The collection of assessments is critical to the financial well-being of your Association. A high delinquency rate may negatively impact the ability of owners to sell or refinance their units, may restrict the Association’s ability to obtain a loan, or may interfere with the projects required to keep your community appealing to you and future owners.
Our collections process is intended to maximize your Association’s recovery of not only delinquent assessments but also the legal fees and costs incurred.
| stage one
The goal of Stage One collections is to contact the delinquent unit owner in an attempt to resolve the matter through written correspondence and without the need to file a legal action. Stage One collection activities include our review of the tax records to assure that all owners of the delinquent unit are properly listed with our firm, our initial demand letter as required by the Fair Debt Collection Practices Act, all communications with the unit owner or the unit owner’s attorney, all communications with your Association, and all other activities up to, but not including, the filing of a complaint.
| stage two
Stage Two collection activities begin with the filing of a complaint at the District Justice level. The global fee for this phase of the collection process includes all communications with the unit owner and the Association, preparation and filing of the complaint, preparation of all exhibits, travel to and attendance at the hearing, and all other activities up to the receipt of the notice of judgment. Thereafter, we revert to our hourly rate for services associated with execution on the judgment. Our goal is to achieve a full recovery for our clients in the most efficient and cost-effective manner.
| stage three
The goal of Stage Three collections is to obtain payment from the unit owner of the judgment amount. If possible, we will work cooperatively with the unit owner to obtain payment through a Board approved payment plan. If an amicable agreement is not reached or if the unit owner is unresponsive, we will work with the Association to collect judgment amounts through the filing of Writs of Execution with the Court of Common Pleas. Through this process we will enable the Association to attach delinquent unit owner accounts, force the sale of personal property, garnish rental payments where a tenant is occupying the unit, and if the actual situation warrants, foreclose on the unit itself. Throughout the entire collections process, we remain committed to the goal of collecting the delinquent assessments due to the Association in the most cost-effective and expedient way possible. At all stages, we continue to remain open to working amicably with the delinquent unit owner to reach Board approved resolution of the case while continuously moving the matter forward to obtain payment on behalf of the Association.