Bankruptcy is the most complicated issue involved in condo and HOA collections.

While a condo or HOA can collect if a homeowner declares bankruptcy, it is imperative to know what they are doing and how to do it. 

In community associations, the registered agent will receive notice that an owner has filed for bankruptcy and action must be taken. If the association does not respond appropriately, they may not be in line to recover any delinquent assessments when the case is discharged by the bankruptcy court.

Check out this article to learn exactly how to handle this perplexing issue.

Search Articles...

Membership Plans

Subscribe to the Chicago Condo Resource to access our Members Only Content.

Subscribe to Newsletter

August 2022
S M T W T F S
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31