile device
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10-24-2013, 06:02 PM
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#5
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Registered User
Join Date: Sep 2003
Location: Libtardia
Posts: 21,555
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People with a lot of money got it by 3 ways. They worked hard for it, they stole it, or they inherited it
Posted from my iPhone/Mobile device
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10-24-2013, 06:08 PM
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#6
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Super Moderator
Join Date: Aug 2000
Location: Middleboro MA
Posts: 17,119
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Quote:
Originally Posted by Nebe
People with a lot of money got it by 3 ways. They worked hard for it, they stole it, or they inherited it
Posted from my iPhone/Mobile device
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So?
Doesn't,t meant they can,t pay their bills.
get on them like Ross said
Posted from my iPhone/Mobile device |
The United States Constitution does not exist to grant you rights; those rights are inherent within you. Rather it exists to frame a limited government so that those natural rights can be exercised freely.
1984 was a warning, not a guidebook!
It's time more people spoke up with the truth. Every time we let a leftist lie go uncorrected, the commies get stronger.
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10-24-2013, 06:23 PM
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#7
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Land OF Forgotten Toys
Join Date: Sep 2009
Location: Central MA
Posts: 2,309
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We have been on them with out a doubt. I did over half a million with them last year never went over 45 days. If I send them to collection I will be out 30%. The money will come from them it is just really screwing me up currently. Just need to start selling more to offset what I am not doing with them as a matter of principle.
Posted from my iPhone/Mobile device
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10-24-2013, 06:24 PM
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#8
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Registered User
Join Date: Sep 2003
Location: Libtardia
Posts: 21,555
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Quote:
Originally Posted by Slipknot
So?
Doesn't,t meant they can,t pay their bills.
get on them like Ross said
Posted from my iPhone/Mobile device
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Well. These people are probably under the "they stole it" category.
Posted from my iPhone/Mobile device |
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10-24-2013, 06:29 PM
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#9
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Seldom Seen
Join Date: May 2001
Posts: 10,391
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Quote:
Originally Posted by Nebe
People with a lot of money got it by 3 ways. They worked hard for it, they stole it, or they inherited it
Posted from my iPhone/Mobile device
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You forgot marrying it....... Those can be the worst. |
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10-24-2013, 06:39 PM
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#10
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Seldom Seen
Join Date: May 2001
Posts: 10,391
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Quote:
Originally Posted by Jackbass
We have been on them with out a doubt. I did over half a million with them last year never went over 45 days. If I send them to collection I will be out 30%. The money will come from them it is just really screwing me up currently. Just need to start selling more to offset what I am not doing with them as a matter of principle.
Posted from my iPhone/Mobile device
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I'll do it for ten....
Seriously, act as your own collection company. Ask them what is their intent with regard to this debt. Do not let them off the phone without a definitive plan, and that it will be followed up with certified mail. I can usually get a little more by saying this; I am sorry that you cannot give me a satisfactory answer, but I must hold someone responsible... May I have your name, please? Your title? Oh, and the name title, and number of the person you report to? No emotion. Just transfer risk to the person at the other end of the phone. Use that line until you get passed up the line to someone who CAN make the decision to cut the check! |
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10-24-2013, 06:43 PM
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#11
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Registered User
Join Date: Sep 2003
Location: Libtardia
Posts: 21,555
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Quote:
Originally Posted by nightfighter
You forgot marrying it....... Those can be the worst.
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(Stole it) 
Posted from my iPhone/Mobile device |
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10-25-2013, 08:05 PM
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#12
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Hardcore Equipment Tester
Join Date: Mar 2001
Location: Abington, MA
Posts: 6,234
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Show up where you did the work and start removing fixtures and wire.....
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Bent Rods and Screaming Reels!
Spot NAZI
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10-26-2013, 07:02 AM
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#13
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Registered User
Join Date: Feb 2004
Location: RI
Posts: 5,695
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Quote:
Originally Posted by TheSpecialist
Show up where you did the work and start removing fixtures and wire.....
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Went to a house with a can of Zip-Strip.Owner asked me what I was doing I said "taking my paint back."Got paid. |
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10-29-2013, 07:25 PM
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#14
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Land OF Forgotten Toys
Join Date: Sep 2009
Location: Central MA
Posts: 2,309
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Quote:
Originally Posted by TheSpecialist
Show up where you did the work and start removing fixtures and wire.....
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Switch gear that was rigged in to begin with is kind of tough to yank out particularly when I disconnect power the generator automatically turns on feeding the second set of bussing. In two of the cases I would need to do that to remove the work
Posted from my iPhone/Mobile device |
I am the man in the Bassless Chaps
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