What could you lose in construction lawsuit?

| Oct 29, 2020 | personal injury

It is essential when dealing with a construction matter that you always pay attention to your contract. The contract outlines the legalities of the situation. If you try to break the contract, it could land you in court.

For example, if you are unhappy with the work a contractor does, you should take the contractor to court instead of trying to take things into your own hands by not paying or seeking retaliation in some other way. Otherwise, the contractor could countersue you, leaving you facing a lawsuit and potential losses. What you can lose in such a case is more than you likely think.

The basics

If you fail to pay your contractor because you were unhappy, your contractor can sue you for the money you owe. If this happens and the court rules you must pay the contractor, then Forbes explains that the court can order the seizure of your personal property to pay the damages.

Even if you have your own lawsuit in the case, the court will expect you to pay the damages it orders.

The losses

You could lose some important assets. The court could order a garnishment of your bank accounts, making it difficult to access your own money until you pay the debt completely. You could also end up with liens on your property or losing your home.

When it comes to collecting a judgment, you could lose almost everything you own if the judgment is large enough. The other party can seek legal means by which to get the money you owe.