Collecting assessments from delinquent owners is a little bit like mining for gold. First you have to find the gold.
With delinquent owners getting a judgment is usually the easy part. Next comes the hard part, finding the gold. We have to locate attachable assets to satisfy the judgment. Generally attachable assets come in the form of a bank account or an employer. But there can be other attachable and valuable assets. Some of these include vehicles, boats, recreational vehicles, planes and motorcycles (only if there is no loan against them), valuable collections such as rare comic books, businesses, other real property, significant jewelry. Finding all of these assets isn’t as easy as it sounds. That’s were managers and board members come in. Much like prospectors, you can help find the gold by conveying the following information to us:
- Any phone numbers of record for owners (work, home or cell);
- Employment information;
- Copies of cancelled checks from last payment made by the owner;
- Description of all vehicles, boats, RVs, motorcycles, etc. seen at home (with license plate numbers if available);
- Any information you know about the owners such as they inherited a lot of money recently, they have another house in Aspen, or they have a computer consulting business on the side.
All of this information can be used to find the gold and use it to satisfy the debt owed to your association