The Title of the Article is somewhat misleading. Buczek Enterprises hasn’t completely closed up shop … yet. With rumors abounding about bankruptcy, I figured I had better reach out to Sources and get the table level. See, that is the problem: If you want ACCURATE information, Foreclosurepedia is where you need to come to — we have an app for that! 😉 So, let’s start with the originating email which I have verified from three sources,
From: Buczek Enterprises [mailto:xxxx@buczekent.
Sent: Monday, March 17, 2014 4:29 PM
Subject: Buczek Enterprises LLC will stop accepting new work orders on Tuesday 03/18/2014
Due to circumstances beyond our control we are hereby notifying you that on Tuesday March 18th, 2014 all new work orders submitted to Buczek Enterprises, LLC. will be rejected. We are unable to make exceptions to this timeframe and request that you immediately work to identify the impact to your business and make adjustments as necessary. All work orders submitted prior to 11:59pmEST on Monday March 17th, 2014 will be accepted and completed.
Buczek Enterprises LLC is undergoing a strategic re-evaluation of its entire business model and coverage area. Due to this evaluation and the time it will take to reorganize the business, we are hereby terminating our business relationship and will be unable to continue to provide services to your company.
We will actively pursue all outstanding open invoices and expect to be paid per our contractual agreement for services provided and invoiced. This was not an easy decision to make and if there was another alternative, we would pursue it; however, constant downward pressure on pricing made the current business model unsustainable.
If you have any questions, please email email@example.com which will be monitored by executive management. Our client relations teams have been instructed to direct all inquiries to this email box and will be unable to provide you further information on this matter. Should there be an opportunity to work with your company again, we would welcome the opportunity to do so.
I broke the story several months ago that this was coming down the pike. In all fairness to Buczek Enterprises, they were hammered by a fellow National Association of Mortgage Field Services (NAMFS) Regime Member. That is little consolation to Contractors, though. If you go back through the Articles I have written about Buczek Enterprises you will find plenty of Contractor Complaints in the Comments Sections.
The reality is that whether or not Buczek Enterprises wanted to Play the Game straight or not, all National, Regional and Otherwise Unspecified Order Mills are involved in Ponzi Schemes; some willingly and some unwittingly.
Amanda Buczek, Adam’s sister, made a recent change to her LinkedIn Profile. Up until recently, it had read Amanda Buczek; several days ago it read Amanda Lewis which is her married name from a couple years back. For Google SEO purposes; from a Collateral Damage point-of-view, it was probably a wise move. To Contractors, though, it begins to set off alarm bells.
What do we know and when did we know it? Well, if you were an ISTAR Member, you would have known about this situation and the 29 other Current Alerts over two months ago. How do you become a Member? We invite you and you pay the Consortium. The reality is that ISTAR Membership is similar to an Insurance Policy. The four ISTAR Members whom had Buczek Enterprises as a Client were able to extricate themselves early on and were paid in full.
Sources speaking on condition of anonymity at Buczek Enterprises stated,
Here’s a company [Buczek Enterprises] that actually wants to do the right thing (and does), has no malice or fraud in it’s operations, looks at the scammers in this business so we can be as far away from that associated as possible AND wants to have good working relationships with staff and contractors has the potential to go sideways because some basic business fundamentals weren’t executed properly. It’s emotional and it sucks.
The original computer/accounting glitch that caused the initial issues with a backlog were resolved a couple months ago but then they were compounded with very slow A/R. Over the last couple months, the amount of charge backs to us from clients (that were not always passed through to the vendor), denied disputes from clients, continued downward downward pressure on pricing and unfair discounts from our clients (in addition to bids getting rejected or cut to the point where now the vendor would be losing money) made it impossible to continue operating the way we were.
Now, ISTAR has the entirety of the information which is not going to be released here. The reality is that Buczek Enterprises is not filing for Bankruptcy … today. They may not at all. What is the reality is that Buczek Enterprises is playing chicken in a dangerous world. Tomorrow morning Amanda and Adam could Lien every property which is outstanding — you NEVER want to sue, you want to Lien — as the No Lien caveats in Contracts are null and void, ab initio. That would make Buczek Enterprises financially solvent at an upper 80 percentile by my best guess and obviously put them in the just and honorable capacity to pay the Contractors whom they are using as proxies to shoulder the burden of their unwise and in my opinion cowardly position they are currently in.
The ramifications of this are enormous. Debbie and Dan Buczek are the last NAMFS Regime Legacy Members. Debbie was named the 2011 NAMFS Volunteer of the Year. Debbie and Dan joined NAMFS in 1995 when there were only 50 or so NAMFS Regime Members. She, like Heather Berghorst, owner of Berghorst Enterprises, have been the Face of NAMFS for decades. As we all remember, Berghorst fell to the same situations of Industry Constriction with a litany of Contractors crucified in the wake.
Foreclosurepedia, vis-a-vis ISTAR, have agreed to Consult to several Contractors as of tonight’s publication. The outstanding valuations owed are in the TENS OF THOUSANDS OF DOLLARS WELL PAST THE ONE HUNDRED AND TWENTY DAY MARK. Our recommendation has been to Lien each and every property. I believe that when the dust settles, the fallout from what I predicted over two months ago will be the equivalent of a Bank Run. This, in turn, will eventually force the Portfolio Holders and ultimately both financial institutions and the US Government by and through the Consumer Financial Protection Bureau (CFPB) to begin to scrutinize the unregulated and corrupt Mortgage Field Services Industry.
This is just the beginning. For those in the Drive By Social Media whom have always stated this would never happen I am sad to point out your inept understanding of the Industry. I am tracking four Super Regionals whom are in far more dire straits than Buczek Enterprises — hell, simply take a look at the NEARLY SEVEN MILLION DOLLARS HomeStar confessed to being under the gun for!
My predictions of the demise of Contractors are unfortunately coming to pass. With the usurpation of the very Guild I formed and the Contractor – Order Mill rackets whom supported such, they are reaping that which they have sown.
Over the next several weeks I will be opening up the Consortium to New Membership. When the Guild was seized and corrupted I implemented the OPLAN for such a contingency and we have been sailing smoothly ever since — we have been watching Rome burn down while safely and quietly moving forward with Investors and Portfolio Holders whom have been testing the waters. Our Clients and Contractors have engaged in both fruitful and profitable endeavors.
The reality is that most people have NO IDEA precisely how bad it is going to become over the next several months. With two massive Class Actions and one ENORMOUS Qui Tam being filed soon, the Industry which cannot pay its Ponzi Scheme Labor pool will be eviscerated. This, combined with the strategic CFPB Investigations, will bring implementation of my OPLAN to fruition.
The Buczek Enterprises collapse will be the first in a Domino Effect which will resonate along the Eastern Seaboard. When appropriate, I will release information on the other Firms whom will begin to issue out similar edicts to both their Labor and Clients. Most ISTAR Members are already aware of these FireWire Updates; unlike those in the now defunct National Property Preservation Guild (NPPG), Members in ISTAR are thriving. They thrive and prevail because they have the capacity of the Triad which is our Motto: To Know, To Dare and To Keep Silent.
If Buczek Enterprises continues to refuse to take legal action three things are certain: Buczek Enterprises will never regain its status as a Premiere NAMFS Regime Legacy Member; Buczek Enterprises may very well have to file for protection (this is guaranteed if Contractors make a run on the monies owed which default upon a multitude of Contracts); and Portfolio Holders, Financial Institutions and Government Sponsored Enterprises (GSE) will become embroiled in litigation which will forever reshape the Mortgage Field Services Industry.
At the end of the day the Industry may thank Herr Eric Miller, Executive Director of the NAMFS Regime. Miller, WHOSE SALARY IS WELL OVER ONE HUNDRED THOUSAND DOLLARS PER YEAR AND CONSUMES NEARLY SEVENTY PERCENT OF ALL MEMBER DUES, has played the key role in allowing the Industry to implode. His incompetent non leadership; his fattening of his wallet on his salary while attending functions like the NAMFS Regime’s Texas Fraud Festival currently ongoing, will remain as a testament to his character. When this sordid chapter in the Novel of Corruption is written; when the stain of Herr Miller’s legacy continues to blot and tarnish each and every NAMFS Regime Member and sympathizer for years to come, Herr Miller will poke his pudgy finger at the NAMFS Regime Rank and File and laugh. After Herr Miller is gone and collecting ENORMOUS AND OBSCENE Consulting Contracts; as Contractors and their families are packing their boxes into the Salvation Army Lodges because of the fraud wrought upon them, Foreclosurepedia will still be here like a Lone Voice in the Wilderness attempting to help those remaining See The Light.
I would suggest to Buczek Enterprises that they reach out back channel and at least pretend to give two shits about Labor. It is well and good that they are making the Drive By Social Media Circuit Tours like the Obama Administration. What is lacking, as in the Obama Administration, is substance. So far, all that Buczek Enterprises seems to want to do is ply the masses with rhetoric about how it is unfair to them and they are trying to do the right thing.
DON’T TRY TO DO THE RIGHT THING, F#%KING DO IT!
This is the First Part in a Three Part Series. Make no mistake, you DO NOT want to miss the next installments!