How Big companies can destroy small ones
Field Asset Services (FAS) is a huge company that services homes that are foreclosed on. They hire vendors to do everything from Eviction to repair of each foreclosed home for the banks and investors.
According to their website http://www.fieldassets.com/ they have over 15000 vendors that work for them. I worked for them for over a year and lost everything I had because of the way they pay vendors. As an example;
FAS always sends you a job and asks for bids. They normally have a set price for some jobs, i.e, winterization. But other jobs like debris removal required a bided job and approval. We start the work as soon as the bid is approved by them. This is one example of how unfair this company is. Each bid is sent in with the pictures of the problem at the property. In this case was the debris at the house. My bid was approved for removing 20 cubic yards of debris removal and the job was assigned to me. The job was completed In the timely manner and the final pictures were downloaded to them with our invoice attached. After the job was completed we received an adjustment invoice from them stating that our invoice is adjusted. That meant that their inspector reviewed the job and adjusted the approved bid from the approved 20 cubic yds of debris to 5 Cubic Yds. Now that the job is completed our invoice was changed to 25% of the approved bid. According to them their adjuster said that, he only can see 5 cubic Yds. and not 20. My question is that who was the one that approved the bid? Why my bid was approved for 20 CY? I would have never started the job if I know that I will only get paid for 45 CY. This is a company with deep pocket finding any excuse NOT to pay their vendor the agreed amount. They are ALLOWED to stay in business because they have lawyers in their staff. As the FAS CEO told me. It will cost me more in lawyer fees to collect than I can afford. He was right. FAS owes me about 40K. Yes, 40 thousand Dollars. I do not have any money to retain any lawyer. Specially the fact of being an out of state company has hurt me. This company is located in Texas. FAS have nearly put me in bankruptcy.





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