- Jurisdiction
- California
I'm trying to help my elderly parents complete a solar project on their home. The contractor has abandoned the project and we've been forced to hire a lawyer and seek arbitration, which is obviously a serious expense in time and money.
My question involves the financing though. The original contract clearly stipulates a four payment plan, with the last two payments due at the completion of installation and final inspection.
But, the contractor sold the financing for the project to a third party, at which point I'm assuming they got full payment for the project. They've since abandoned the project, leaving my parents with an open trench in their back yard, piles of dirt, sand and garbage everywhere, and a 200 amp electrical cable laying on the ground between the power poll and where it's hot wired into the house's electrical panel.
Negligence and incompetence aside, is it actually legal to sell debt for a project like this before it's been completed? The lawyer compared this to selling a home mortgage or car loan, but that seems quite different than this case. At least in those cases you have a house to live in or a car to drive. In this case the project is an incomplete disaster and they left the house in a very dangerous condition while, I'm assuming, walking away with full payment for the project. Meanwhile, my parents are stuck with a legal obligation to make payments on the financing or face collections, damage to their credit, etc.
Any advice would be much appreciated, as well as any thoughts on how I can continue in my efforts to put these people out of business.
Thanks.
My question involves the financing though. The original contract clearly stipulates a four payment plan, with the last two payments due at the completion of installation and final inspection.
But, the contractor sold the financing for the project to a third party, at which point I'm assuming they got full payment for the project. They've since abandoned the project, leaving my parents with an open trench in their back yard, piles of dirt, sand and garbage everywhere, and a 200 amp electrical cable laying on the ground between the power poll and where it's hot wired into the house's electrical panel.
Negligence and incompetence aside, is it actually legal to sell debt for a project like this before it's been completed? The lawyer compared this to selling a home mortgage or car loan, but that seems quite different than this case. At least in those cases you have a house to live in or a car to drive. In this case the project is an incomplete disaster and they left the house in a very dangerous condition while, I'm assuming, walking away with full payment for the project. Meanwhile, my parents are stuck with a legal obligation to make payments on the financing or face collections, damage to their credit, etc.
Any advice would be much appreciated, as well as any thoughts on how I can continue in my efforts to put these people out of business.
Thanks.
