Some folks are out tens of thousands of dollars. Some even more.
Now, one such contractor has gone bankrupt and has been arrested.
Another is facing allegations and loss of his license.
Meanwhile, the victims (which are growing exponentially) are wondering how they are to be repaid.
One mechanism that is available is the Florida Homeowner's Construction Recovery Fund.
From the Bar Journal article describing this fund:
"The Florida Homeowners’ Construction Recovery Fund (Fund) was established in 1993 in order “to compensate consumers who suffer monetary damages as a result of certain violations by licensed contractors.”1 The Fund’s legislative purpose is to “compensate an aggrieved claimant who contracted for the construction or improvement of the homeowner’s residence2 located within this state and who has obtained a final judgment in a court of competent jurisdiction, was awarded restitution by the Florida Construction Industry Licensing Board (CILB), or received an award in arbitration against a licensee based on specified acts.”3 The CILB is a professional licensing board within the Department of Business and Professional Regulation (DBPR).4 The Fund provides a remedy for claimants that becomes available once the claimant has exhausted diligent efforts to seek reimbursement from the contractor.5"
Florida I am told there is a cap for recovery from this fund of $25,000.00. I'm also told there is significant documentation/paperwork requirements to qualify.
But if you are out tens of thousands of dollars--it may be well worthwhile to go through the paperwork requirements to try and collect some of your money.
Download the claim form here
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