Collection of unpaid invoices

[Mike Ault]

I generally don't have any problem collecting unpaid invoices this one client has let the debt build up and is not answering my calls or emails so it's time to get serious.

The one advantage to a licensed collection agency is that they can and will refer collections over to the credit reporting agencies. That's the only leverage they have that you don't.

 

[J Grant]

is the client an AMC, a lender. or a private person?

 

[LesPaul59]

is the client an AMC, a lender. or a private person?

AMC

 

[J Grant]

AMC

Since it is an AMC, there is a LENDER as the client, correct? The lender is responsible for the AMC not paying an appraiser. Is the AMC still in business? Does anybody there respond to you if you contact them? If so, you can try this ( I have successfully done this in the past ) Tell them that unless they wire you the money within 24 hours to your checking account, that you will inform the lender that you have not been paid. The AMC does not want to lose their lender client and will pay up.

If the AMC is not responding to you if you call or email, or if it has gone out of business, or if you are just done with them, then contact the lender and tell them that the AMC has not paid you and that since they , the lender, are responsible, you need them to pay you for the appraisals which they have accepted and used.

If they start whining and tell you that they already paid the AMC for the appraisal, then tell them that they still must pay you, and then they can chase the AMC for reimbursement. IF they object, Tell them that unless they pay you will contact the state attorney general's office. They will either pay you at that point, or wil put intense pressure on the AMC to pay you.

 

[J Grant]

AMC

I re read your post that they are not taking your calls, so go right around them and straight to the lender . Follow my advice above post how to approach the lender.

 

[LesPaul59]

I re read your post that they are not taking your calls, so go right around them and straight to the lender . Follow my advice above post how to approach the lender.

Well, there is not a lender but there is a client which is USDA. So I will try to find a good contact for them.

 

[Tom4value]

I am referring to private work. That’s more likely the place to get stiffed. I have only been stiffed by an AMC once. And they went bankrupt. That was a long time ago. That’s why I don’t work for AMCs that haven’t been around for quite some time. And I barely work for any, because they are cheap.

Ah. Yes, same here.

 

[Tom4value]

what law says that...

Maybe poor choice of words. It is not a "law" but a guideline that is from the CFPB that is strictly enforced for lenders. The lender has to pay the appraiser. This eliminates the confusion that the borrower feels they are the client if they pay the appraiser directly.

Really? This has been in effect since 2008 (I think). You have never heard that?

 

[autobot]

I guess Appraiser's aren't allowed to file Mechanic's Lien, but aren't they normally paid "Out of Escrow" or something? (assuming the Appraisal is for a RE transaction, not just someone's idle curiosity)

 

[Vermonter]

Start invoicing everyone involved. Borrower, lender, etc.