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Lien waiver ? Non payment from company for 4 months

WisconsinLien Releases

I have a gentleman who we did work for, had not paid for almost 4 months, I threatened to take him to court and he said in order for him to mail my check he will need a lien waiver. I feel like this is his way around paying me as I keep hearing stories of him not paying, and he owes employees over $100k . Am I thinking this through right that it will take away my right to sue him in court if I don’t receive payment and send him the waiver. Also I am in Wisconsin where the laws protect him vs I

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