Tag Archives: collections

Policies, Procedures, Rules, Regulations, and Resolutions: What’s the Difference??

You’ve, no doubt, heard the terms “policies, procedures, rules, regulations” and “resolutions” used many times in the industry.  But have you ever wondered what all these different terms mean and whether there is a difference as to which term you use?  Despite popular belief, there are subtle differences in these terms, which are outlined in the below checklist.  As you will see from the checklist, there are also several similarities between and overlap of the terms.

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Meeting Minutes and why we need them

The minutes of a meeting document the decisions made during the meeting. This provides a permanent public record of positions and actions taken by a board. The secretary of the board is responsible for maintaining all official records, including the minute book of all board meetings. All states require that the associations keep minutes of their meetings and these minutes be available for inspection by the membership.

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Bankruptcy FAQs

By: Kristen N. Dillie, Esq.

Q: What do I do if I receive a Notice of Bankruptcy Filing?

A: You should inform your collections attorney immediately if you receive notification that a homeowner has filed bankruptcy.  If we have an active collections file against the homeowner, we are required to suspend further collections efforts against the homeowner while the bankruptcy is pending.

If we do not have an active collections file against the homeowner, we recommend you forward the notice to your collections attorney anyway.  We are able to access the Bankruptcy Court’s records and can file any paperwork necessary to be sure that the association is protected throughout the bankruptcy proceedings.  We can also monitor the proceedings and update you as to any significant developments in the proceedings.

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