There’s no escaping it! Delinquencies are everywhere. As delinquencies seem to increase, associations are coming more and more frustrated with the state of their collections accounts. It is precisely for this reason that boards should become familiar with the collections process and what can and can’t be done under the law. This class focuses onGo to Resource
Collections Resources
With the recent uptick in the economy, individuals have more disposable income, which has attributed to an increase in small claims lawsuits getting filed against associations. Small claims lawsuits fall into one of three primary categories: 1) an alleged failure to follow or enforce the governing documents; 2) an alleged failure to properly and uniformlyGo to Resource
One of the greatest challenges community associations face is the collection of past due accounts. As nonprofit organizations, the cash flow provided by payment of dues and assessments is vital to the association to function and fulfill its responsibilities to the community. Nonpayment or delinquent payment of dues affect all homeowners in a community and prevent anGo to Resource
To make a collection case successful, it is important the association be able to document the origin of the debt. If an association cannot show where some or all of the debt comes from, the likelihood of recovery becomes very slim. This article will address the documents that are essential for a successful collections action.Go to Resource
Bankruptcy … it’s the “four-letter word” that nobody wants to hear. There are two types of bankruptcies that most individuals file. A Chapter 7 bankruptcy (also known as a “liquidation” bankruptcy) will, upon completion, discharge the owner’s debt as of the date of filing. A Chapter 13 bankruptcy (also known as a “wage earner’s” bankruptcy)Go to Resource