bryan45419
Junior Member
What is the name of your state? Kentucky
Hi,
My wife and I reached an agreement with a GC to do rehab work on our home. Our agreement is in writing, outlining the work to be completed and the price for which it is to be completed. There is no "flex" in the price quote - it is a fixed price contract. We have met our committment regarding payment, having paid in full (I know, a dumb thing to do). The GC, however, is telling us that he needs more cash to complete the job, and if we do not pay, we feel that he is likely going to walk away rather than make good on his committment.
My question does not concern the merits of our case against the GC, but is instead focused on collecting a refund from him. Assuming that we have a winnable case against the GC (I will verify this with an attorney), and that we win some sort of settlement, what will be the obstacles to collecting? I'm interested to know if this is going to be worth all of the effort to go through litigation. The amount I'm estimating that we could win is approximately $30k-$40k, on a deal that was overall $300k.
Background info: The GC, as far as we can tell, does not have much cash on hand. We believe his sources of funds are from 1) his pension from a previous job, 2) his GC work, and 3) his wife's employment. He generally seems to be living paycheck to paycheck, as he always wants to be paid weekly rather than bi-weekly, and has on occassion requested an advance payment. The assets they appear to have are their home ($250k) and three automobiles (non of which are of high value).
So, would this case be "worth" pursuing? Could the GC just declare bankruptcy and avoid paying us? How long can I expect to win a settlement and collect?
Thanks for any insight you can provide!
Hi,
My wife and I reached an agreement with a GC to do rehab work on our home. Our agreement is in writing, outlining the work to be completed and the price for which it is to be completed. There is no "flex" in the price quote - it is a fixed price contract. We have met our committment regarding payment, having paid in full (I know, a dumb thing to do). The GC, however, is telling us that he needs more cash to complete the job, and if we do not pay, we feel that he is likely going to walk away rather than make good on his committment.
My question does not concern the merits of our case against the GC, but is instead focused on collecting a refund from him. Assuming that we have a winnable case against the GC (I will verify this with an attorney), and that we win some sort of settlement, what will be the obstacles to collecting? I'm interested to know if this is going to be worth all of the effort to go through litigation. The amount I'm estimating that we could win is approximately $30k-$40k, on a deal that was overall $300k.
Background info: The GC, as far as we can tell, does not have much cash on hand. We believe his sources of funds are from 1) his pension from a previous job, 2) his GC work, and 3) his wife's employment. He generally seems to be living paycheck to paycheck, as he always wants to be paid weekly rather than bi-weekly, and has on occassion requested an advance payment. The assets they appear to have are their home ($250k) and three automobiles (non of which are of high value).
So, would this case be "worth" pursuing? Could the GC just declare bankruptcy and avoid paying us? How long can I expect to win a settlement and collect?
Thanks for any insight you can provide!