Posted by cassiewi on 2/23/07 2:34pm
Msg #176910

I heard through the grapevine today

that a title company I work with in Illinois has been shut down, apparently they did something they weren't supposed to. They currently owe me $375. Having never faced this, is there any way I'm going to get paid for these? In your honest opinions, of course.

Reply by ZeeCA on 2/23/07 2:45pm
Msg #176911

IRS/govt and employees first than creditors...if any $$ left

and if not enough $$ to pay creditors than a court may decided the %

we are not employees so not a primary debt

Reply by ZeeCA on 2/23/07 2:49pm
Msg #176912

btw, GL n/m

Reply by cassiewi on 2/23/07 2:50pm
Msg #176913

Thanks and basically

I better not hold my breath. Grrrrrr

Reply by ZeeCA on 2/23/07 3:11pm
Msg #176915

Re: Thanks and basically usually... I had a company declare

bankrupcty and I got cks 28c on the $ but only got about 5 of the checks ... than they ran out of cash.......

is this a regional or national company?

Reply by TitleGalCA on 2/23/07 9:10pm
Msg #176943

Compose a letter, right now, to the title company's underwriter and include a formal demand. Reference the escrow number and send it certified mail. Follow up just like you'd follow up any company that didn't pay you.

Just because the IRS is involved doesn't mean your service as a signing agent can't be paid. If you don't demand payment, you won't get it.

Don't just give up, without exploring what avenue you have for payment. That's just not good business.

Reply by cassiewi on 2/23/07 10:51pm
Msg #176948

I was hoping you would respond :)

I sent you a private message. And thanks.

Reply by TitleGalCA on 2/24/07 7:42pm
Msg #177081

Cassie, I wrote you privately

but somehow it was deleting without posting and I was too tired to try again. I'll check back with you. Do know you can email me at work - my entire name at that big ole Land company dot com.

Reply by sue_pa on 2/24/07 7:02am
Msg #176976

Maybe someone 'stiffed' by BridgeSpan can tell you what happened in that case. If they 'did something they weren't supposed to' and have been forcibly shut down, I'd guess there's no money in the kitty to pay you.

In 1999 First Plus Direct filed for bankruptcy. I receive very small periodic payments from the trustee. I believe I actually will receive my full fee, plus the 8% interest they are required to pay.