HOAleader.com - Tip of the Week - October 9, 2009
Published: Fri, 10/09/09
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HOA Financial Matters: When Garnishment Works in Collections
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You might think that once you successfully sue a resident for
money owed to your HOA or condo association that the hard work is
over. But trying to get paid after winning the judgment is often
where the truly hard work begins!
For a new article we spoke to experts and compiled 6 ways you
can turn your official judgment into money in your association's
bank account. This week's tip explores just one of those 6 tips:
garnishing wages.
"Once you have a judgment, the most typical way to collect is
through garnishment," says Kristen L. Rosenbeck, a partner at
the Mulcahy Law Firm PC in Phoenix, which represents
associations. "You can garnish wages and bank accounts, and
we're seeing that if the debtor has a rental in the association,
you can garnish the rent."
Garnishment is especially helpful when owners have been
foreclosed on or have walked away from their property but are
still employed. "A lot of collecting on a judgment is based on
each state's laws, which have provisions governing garnishment
of wages, accounts, and seizure of property," says Elizabeth
White, a shareholder and head of the community associations
practice at the law firm of LeClairRyan in Williamsburg, Va.
"If you get a lien against the property, that lien may be wiped
out with foreclosure. But if the party has a job or income from
another source, you have the ability to garnish that money by
following your state's law. There are exemptions and limitations
depending on how much the judgment is for and how much you can
garnish. Typically, you can garnish only a certain percentage of
a debtor's income per month. But the judgment is going to follow
the individual person."
Unfortunately, in some states garnishment isn't an option. So as
usual, you need to check your state and local laws to find out if
garnishment is an option for you.
To read more about how to get paid after you recieve a court
judgment, see our new article:
http://www.hoaleader.com/members/340.cfm
Best regards,
Matt Humphrey
President
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Recent articles posted at HOAleader.com:
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HOA Governance: How to Negotiate--and Save Money
Looking for tips that will help you negotiate more effectively
and save money on association contracts in the process? One
expert recommends you focus on a process for effective
negotiation rather than a few tactics that might help you "beat"
your opponent. Here's what he means, and how it can help your
condo or homeowners association.
Click here to read full article:
< http://www.hoaleader.com/members/345.cfm >
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HOA Facilities: Everything You Need to Know About Roofs
You can't properly maintain a vital component of your condo or
HOA facilities--the roofs--if you don't understand how they work
and the type of maintenance that's required to keep them
watertight. Here's a primer on roofs, their components, and how
your condo or homeowner association should maintain them.
Click here to read full article:
< http://www.hoaleader.com/members/344.cfm >
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HOA Rules and Free Speech: When Do Rules Restricting Speech Go
Too Far?
Could your homeowners association prohibit a resident from
placing seven Marine Corps decals on his vehicle? That's what The
Woodlands II on The Creek, an HOA in Dallas, has done, insisting
that the Marine Corps decals on Frank Larison's car are
advertisements that are prohibited by the association's governing
documents. Here's advice on how far your HOA can go in
restricting residents' free speech.
Click here to read full article:
< http://www.hoaleader.com/members/343.cfm >
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HOA Rules and the FHA: Can Your Homeowners Association Restrict
the Number of Occupants in Units?
In today's recession, a growing number of families and even
unrelated people are living together to save money. But when is
enough occupants in one dwelling enough? Is four residents in a
two-bedroom, one-bath condo acceptable? What if that number rises
to six? Is it even any of the condo or homeowners association's
business? Here are answers.
Click here to read full article:
< http://www.hoaleader.com/members/342.cfm >
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HOA Communications: How to Keep Your HOA Message Board Civil
It seemed like such a great idea. Set up an online message board
for your association residents, and they'll discuss community
events and issues, and you'll build a sense of belonging. Then,
some goofus started posting links to inappropriate videos as a
joke. On top of that, members who run their own businesses
started trying to generate business with posts that chat up their
wares and services. The worst part is that some of your most
controversial topics are generating heat, and tempers have flared.
What's a board to do? Here's some guidance.
Click here to read full article:
< http://www.hoaleader.com/members/341.cfm >
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