Thread: bankruptsy
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Old 01-17-2001, 03:21 AM
Skookum Skookum is offline
LawnSite Senior Member
Join Date: Sep 2000
Location: West Lafayette, Indiana
Posts: 667
Leins do work, but I think it might be too late if already served with the bankrupsty papers.

I had a guy owe me two months mowing for over three months late a few years back. He put his house up for sale that winter. I had a feeling I was going to get taken, so I filed a lien on the property for what he owed me.

Man was he ticked when the buyers called and told him the search came back with my lein. He could not sell the property till I was paid and I released the lein. He was hot when he gave me the check and I signed off the lien.

Too bad I did not see it coming this year when a woman did same thing to me for one month's billing. I trusted her too much I guess, she always paid the week after billing for two years.

Also, I am no accountant, but, YOU MOST SURELY do take off bad debts since they are part of your invoicing and your gross income. Now you cannot get anything for your time, but your expenses are still expenses. Make sure you take off the money billed from your gross income that you billed out! Some might forget to show it and pay tax on money you did not get. This has to do with accural and cash accounting methods.

[Edited by Skookum on 01-17-2001 at 03:27 AM]
Skookum Yardworks
West Lafayette, Indiana
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