My dad has owned his own company for 16 years. The last few years though, people started being horrible about paying. Not just the contractors we do work for, but random homeowners as well. We are still waiting for payment on jobs we did 2 years ago. Add on to this the number of electrical contractors in our area skyrocketing. Things have been getting very tough.
He has already had to sell off equipment and he is now looking at putting the office up for sale or lease. I don't know where we're going to move to. If things don't start getting better, there's even a chance my parents could lose their house. This is my dad's only income. I don't know what he will do if the company dies. This is also my only income right now, as well as the main income for my brother. (It's turned into an unintentional family business)
So please, if you have a spare moment, send some good thoughts my dad's way. If things don't get better, the company might not make it through the winter. If we even make it to winter.
Thoughts are with you guys.
Ummm.. has he considered selling that "bad debt" to a collection agency? While he may not get full reimbursment, he may be able to recover a substantial sum.
Oh no!
I'm sorry to hear of this!
Your dad will be in my thought's, prayers!
PurpleDragon, He's used collection agencies in the past, but not much has ever come of it. At most he'd get 50% back. Usually it was much less, if anything.
He's also taken people to small claims court and has had more success there, but with the time it takes to do that he can't afford it. Its not unheard of for him to pull 70-80+ hour weeks and he still doesn't get everything done.
OUCH... yeah, and going to court just means they have a judgement against them, not a real guarantee he'll actually see any money.
I am sorry you are having to deal with this.
You and your family are my thoughts and prayers, may things turn for the better soon.
Well, its a definite that the building is going up for sale. Its not listed yet, but it will be. My dad told me friday to take whatever job I can (I had been about to look for a second job anyways) regardless of hours and we'll figure out when I work at the office around that.
So now I need to find a job that pays about the same as this one per week (I can just get by with what I get here, can't do less).
Add to that the stress of seeing my friend first the first time since he tried to kill himself, and it's been a very stressful week.
ETA: and thanks for all of your thoughts. I'm worried about how my dad is taking this, but so far it seems like he's dealing as well as can be expected.
>:(
Would it be bad if I went after some people with a cutlass or something? My dad found out one reason why we're not getting calls. People have been spreading false rumors.
And I have a feeling I know who is behind them. >:( >:(