Our collections
efforts for recovery of past due assessments
from delinquent owners yield outstanding
results. We offer prompt and reliable services
at flat fee rates. This eliminates the
uncertainty of the costs of legal fees in
collection activities and generally results in
full recovery or attorneys fees incurred
during the collection process. We would be
more than happy to meet with your association
to discuss your legal needs. Please contact
Tina Frazier Pace at (919) 856-3940 to arrange
a meeting date.
Collection of Homeowner's Assessments
In today's economy, Homeowner's Associations
are having an increasingly difficult time
collecting association dues from its owners.
There are many legal avenues and alternatives
for associations to use in order to collect
past due assessments. In recent years, our
firm has developed an extensive practice in
homeowner's assessments collections. Following
are some of our most frequently-asked
questions regarding recovery of past due
assessment fees.
How does our
association
protect its legal right to recover past due
assessments from our member owners?
In most
cases, unpaid assessments constitute a lien on
the homeowner's property. You must review your
community's covenants in order to determine
your lien rights in this regard. However, you
must take certain legal steps to protect your
lien and to notify both the owner and any
potential buyers of your right to collect upon
the lien. Our firm can handle the legal
proceedings for you using the following
collection process.
How can your firm assist
us in the collection of past due assessments?
Once we receive a request for collection, we
will open a file and send a Demand Letter to
the delinquent owner, which includes the
proper debt collection language. If no payment
is made in response to the demand letter,
inform us of the same and we will file a Claim
of Lien against the property. Again, if no
response is received, we will either file a
Small Claims action or a foreclosure
proceeding, based upon your wishes. We will
collect the past due assessments, interest,
and actual attorney's fees and costs from the
debtors based upon the stage of the collection
efforts and forward the same to you on a
monthly basis.
What are your fees for
collection of past due assessments?
We charge
for our services on a flat fee basis. That
way, there are no "surprise fees"
and no unexpected legal expenses. Our fee
structure is as follows:
Demand Letter -
$75.00
Claim of Lien - $150.00 (includes
filing fee)
Small Claims Complaint - $150.00
(+filing & service fee)
*Court appearance
- $75.00
*If goes to trial, then converts
hourly fee - $160.00)
Filing Foreclosure
action - $400.00 (+filing and service fee)
Foreclosure Hearing & Sale - $160.00/hour
What if the homeowner declares bankruptcy?
If
an owner declares bankruptcy, such matters are
generally handled by our bankruptcy attorney,
Mr. Douglas Q. Wickham. He charges for bankruptcy
matters at an hourly rate of $200.00/hour.
How
can we begin to recover our delinquent
homeowners dues with your assistance?
You can
either e-mail me at tfpace@hatchlittlebunn.com
or you may call me at (919) 856-3940. I will
be happy to discuss the collection of your
past due accounts either in my office or at
your next Board meeting.
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