Question: Since this coronavirus (COVID-19) pandemic arose, I’ve been having a terrible time getting paid by some of my customers. Collections have slowed and maintenance isn’t being performed as it should be. I even had a previously good, longtime customer destroy a machine a few weeks ago and tell me he doesn’t have to pay me because only his limited liability company (LLC) is liable — not him — and his LLC only has about $1,500 worth of assets. Other customers are telling me they may declare bankruptcy as they don’t have any assets left. What can I do here?
Find Attorney James Waite’s answer to this question in the October issue of Rental Management magazine.
If you are in the equipment rental industry, you can get a free subscription to Rental Management by clicking here.
An official publication of the American Rental Association.
Produced by Rental Management Group. Copyright © 2020 Rental Pulse all rights reserved