Does Your Collections Agency Specialize in Collections for HOAs?

As the economy has worsened, some companies have begun to look at debt collection as a way to diversify, profit and weather the downturn.

David Stone, founder of Nevada Association Services, Inc. http://www.nas-inc.com) cautions against using a company that considers collections from homeowners associations an ancillary business.

"This area of collections is incredibly complex," said Stone, whose licensed collections agency specializes solely in the collection of delinquent assessments for homeowners associations. "We deal with a lot of state and federal legal issues that very few people have any grasp of. My frustration is that community managers and their affiliated companies pop up to do this type of collection work without any understanding of the liability and complexity that is involved. Lack of experience and knowledge negatively impacts successful collection."

Stone is a qualified manager who has worked in the collections and assessment collections fields since 1991, first at a collections agency in California and for the last decade as president of Nevada Association Services, Inc.

Nevada Association Services, Inc. has a 98 percent success rate in collecting delinquent assessments from government agencies such as HUD and Veteran's Administration, as well as bank-owned properties.

The company collected more than $10 million in assessments for its clients last year at no cost to the associations. By using a process called non-judicial foreclosure, the company can usually achieve results within 30 days and fees are paid by the homeowners as opposed to the HOA.

Stone said everyone on his staff understands all of the nuances associated with delinquent assessment collection. "We focus exclusively on getting the best result for our community association clients."

The company dedicates all available resources to the collection of delinquent assessments and clients can be assured that when the economy recovers Nevada Association Services, Inc. will still be there for them. "This is not a sideline for us - it's what we do and it's all we do," Stone said.

Nevada Association Services Inc. is also a solid community partner. In addition to its membership in the Community Associations Institute's Nevada chapter, the Las Vegas Chamber of Commerce and CAMEO, the company is involved in several other civic and charitable organizations.

Nevada Association Services, Inc. may be reached at (702) 804-8885 or (775) 322-8005 info@nas-inc.com . Andrea Behrens is Vice President, Sales and Marketing.