Collections Resources

Ways to Address Increasing Foreclosures and Delinquencies

Filed Under Collections, Foreclosure

Posted September 17, 2011

At the recent Law Seminar of Community Associations Institute, over 500 attorneys from across the country met for two days to discuss a wide variety of issues, especially the economic conditions facing associations. Here is a list of techniques that are being used by associations to address increasing delinquencies and foreclosures: Budget for bad debt.Go to Resource

Usury and Unpaid Assessments

Filed Under Collections

Posted September 17, 2011

Generally, usury laws should not apply to homeowners association late fees. However, some courts have not agreed. Usury laws apply only to loans and homeowners association assessments are not considered loans. However, homeowners and/or their attorneys occasionally attempt to argue that an association’s interest and late fees are usurious. In order to fully protect anGo to Resource

Understanding Your Collections Status Report

Filed Under Collections

Posted September 17, 2011

Understanding what is happening with your association’s delinquent accounts at Altitude Community Law is probably one of your board’s top priorities in these tough economic times. One tool for you to use in fulfilling your fiduciary duty with respect to managing the financial assets of your association is our status report. We produce a statusGo to Resource

Understanding Bank Garnishments

Filed Under Collections, FAQs

Posted September 17, 2011

How Does a Bank Garnishment Work? In your recent status report from Altitude Community Law it says that the court has issued a bank garnishment. Is that good news? What can you expect as a result? These questions and more are addressed below. What is a bank garnishment? It is a document issued by theGo to Resource

Top 5 Defenses in Collections & How to Beat Them

Filed Under Collections

Posted September 17, 2011

Nearly half of the delinquent homeowners turned over to the Altitude Community Law Collections Department either pay off their balance or enter into some sort of payment arrangement relatively quickly in the process. For those homeowners that don’t, it becomes necessary to take the next legal step: filing a county court lawsuit. The majority ofGo to Resource

Collections Resources

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