Re: Real life story - Posted by Gary
Posted by Gary on March 23, 2002 at 24:59:12:
This happened in a time span of about a week from start to finish. No, I did not tack on any fees or such due to the fact it was only about a week and I didn’t want to risk losing several hundred verses 20 bucks and 1 week in interest. My only expense here was some additional trips to her house, 2 trips to the court house, 20 bucks and some aggravation. The second trip to the court house was to release the mechanics lien. If you don’t release the lien when paid, they can drag you into court. It wasn’t really out of my way because the building permit office is next door. How convenient. If this went on for months then yes I might tack on additional costs depending on the situation. Every situation is different so you have to analyze each one based on the circumstances surrounding the case. I’m looking at the bigger picture here. You heard the saying " a bird in the hand is worth more than two in the bush".
Some times you can win the battle but lose the war. I’ll explain.
Say a person owes you $5000 and the situation comes down to you having to take them to court. OK, your in court and due to motion after motion or whatever, or they reschedule the trial due to their attorney not being able to be there on that day and you don’t know this until your in court that day. You now lost a days work and pay. Next court date, another day lost. This may or may not go on for a while. Every situation is different. Now, it’s the big day when every thing is to get settled and lets say you win the case. Great, you got your 5k now but it costs you 8k to do it. You won the battle but lost the war. You ended up with a net loss of 3k not to mention time, other expenses and other money making ventures you could be doing during this time. Did I mention that even though you won, you still have to be able to collect the 5k. If they do not pay up guess what…back in court. Oh, but what if you lost in court. Now your out even more money…ouch.
Point is, when a person is giving you 2k in CASH (cash is king) you do not squable over 20 bucks in filing fee. If you do and they say the hell with paying you, you got two options: 1 walk away and lose the 5k remaining money or 2 go to court and roll the dice because there is no guarantee you will win. It is a crap shoot. I like being able to sleep at night, not worrying about court the next morning.
Court: Been there, done that. Don’t want to do it again.
A smart business man knows when to cut his financial losses and sometimes, walking away is cheaper than fighting. Fortunately I never had to walk away.
Cover your tracks and you will minimize any losses.