Collections Resources

Common Collection Terms

Filed Under Collections, Foreclosure, Litigation, Collections, Financial

Posted July 31, 2021

** Originally Published on: Sep 15, 2011 ** We have compiled a list of common legal terms to assist managers and board members with understanding the terminology used when discussing the collection of unpaid assessments. Assessment: The fee an owner is required to pay to the association, typically monthly, quarterly, semi-annually, or annually for suchGo to Resource

Receivership: An Alternative Collection Method

Filed Under Collections, Litigation

Posted July 31, 2021

**Originally Posted on Sep 15, 2011** Introduction A receivership is the court ordered appointment of a rental manager for a property. The receiver (rental manager) is a disinterested person who manages the rental of the property, collects the rents and disburses the rents according to a court’s orders. The receiver should be experienced andGo to Resource

By Kiki Dillie

Why Is It Taking So Long to Get a Collections Lawsuit Served on the Homeowner?

Filed Under Collections, Collections

Posted July 1, 2021

Some of the most common questions about the status of collection files are regarding serving the homeowner: Why does it take so long? I see him at his house all the time; can I just serve him? Why can’t you just leave the lawsuit on the doorstep if she won’t answer the door? Most collectionGo to Resource

By Kiki Dillie

What is acceleration of assessments? When and how should you accelerate?

Filed Under Collections, Manager Resources

Posted January 4, 2021

What is it? If you’ve come to one of our collections classes or read your Association’s Collection Policy, you may have heard the term acceleration. But what exactly is that? Accelerating means calling due all of the year’s assessments now. If it’s January and you accelerate assessments, all the monthly (or quarterly) assessments due thisGo to Resource

By Amanda Ashley

Prepare yourselves: Bankruptcy is Coming.

Filed Under Collections, Coronavirus, Bankruptcy, Collections

Posted May 1, 2020

By Amanda K. Ashley Esq. As we continue embracing our lives and living “la vida covid,” we have few economic certainties. Here’s what we do know: collection of assessments in Colorado has slowed but has not stopped, lender foreclosures in Colorado are being significantly delayed, and many of our friends and neighbors are struggling withGo to Resource

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