So you get a notice that an owner has filed for Chapter 13 bankruptcy. What to do? If you said, “close the file and write off the balance,” not so fast! Here are 5 things that every manager and board should keep in mind. Deadlines Pass by Quickly. Bankruptcy court is efficient and fast, at…
Category Archives: Bankruptcy
Chapter 7 Bankruptcy Basics
Many condo and homeowner associations are experiencing an unprecedented rate of bankruptcy filings by owners. Some are current on their dues when they file, some are not. Many file to try and discharge condo or homeowner dues. Both homeowners and associations alike benefit, however, from knowing some bankruptcy basics, so consider this your “bankruptcy boot…
Category Archives: Bankruptcy
Chapter 13 Bankruptcy: 5 Things You Need to Know
So you get a notice that an owner has filed for Chapter 13 bankruptcy. What to do? If you said, “close the file and write off the balance,” not so fast! Here are 5 things that every manager and board should keep in mind. Deadlines Pass by Quickly. Bankruptcy court is efficient and fast, at…
Chapter 7 Bankruptcy Basics
Many condo and homeowner associations are experiencing an unprecedented rate of bankruptcy filings by owners. Some are current on their dues when they file, some are not. Many file to try and discharge condo or homeowner dues. Both homeowners and associations alike benefit, however, from knowing some bankruptcy basics, so consider this your “bankruptcy boot…
