Worst case? As you'll see here, they stop paying or never pay. Many of us here are smart enough to search this site, Watchdog, D & B before agreeing to work with any company that approaches us but sometimes I've still been burned (Docs RN was good when I checked, then suddenly posts were showing up of non-payment, Prestige was "referred" by one of our clients supposedly but it was a former employee who started her own company and then flew the coop after $1700 in orders from us).
Companies in this industry simply change names if a claim is filed against them so they can get E & O and say they've never had a claim and may change to bilk their vendors out of payment or for a slew of other reasons. It's much cheaper to set up a new entity than it is to pay a claim or pay thousands in owed invoices. In any real estate transaction, refi, REO or purchase, we're the only ones not guaraneed payment. Appraisers, lawyers, title companies, Realtors, banks -all paid. The least expensive part of any transaction... the search and we get beat up for pricing and then often have to spend time trying to collect. I was actually threatened with a libel suit and extortion from a deadbeat client when I told him I was posting here and reporting him to his local bar association. It's amazing how rude and aggressive they can be when you ask them for what's owed (we did finally get payment from Justice Title).
Gee, I'm just the Welcome Wagon from Abstracting World today aren't I?
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