Collections for condos and HOAs require you to consider this, The Fair Debt Collection industry has established an objective test based on “the least sophisticated consumer”.  The purpose of this is to protect consumers. Some are Harvard Graduates and others are less educated and there are always the very clever.

Yes, times have changed and people are no longer walking away from their houses and condos because they are underwater but some things stay the same. Is your condominium or HOA still using coupon books to direct owners to pay? Does your management company have a dedicated call center to discuss payment matters with owners? Are people still paying your condo or HOA late every month. Most important, is your management company prepared to handle collections legally, properly and at no cost and no risk? Is your association handling it’s Accounts Receivable correctly?

Written by: Mitch Drimmer
Every business has their share of those who are unwilling to pay what they owe, and this happens often in Homeowners and Condominium Associations. If you come across unresponsive members, you should be ready to act. Regarding community association collections one option is to hire a collections agency to do the work for you.

A recent study conducted sponsored by a major credit repair firm and conducted by Harris Poll asked specific questions related to what people understand about credit scoring, how they are arrived at, and the information that is taken into consideration to determine them.

The study revealed some surprising information.  Eventhough credit scores affect Americans in many important ways including the price they pay for credit and insurance many people are mis-informed about the entire process.  This is shocking as your credit score can not only affect your ability to get credit but also impact on your ability to obtain employment.