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C

Concrete guy

I had a business taken down this way. We were taken for £250,000 and it was terminal for us. But it took another firm along with it - we were third in line.

Main contractor building apartments in London, our customer had the contract for main interior fitment of properties (1800 properties in total).

We credit checked our customer, got the all clear from our Bank.

Provided £250,000 worth of goods. Main contractor goes into liquidation and takes our customer for £450,000 - our customer goes into liquidation and takes us for £250,000 - bankrupt.

I personally went bankrupt on this due to securities I had in place - at the time I was sick from it all - but you live and learn now - the lesson I learned was give no one credit. It keeps my business small now - but I won't get knocked again.

The biggest issue I have is the stigma of bankruptcy. There's no categories for who, what where and why. So for 6 years I was lumped in the same category as everyone else who'd spent too much on holiday's credit cards and 50" tv's.

I'd like to see a Personal and business bankruptcy classification.
 
B

Bubblecraft

I had a couple who got away with £1250. I was doing a full renovation across the road from them for a lovely women. They stopped me when I was unloading goods from my van & asked for me to price a job for them. Nothing felt right from start to finish but my trouble is I don't know how to say no.

Anyway, after pricing the job, they THEN said it was an insurance job. After taking deposit & starting, they kept adding & adding more work but I didn't take any more money. Said I'd take it on the final payment.

They went on a 2 week holiday abroad with their insurance money. They were nice enough throughout the job until it came to final payment. They then kept hitting me with petite snagging lists which I had done to exceptional detail but they still weren't going to pay. It was starting to over lap other jobs so it was easier to cut my losses & move on. They were reported for insurance fraud & got done. Still makes me mad when I think about it. They spent MY money on holiday & had nothing left to pay me!
 
S

Spud

I did a HA block in Bedfordshire , my ex business partner booked the job, we supplied all the tiles trim adhesive and grout about 150m2 got stiffed for the lot ,went to the housing association and asked them for the money and was told to go west as our contract was with the builder who went bust so it was a knock of over £5500 invoiced but cost about half that in real terms money out of our pockets i was really annoyed about it as the builder knew he was going under and i wanted to chop off the tiles and skip them as the housing association hadnt paid for them but when I turned up on site they had employed security guards and were not allowing any body onsite
 
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