No Initial Fee Assessment Collections
Assessment Lien and Foreclosure Services

The “No Initial Fee Assessment Collection Service” offered by Michael T. Chulak & Associates provides the following benefits to homeowner associations:

  1. No up front fees or deposit is required. All fees and costs are billed directly to the delinquent homeowner.

  2. Unlike lien services that offer only non-judicial foreclosure services, the judicial foreclosure procedure we often utilize, provides two ways to collect delinquent assessments. First, a judicial foreclosure permits the association to force the sale of the property if payment is not made. Secondly, a money judgment permits the association to seize wages, accounts receivable, bank accounts, stock and other property. Thus, the judicial foreclosure procedure substantially increases the chances of your association collecting delinquent assessments as compared to the non-judicial procedure used by lien services.

  3. The collection results obtained by starting a judicial foreclosure are excellent. The threat of a lawsuit is very intimidating, resulting in most debtors paying their delinquent assessments quickly.

  4. Our assessment collection service is attorney supervised. Thus, we make certain that the collection process fully complies with the California Civil Code, the Federal Fair Debit Collections Practices Act and your association’s CC&Rs.

  5. Our HOA assessment collection attorneys monitor real estate lender activity by means of the public records and provide advice to your association board on what collection action is most cost effective given all facts to be considered.

  6. While only a small percentage of delinquent homeowners file for bankruptcy protection, our bankruptcy attorneys can provide your association's board with any available options should it be necessary.

  7. While homeowner associations are rarely faced with the option of foreclosing on a property, our assessment collection attorneys can advise your board on all aspects of foreclosures. We can also provide advice on dealing with any occupants, management, insurance, and the disposition of the property.

You may ask: Why do lien services use only the non-judicial foreclosure process to collect delinquent assessments? The answer: Only attorneys can practice law by filing lawsuits and using the courts.

If your association is experiencing delinquent assessments, call us today for a no cost consultation and review our Legal Services Retainer Agreement.


 





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