Hey guys -

Family friend of mine operates a ~20 person manufacturing / building supplies firm that sells predominantly to construction companies and contractors. There’s ~$250K outstanding of unpaid invoices across a dozen or so customers and it’s been past 90 days with no response. I’m trying to figure out if arbitration is a better and faster process vs. small claims court or collections.

If anyone’s been in a similar position, would love your thoughts!

  • LizzieFreeman@alien.topBEnglish
    1·
    10 months ago

    Yes been there but not so severe. For the two that did owe in excess of 20K each and ignored calls and emails, i sent them a final email to let them know that i suspected they were trading insolvent and i intended to file a creditors petition and have them made bankrupt.

    Both paid in 24 hours. ( I suspect they owed others as well)