The January 1, 2014, deadline for HB 1276 (the HOA Debt Collection Bill) compliance is almost upon us, and some associations have decided to update their collection policies without the assistance of attorneys. Below is a list of the minimum information that must be contained in associations’ collection policies as of January 1, 2014.
* Total due
* Whether an opportunity exists to enter into payment plan
* Instructions for who to contact to enter into payment plan
* Name and contact information for the person who can provide the owner with a copy of a ledger
* Failure to enter into play or cure the delinquency within 30 days may result in legal action or account getting turned over
to collection agency
For more information concerning the necessary updates, or to request an update to your community’s collection policy, please contact one of our attorneys at 303.432.9999.