NV HOA Collections — Credit Reporting Collects 52.4% of HOA Assessments
Credit reporting has proven to collect 52.4% of HOA accounts nationally, without foreclosure . When someone says credit reporting doesn’t work, ask yourself, “Are the people saying this the same ones who prosper most from the lien and foreclosure process?” Credit reporting is the inexpensive 21st century solution, and used early in the delinquency cycle it motivates neighbors who are behind to get in touch with their Board or management firm. This has proven to collect 52.4% of late HOA accounts early in the delinquency cycle, without burying families in legal fees.
Our timeline utilizes skip tracing, a phone and letter campaign, and an attorney written demand to communicate to your homeowners the importance of making payments directly to your HOA (or management firm), in order to avoid being credit reported to Experian, Equifax, and TransUnion. Our online system also documents everything for your Board to review: from your homeowner’s actions, to our internal efforts, to your management firm’s compliance — all in real time. And all for a one-time flat fee of $20 per delinquent account.
Our recovery system allows mercy to be shown to those who deserve it, time to facilitate payments for those who need it, and a fair justice for those who warrant it. Credit reporting impacts homeowners (not their property), and used early in the delinquency cycle it effectively motivates homeowners to make payment arrangements to get current on their dues. Call and ask to speak with one of our clients near you!
Credit Reporting HOA Dues is Approved for Use in Nevada
Enacted by Congress, The Federal Fair Debt Collection Practices Act allows property-related debts (like association assessments and fines) to be credit reported as ”consumer debts’, and thus approves the use of credit reporting for association assessments and fines in all 50 States (see CA, NV, TX specific laws). NCSPlus, as a national collection agency, is licensed in all 50 states where it is required.