• October 2018
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What options do I have when my real estate developer won’t pay me back?

Your options will depend on the specifics of the deal. As mentioned, you should look into getting an attorney. Collection laws vary from state to state and there are also federal collection laws (such as the Fair Debt Collections Practices Act). You want to be very careful to ensure that you do not do anything that violates the law because it could result in you being sued.

In addition to knowing and following collections law, a collections lawyer will also know the best options for your situation. The lawyer may be able to get payments made to you by the real estate developer by sending out a strongly worded demand letter. The lawyer may be able to go through the necessary steps to place a lien on the involved property (or properties). You may have other options as well, but you really would need to speak with a qualified collections attorney. Going to court may result in a judgment being filed against the real estate developer.

To learn more about how collections law may be able to help you get the money that is owed to you, check out LawTrades. We’ve helped thousands of people who’ve invested into a business and we’d appreciate the opportunity to help you get the answers that you need, too.

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