Reporting To Credit Bureaus: Just One Of The Many Benefits Of Using A Collections Firm

Written by Mitchell Drimmer on . Posted in COLORADO COMMUNITY ASSOCIATION COLLECTIONS, COMMUNITY ASSOCIATION COLLECTIONS, CONDO COLLECTIONS, CONDOS, FLORIDA COMMUNITY ASSOCIATION COLLECTIONS., HOA COLLECTIONS, HOAS

Community Associations such as Condos and Homeowner Associations often have good reason to report non-paying members to the credit reporting agencies. The only problem is that don’t have the ability to do so, and usually it is not a function of their community association attorney who has taken on the collection of this particular debt. Therefore, one of the most important and potent tools that exist for the purpose of effective collections is not being used. So what can a community association do to get credit collection services delivered to them and have delinquencies reported to credit bureaus?

Condo and HOA Delinquent Assessments: Outbound Calls Can Be Very Helpful

Written by Mitchell Drimmer on . Posted in COLORADO COMMUNITY ASSOCIATION COLLECTIONS, COMMUNITY ASSOCIATION COLLECTIONS, CONDO COLLECTIONS, CONDOS, FLORIDA COMMUNITY ASSOCIATION COLLECTIONS., HOA COLLECTIONS, HOAS, SNAP COLLECTIONS

One of the courses of action a community association can take to resolve the issue  of delinquent assessments is an outbound call.  Outbound calls have proven to be a very effective method to get people engaged, informed & paying.  Now, this is not to say that your manager or any member of the board of directors should pick up the phone and start calling, because outbound calls are more then what you may think they are.  Reaching out to delinquent unit owners is a task that requires skill, training, compassion, and in some cases a very thick skin.  The call should be more of a consultation and never a confrontation.  This is why specialists should be engaged for this job.  It should also be noted that outbound collection calls are seldom if ever done by community association attorneys.

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

Written by Mitchell Drimmer on . Posted in COLORADO COMMUNITY ASSOCIATION COLLECTIONS, COMMUNITY ASSOCIATION COLLECTIONS, CONDO COLLECTIONS, CONDOS, FLORIDA COMMUNITY ASSOCIATION COLLECTIONS., HOA COLLECTIONS, Uncategorized

The classic definition of a Zombie Debt simply put “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?