Q: What do I do if I receive a Notice of Bankruptcy Filing? A: You should inform your collections attorney immediately if you receive notification that a homeowner has filed bankruptcy. If we have an active collections file against the homeowner, we are required to suspend further collections efforts against the homeowner while the bankruptcyGo to Resource
Newsletter
Foreclosure of an Association’s assessment lien is an important tool in the collections arsenal. Of course, not every property in every association may be an ideal candidate for this collection tool. Below are the top cues that may help you determine whether a particular delinquent account or property would benefit from the use of foreclosureGo to Resource
In creating reasonable rules following a process will help ensure that the rule is necessary as well as valid: Determine the need for the proposed rule. Good rules accomplish exactly what the board intended them to accomplish. Unfortunately, some associations try to solve a problem by passing rules that are either too harsh or tooGo to Resource
The Colorado Common Interest Ownership Act (CCIOA) requires associations to annually “disclose” the information below within 90 days after the end of each fiscal year: Name of the association; Name of the association’s designated agent or management company, if any; Valid physical address and telephone number for both the association and designated agent or managementGo to Resource
As 2011 nears, many boards and managers find themselves in the midst of budget season. If your community was created after July 1, 1992, it is subject to the budget process laid out in CCIOA. Although this process sets forth lots of requirements, it also creates latitude for associations whose documents set forth more stringentGo to Resource