Ask Joe: What happens to my warranty if the contractor goes out of business?

Reported by: Joe Hart
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Updated: 3/18 12:20 pm
Question:
One of our viewers wrote in with a question about what happens when a company you've hired to do work around your house suddenly goes out of business?
Sheila wrote in saying she's heard that Reno Roofing is no longer in business.  She wants to know what happens to people who just had roofs installed or work done by this company.  She wants to know if the warranty for the work is still honored ?

Answer:
I checked with the Better Business Bureau about this.  They confirmed Reno Roofing has gone out of business, even though the company had an A+ rating with no complaints in the last three years.
  However, the Nevada State Contractors Board told me Reno Roofing still had an active license.
   So what can you do if a company you've hired recently goes out of business ?   The contractors board does have something called the Residential Recovery Fund which will pay out up to $35,000 per contract.   The way it works is you have 4 years to apply with the contractors board if there's a question about workmanship or a warranty issue.
  The contractors board will investigate and decide if a pay-out is warranted. Again each payout can be up to 35,000.
You can call the Nevada Contractors Board at 688-1141 for more information.

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