Collections for HOAs and Condos
condo collections, community association collection agency, HOA collection agency, condo collection agency, HOA delinquencies, Condo Delinquencies, HOA Collections,

Community Association Collections…Helping out the Debtor…Really

Community association Collections or for that matter any debt that is delinquent often deteriorates into a bitter cycle of pain.  The property owner may fall into hard times and cannot afford their payments due to unforeseen consequences, and an unfortunate process begins.  First, there is the courtesy notes from the association and then if that fails to result into a payment the matter is sent to either an attorney or community association collection agency for action.

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condo collections, community association collection agency, HOA collection agency, condo collection agency, HOA delinquencies, Condo Delinquencies, HOA Collections,

What is“Zombie Debt” and What Is Your Community Association Doing to Collect It.

The classic definition of a Zombie is “the undead.” That is to say a person is dead but still has some features of being alive so in essence they are not “totally dead.” It sounds creepy, and it is creepy, but in almost every community association in these United States there lurks “Zombie Debt.” Zombie Debt is best described as money an association has written off because a bank has foreclosed and there were dues owing that the association never received. The mistake is that this debt is not dead and much like a Zombie it still lives and can be collected. So why have not boards of directors and management companies not attempted to collect this Zombie Debt?

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HOA & Condo Collections
condo collections, community association collection agency, HOA collection agency, condo collection agency, HOA delinquencies, Condo Delinquencies, HOA Collections,

HOA & Condo Delinquencies Is Still A Problem

With the economic recovery it would seem that community associations are out of the woods and happy days are here again. Sorry, but no. According to the Community Association Institute (CAI) the average delinquencies nationwide is north of 5% and that is still not acceptable.

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