My parents wished their home re-built (in Maryland) and went thru a contractor. Per the contract, the house was going to be completed in four months. It took them 14 months to finish about 80% of the work promised. Two days ago they informed us that they were filing for bankruptcy. Our worst nightmare came through.
What is our next step?
What are our rights?
Can the loss be deducted?
Is it worth to hire a lawyer?
2007-01-27 02:37:41 · 3 answers · asked by Zoila 6 in Politics & Government ➔ Law & Ethics
Upate: *Just* found out that they already went bankrupt.
2007-01-27 03:15:00 · update #1
Make a claim against them at the bankrupt court.
2007-01-27 02:44:00 · answer #1 · answered by Anonymous · 1⤊ 0⤋
you ever heard of a mechanics lien if your contractor did not pay off the suppliers they can put a lien on the house it would be wise to hire a attorney it could save you a lot of problems
2007-01-27 10:48:08 · answer #2 · answered by James N 1 · 0⤊ 0⤋
Until the bankruptcy papers are finalized, you still may be able to recoup something, so talk to a lawyer fast.
2007-01-27 10:43:41 · answer #3 · answered by WC 7 · 0⤊ 0⤋
If they had a contractors license then they should have been bonded, if so you can recover your lose if not ?????????
2007-01-27 10:43:36 · answer #4 · answered by 007 4 · 0⤊ 0⤋