The Junkyard

Ass backwards economy and the love of fast money. Funny you bring this up because something of this nature just happened to me yesterday, LOL

Funny. I'm a contractor, and I feel everyone wants their work done yesterday and they'll finish paying after they get back from vacation in a couple of weeks. lol. But, I understand where you're coming from... especially my subs.

Certainly understand your woes too, Huntinfool. Definitely see that too. I deal with GC's and homeowners on a regular basis being a third party consultant. Funny how they think just the opposite of each other...

In my defense, this tree company wanted their payment in full with only have half the job complete- not mentioning that I'm paying in CASH. Just can't do something like that in good conscience without having the job done, or at least close.

Don't do it. I never collect on work not completed unless materials deposit or pre-discussed phase completion.

Mechanics lien should be pretty simple.

And the customers should jump pretty quick with payment when you face them with a possible public record that could mess with their credit report worse than any collection.

If you do get a judgment against real property, you will get to collect about 7% interest right now (not a bad return on investment in this economy) which will double what you are owed in about 10 years.
In addition, you will drop a good credit score of theirs down about 80 points (a great credit score will drop even further). And they won't be able to refinance or sell the home without paying you. Most traditional credit won't offer them anything new with outstanding public records, too.

It might still take years if they don't realize what they are up against, but the threat of bringing hell with you will at least get the smart ones to pony up pretty quickly.