Mechanics Lein Filed

[TC11]

We live in Illinois. In this case I'm the creditor. My company did a project last year. The customer wouldn't(couldn't) pay the final bill of $20,000.00. We filed a mechanics lein on the property within the allotted time. A few months later the customer first filed Chapter 13, then converted to Chapter 7. She lost the house to the bank, the bankruptcy has not yet been discharged. Our attorney says its up to us to deal with the bank to get anything.

What should we do?
The lein is good for 2 years. After that can it be refiled?
To date we have not even been served with BK filing papers, but we did call the courthouse and get the customers BK case number.

[HHM]

You may want to go see an experienced attorney that represents creditors in bankruptcy and some experience in real estate. The good news is, the debtor cannot avoid statutory liens, (but the trustee can).

I would presume that the bank cannot foreclose and pass clear title with your lien outstanding. So, you will need to get in touch with the bank.

As for the Bankruptcy, about all you can do is wait for the Trustee to make his determination of whether the case is an asset or no asset case. If its an asset case, then you file your proof of claim.

[Minnymouth]

Hello

Its interesting to hear from a "creditor" on this forum....

Most of us are so "involved" in our BK that we "forget" that creditors "do take a blow" when we file.

Large cc companies just "write off" a lot of debts, but a small company can really be hurt by a lot of bankruptcies. No income - you can't pay the hired hands...

Hopefully you will "re-coup" some of your losses in the sale of the home....I sure hope so....

I personally would not want to be responsible for a small company to "go under" because of my actions...

Not all of us are out to "screw" our creditors....we do feel bad about filing but see no other option open to us.

Just a thought I wanted to share with you...

Minny

[Lightning]

Obviously you don't work for a "big company", or you'd know that bankruptcies have an impact on them and their employees as well. You might want to take a course in economics at a local community college. None of us lives in a vacuum.

[Minnymouth]

DUH, Lightening,
YOU NEED TO READ THE POSTING AND COMPREHEND WHAT YOUR READING - BEFORE YOU OPEN YOU MOUTH!!

I said in my posting that all creditors take a blow!!" Large companies write-off" bad debts (they figure a % of it in their budgets) - then charge higher interest rates to make up for it. Smaller companies have a much smaller % so it can hit them much harder! And most of them have no way to make up the losses if their losses are extremely high.

Most employees of "large companies" are hurt because the COMPANY sends everyting OVERSEAS - at cheaper wages.
This also includes cc company clearing houses, banks, etc, not just industrial plants. Small businesses keep their business in the USA.........

As for my "education" - I'm a college grad with 40 years of working and "real street living under my belt"!!! How about you???

Do I live in a vacumm, HELL NO!!! I live in a real world, unfortunately with obnoxious people like you, Lightening.....

Your input on this thread offered no subject support or constructive opinion to the person who posted this thread.

Every time you post it's a personal attack on someone....

Mymymy said it best "why don't you go away???".

Minny