Caporegime
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illegal debt collector is the only way he will get his money back however you need to have contacts. the guy i know charges 20% too but no £3K+ expenses. possibly would do if he had to go abroad.
paid builder £55k. business gone into liquidation and he's left the country
- Thread starter unwashed potato!
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illegal debt collector is the only way he will get his money back however you need to have contacts. the guy i know charges 20% too but no £3K+ expenses. possibly would do if he had to go abroad.
This company sounds brilliant!
Caporegime
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how will they recover any money?
he paid a company. likely limited. that company is now bankrupt. nothing you can do now.
Caporegime
Limited companies tend to be run by someone...
Even when the company is declared insolvent that individual tends to have money still.
Caporegime
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The basis of limited liability is that all debts incurred by a company are the company's liabilities and are not directly the legal liabilities of the shareholders or of the directors of the company. The company is a separate legal person from its shareholders and the directors.
It doesn't matter if he has money. That is the whole scam. You cannot claim it back off him only the company.
Caporegime
That's right. That doesn't stop the money being recovered through other means. You have kneecaps I assume? I imagine you're partial to them?
Caporegime
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If I'm going to be robbing people of £50K on a regular basis. I'd have an enforcer or two to deal with any trouble
Caporegime
Which is why I'd be paying a big ugly gent of my own to deal with the issue which is exactly what is suggested above.
Do we know that? - unless I am missing an update all the op said is that a family member paid out $55k, they don't say to who, or how.
An employee saying the 'company' is in 'liquidation' I would take with a massive grain of salt. If it is in liquidation then going to debt recover firm is a good call to make sure that the family is pushed as high up the list of debtors for any funds left in the company. They will also likely try and work round and ltd protections and go after the directors/shareholders/owners of the business.
That is also why I said they should be going to the police with a fraud action.
Caporegime
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they can try that. likely he took all the cash out as an exit scam. it's how these things work.
it's also why when you are handing over £50K you do your homework.
also only a cowboy would ask for £50K up front
You don't seem to understand how company liquidations work.
Soldato
As others have said regarding credit card.
Are you certain he has high tailed it? Unlucky if so.
I've had family burned doing it proper way (in tranches) by them being sued. Builder had contract to say he would build extension within 6m, a year later still nowhere near finished (I think he just did walls and roof and floor). Gave a warning if he didn't show up they would give contract to someone else. Gave contract as he didn't they were then taken to court by original builder for remainder of money owed to him. The genius that was the Judge ruled in his favor and he had to be paid five figure sum in settlement for doing sweet FA.
Enforcers are a good way, make sure they are the enforcer that punches them in the face the second they open the door and then does funny stuff to scare them. A friend of mine used to do "collecting" said it was great as he was now targeting bad people like what he used to be lol he used to tell some hilarious stories of stuff he did to humiliate and scare them (think him stripping off and placing member on head of victim while shouting warnings and making funny noises)
Are you certain he has high tailed it? Unlucky if so.
I've had family burned doing it proper way (in tranches) by them being sued. Builder had contract to say he would build extension within 6m, a year later still nowhere near finished (I think he just did walls and roof and floor). Gave a warning if he didn't show up they would give contract to someone else. Gave contract as he didn't they were then taken to court by original builder for remainder of money owed to him. The genius that was the Judge ruled in his favor and he had to be paid five figure sum in settlement for doing sweet FA.
Enforcers are a good way, make sure they are the enforcer that punches them in the face the second they open the door and then does funny stuff to scare them. A friend of mine used to do "collecting" said it was great as he was now targeting bad people like what he used to be lol he used to tell some hilarious stories of stuff he did to humiliate and scare them (think him stripping off and placing member on head of victim while shouting warnings and making funny noises)
Man of Honour
Good luck :/
We had to chase our builder to send us his bill and only paid him the final chunks weeks after he finished!
However we also got done by some other contractors who were onsite at the same time, fortunately one of the other guys let us know some suspicions before we paid in full.
They sent over a 'guy' and the rest isn't really for public chatting but it was sorted out.
We had to chase our builder to send us his bill and only paid him the final chunks weeks after he finished!
However we also got done by some other contractors who were onsite at the same time, fortunately one of the other guys let us know some suspicions before we paid in full.
They sent over a 'guy' and the rest isn't really for public chatting but it was sorted out.
Thanks for the replies. I'll try find out if it was a limited company or sole trader. I'd guess limited.
Also £55k upfront. Who said that?
It was paid £5k per week all the while some progress we being made each week, some weeks less than others. In that time work has happened, but definitely not enough. I can't say what the value to get someone to finish the work will be, but i'd be willing to bet it'll pretty much be the same amount paid already.
Yes this was a big foolish mistake. A second baby on the way too, this extension was sorely needed for them to have any space for this child, years of saving that they now won't have the ability to save up for the forseeable future. I've not seen the site, but I've heard we've now parts of the existing house roofless
Also £55k upfront. Who said that?
It was paid £5k per week all the while some progress we being made each week, some weeks less than others. In that time work has happened, but definitely not enough. I can't say what the value to get someone to finish the work will be, but i'd be willing to bet it'll pretty much be the same amount paid already.
Yes this was a big foolish mistake. A second baby on the way too, this extension was sorely needed for them to have any space for this child, years of saving that they now won't have the ability to save up for the forseeable future. I've not seen the site, but I've heard we've now parts of the existing house roofless
Seems odd that someone can take every single penny out of a company and then get nothing done to them. Also is so weird who companies prefer to deal with limited companies over a sole trader, yet get much more risk if the company goes into liquidation, as they have no one to go to.
That's not entirely true. Knowingly continue to trade while insolvent is illegal, also if a director is aware the company is insolvent they are required by company law to act in the best interests of the company's creditors. If they don't a liquidator can try to recoup amounts from individuals as part of the liquidation process.
Soldato
I think it is well-accepted, right or wrong, that there's plenty of grey area here though. In this case, if it came to it, doubtless the builder would have significant debts and cashflow problems, and his accounts would be able to demonstrate that if he just made this £55k income job then it had a reasonable chance of solving the problems of the business. Only it didn't turn out that way.
Soldato
They paid out 5k a week? That's a lot of money for a weeks work.
I guess. It also depends where you are located too. With my lack of experience, I'd have expected supplies and labour to be high initially, Higher than £10k but maybe not