Collections Resources

loading… Compounding interest, late fees, and processing fees can sometimes lead to claims that the association has violated state and federal usury laws. Usury laws apply only to loans, and homeowners association assessments are not considered loans.  Generally, usury laws should not apply to homeowners association late fees.  However, some courts have disagreed with thisGo to Resource

loading… Situation: On January 10, 2012, your association obtains a judgment against a homeowner for the balance, as of that date, of unpaid assessments, late fees, interest, attorney fees, and costs.   In June of 2012, through a wage garnishment, the judgment balance is collected.  Success?  YES and no. Problem: The homeowner has erroneously believed thatGo to Resource

loading… At Altitude Community Law, we take collecting delinquent assessments serious. Did you know that we have dedicated a full-time experienced collector who initiates contact with delinquent owners by making daily outbound calls for files on our Risk Sharing program?  Tom Walters, our collections specialist, has over 20 years of experience actively pursing full paymentGo to Resource

loading… As a board member or a property manager for an association, you might sometimes feel as if you are participating in a “Choose Your Own Adventure” book.  You know the kind, where on every other page the reader gets to choose between two or three options, each eventually leading to one of about fortyGo to Resource