Collections and Instant Funding for HOA’s Delinquencies

Collections and Instant Funding

When your Condo & HOA collections fall short, and you can’t cover all your bills it can be a big problem. Vendors will start to charge late fees and if your association is a late payer they won’t deliver the good service that you have come to expect. Late Payers get poor service. HOA & Condo Delinquencies come at a price and the good paying owners pay the costs. There is not only a cost to pay due to vendor discontent, but the fees required to collect these assessments are expensive as well.

Now, there is a solution for Condo & HOA Delinquencies that will not only recover your past due assessments but provide funding for your collection shortfall. of your shortfall and proceed to recover your money at no cost and no risk to the association. Axela Technologies is a licensed collection agency and specialty finance firm that will advance up to 100% of assessments that have not been paid by delinquent or non-paying owners.

Too Good to Be True.”

Yes, we have heard this, many times but the answer is that we earn our money by collecting the fees and costs from the delinquent owners and if we cannot then the association is not responsible. Our contract has NO SECURITY INTEREST so there is no risk to the association at all. Our fees are the equivalent of the late fees and late interest that your community association is permitted to charge. We don’t bury your delinquent members in “JUNK FEES” so that they can never get out of the hole and the association never sees any benefit from a successful collection event.

Our process is fully compliant with the Fair Debt Collection Practices Act and we report delinquent owners to credit bureaus. We will do a skip trace to locate the delinquent owner and work with them to get their account back on track. We make outbound calls and treat your members with dignity and respect when we engage them over the phone. We do not make robotic-calls or leave messages. We are resolute, but we DO NOT harass your delinquent owners…That’s illegal, wrong and ineffective.

Axela’s  services are innovative, and if your association needs to move the needle when it comes to recovering your money, contact us today.

 

Author:
Mitch Drimmer is a respected thought leader in his field and has led numerous continuing education classes in collections, His articles have been published in key trade journals and newspapers, and he is a speaker at several educational seminars. Drimmer is also a former board member of the Florida Community Association Professionals (FCAP) and earned his company the distinguished FCAP Reader’s Choice Award for collections four years in a row. Throughout his career, Drimmer has worked with community associations to help them see their way through tough times, especially during the real estate crash. He is a passionate advocate for community associations and has participated in the legislative process over the years trying to bring fair and equitable legislation that serves community associations.Drimmer earned a BA in History from Hunter College and served as CEO of Drimmer Industries, Inc. in New York City for 35 years.Email MitchLearn more about our Services

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