Another reason to absolutely insist on advances! Chrysler owes a TON and do you think the agency vendors are going to really get paid?
2 Replies to “Hope you got paid”
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Leslie Burns' non-lawyer presence
Leslie Burns' non-lawyer presence
Another reason to absolutely insist on advances! Chrysler owes a TON and do you think the agency vendors are going to really get paid?
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Very timely story, Leslie. Not too long ago, a Tucson ad/PR agency announced that it was going to turn all of its employees into independent contractors. It was a cost-saving move, and I’m curious as to what the IRS will think of it.
That being said, they were doing business with a large local mortgage company that imploded in 2007. AFAIK, the employees of that company have yet to receive their final paychecks.
Important point Leslie. We all need to remember that we are extending unsecured loans to businesses for which we do work. If they have financial difficulties or dispute payments there isn’t a whole lot you can do as an unsecured creditor. Typically, photographers don’t have deep pockets so unless there is a copyright infringement on top of the non-payment there isn’t much leverage there. Even then ….
An advance is more than simply covering out of pocket expenses, it’s a show of good faith. Any company that is unwilling to discuss down payments should raise red flags.