Navigating the Delicate World of Debt Collection: How To Collect What You’re Owed, Even During Difficult Times
Like the Great Recession and other crises before it, the COVID-19 pandemic has cast a bright light on how community association managers and their clients should handle the collection of past due assessments.
High unemployment and mortgage delinquency rates, as well as eviction and foreclosure moratoriums, have put many associations in a difficult position. They want to show compassion to owners suffering through no fault of their own, but they rely on assessments to maintain and repair common property and keep owners safe.
Of course, collections can prove challenging even when delinquencies aren’t skyrocketing. That’s because owners in default tend to fall into one of three categories.
This Special Report provides expert advice on how you can increase the odds of collecting from every kind of debtor you and our clients may encounter. It includes insights on how to improve collections during both regular times and those periods when developments such as COVID-19 threaten the finances of wide swaths of owners.