Collections Resources

When Have You Won? How to Evaluate Settlement Offers from Delinquent Homeowners

Filed Under Collections

Posted September 17, 2011

How do you know when you’ve won and achieved your goal in a collection action? Specifically, when should the Board consider accepting less than the total amount of the debt owed by a delinquent homeowner? How should you evaluate settlement offers to ensure the association actually gets the money it’s attempting to collect? It’s alwaysGo to Resource

What To Do With Uncollectible Debt

Filed Under Collections, Foreclosure

Posted September 17, 2011

In today’s economy of rampant foreclosures and bankruptcy filings, it is becoming all too common for associations to be confronted with the unpleasant task of “writing off” uncollectible debt. There are a few common instances when a debt becomes uncollectible. When an owner files a bankruptcy and obtains a discharge from the court, then allGo to Resource

What Do Owners Do with Their Properties After Filing Bankruptcy?

Filed Under Collections

Posted September 17, 2011

With bankruptcy numbers still on the rise, questions continue to abound regarding the impact an owner filing for bankruptcy has on an association…especially when it comes to collection of assessments. Bankruptcy is a means by which a person (which can be an individual, partnership or corporation) seeks relief from debt. If a bankruptcy is successful,Go to Resource

What is the “Robo-signer” Foreclosure Scandal and Why Should Associations Care About It?

Filed Under Collections, Foreclosure

Posted September 17, 2011

Recently, several major national lenders have responded to the so-called “robo-signer” scandal by announcing either freezes or new procedures relating to foreclosures in various states, including Colorado. The scandal revolves around the admission by several low-level employees at national lending institutions that they routinely signed affidavits necessary for banks to complete foreclosures without having anyGo to Resource

What in the World is a “Stip?”

Filed Under Collections

Posted September 17, 2011

“Stip” is common slang for “Stipulation.” A “Stipulation” is a legal term that generally identifies a written document that sets forth the agreed upon terms and conditions of a settlement between two parties to a lawsuit. In the realm of community association collection actions, that generally means a settlement between the delinquent owner and theGo to Resource

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