Copy of Collections
Published on Jan 03, 2016
No Description
MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
Collections Policies
- When is the assessment "delinquent"?
- Late fees & interest?
- Timing of demand letters
- Turnover to attorney
Fines
Photo by Steve Snodgrass
Foreclosure Process
- Determine equity
- Determine other lien holders
- File foreclosure suit
- Right of Redemption
Personal Judgment
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Personal Judgment Process
- 30 day & 10 day demands
- File lawsuit
- Answer filed = trial set
- No Answer filed = default
- Collect on judgment through writs and garnishments
Bankruptcy
Photo by kevin dooley
Chapter 7
- Liquidation of assets
- Eliminates pre-petition assessments
Chapter 13
- "wage earner" bankruptcy
- 3-5 year plan
- Association receives payments
Automatic Stay
Photo by kenteegardin
Settlement & Payment Plans
Photo by nerdcoregirl
Other Remedies
- Terminate Utilities
- Access to Amenities
- Suspend Voting Rights
