Demolition Contractors Credit

Verifying and checking your demolition contractor’s credit is an essential part of hiring a demolition contractor. Why Do you want to verify a demolition contractor’s credit worthiness? Because if a demolition contract does a job, takes your money, but fails to pay his supplies, subcontractors, or employees you can be legally obligated to pay them (again). 

Credit checking your demolition contractor doesn’t completely eliminate the possibility of your contractor “cutting and running”, but chances are a demolition contractor with an established credit record is a much lower risk than a demolition contractor with no credit history or a poor credit history.

So how do you check a demolition contractor’s credit worthiness? The first step is to ask for a couple of credit references. You should ask for current work references from your demolition contractor so combining them with current credit references should not be a huge request. Beware of demolition contractors who won’t or can’t provide references. A refusal to supply references is your first tip that you may be dealing with a less than reputable demolition contractor.

You can also check a demolition contractors credit by using a third party agency. Credit agencies like Experian are offering services to check your demolition contractor’s credit. These third party agencies can actually serve as a valuable double check on supplied references.