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How Bankruptcy Affects Assessment Collection – Article by Sean D. Allen

Posted by AmberPM on November 3, 2011 · Leave a Comment

So, your Association has a homeowner who is delinquent on his assessments. Before you are able to make any progress on collection and before a lien is recorded, you receive notice that he has filed for bankruptcy. What happens next? The moment a debtor files for bankruptcy, an “automatic stay” is imposed. The automatic stay … Continue reading →

Filed under Bankruptcy, Learning Tools · Tagged with Amber Property Management, Association, bankruptcy, board of directors, chapter 13, chapter 7, collections, Condo, creditors, HOA, Lien, Orange County Property Management, post-petition debts, Property Management, Single Family Home, Townhome

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