Losing money to companies folding?

[DrinkingHarp]

One builder owes me a good few thousand for work I have finished,They were a LTD company and have gone into liquidation so I am being told I haven't a hope of getting my money..Could this be true?

LL, hope this works out for you.  I have on the bottom of my invoices that "All goods supplied and equipment fitted as described on this invoice remains the property of (my company) until full paid for."

This gives you some hope for a few reasons, one is that the liquidator wants to have a resalable asset and not a showhouse that is in shite after you send in the boys from The Heath.  If he is a builder go in fairly strong, they generally yap among themselves and then you become known as an easy touch.  Send them a statement with the conditions above on it and if a liquidator is appointed send a copy to him.  If there is a creditors meeting make it known that you want to be notified and make sure you are there and tell the liquidator that you are going to recover your goods (cable) and that there may be a bit of damage.   Best of luck.

Thanks for the advice Bud but they are Private houses I have worked therefore people are actually living in them so I couldn't go ripping stuff out!
BTW would Ballinakill lads not be better to do such a demolition job than Heath fellas?

LL tough news there, I just folded my company officially as of today. Moved everything from my warehouse to a storage facility.

Here in the states you can put a Lien on the property that the builder has not paid you on, even if there is someone living in it. With the lien the home owner/ builder cannot sell the house till the lien is paid out- its like a pox on the title.

I am owed over 22,000 from builders and had to slap liens on a few houses and am taking one builder to small claims court, the 22,000 is too much debt for a one person company to stay afloat. Now I might have to file bankruptcy because my suppliers are all looking for their money - its a vicious cycle. Like I stated on another thread I am done with the trades and going into healthcare.

[Frankie Boy]

My friend's cousin set up an origami company about 4 years ago. He's making some money from this.