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Does a Lien Affect Your Credit Score?

Levelset

If you receive a notice that a lien has been filed on your property, you may wonder how it will affect your credit score and your ability to borrow money or get credit. Mechanics liens are different from other collection instruments, so they are treated differently when it comes to reporting on your credit history. What is a lien?

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You Risk Paying Twice When Sub-Contractors Don’t Pay Their Bills

Wolgast Corporation

Liens Can Wreak Havoc on Funding. On top of that, that they expect you, the owner, to guarantee to the Bank and the Title Company that the project will be lien-free during construction. These types of problems have always existed in the Construction industry, but in this economy the problems are far worse than ever before.

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Owners Can Get Cake and Icing Under New Tennessee Lien Law

Best Practices Construction Law

The new statute, signed into in May 2018, immediately created a cause of action providing for remedies for the successful challenge of the validity of a lien against a property. 4) Any actual damages incurred by the owner. 4) Any actual damages incurred by the owner.

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The Hurdles of Assessing Credit in Construction — and How Experts Overcome Them

Levelset

In the construction industry, where credit is an integral part of companies’ processes , credit teams have to assess the creditworthiness of their customers individually, and it’s neither a straightforward nor simple process. Common credit issues for those in the construction industry. Where do they bank?

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How to Start an Electrical Business: 9 Tips for Growth

Levelset

Industry research shows that the US electrical industry has more than 1 million employees working for 200,000 businesses — and annual revenue exceeding $200 billion. Establishing a business legally is a straightforward process, and creating a plan for growth is exciting. annually for the next five years. .

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9 Tips for Starting an Architecture Firm

Levelset

Architects live or die by their ability to manage cash flow — it’s the primary reason why businesses in the construction industry fail. If your clients are slow to pay (a common problem in construction), you need to know your legal rights, including the right to file a mechanics lien. Pay close attention to cash flow.

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How to Start a Painting Business: 9 Keys to Growth & Success

Levelset

Industry research reveals that the US painting industry includes over 255,000 businesses with total annual revenues exceeding $35 billion. Establishing a business legally is a straightforward process, and creating a plan for growth is exciting. Start right by registering, licensing, and insuring your business.