Finance

Have Finance Questions? Ask a Financial Expert Online.

Ask an Expert,
Get an Answer ASAP!

Finance

How can a Homeowners Association collect a debt dues when

Customer Question
How can a Homeowners Association...
How can a Homeowners Association collect a debt for delinquent dues when the owner has been declared bankrupt & the bank has acquired the property & persauded the court to extinguish their debts?
Submitted: 1 year ago.Category: Finance
Show More
Show Less
Ask Your Own Finance Question
Answered in 52 minutes by:
1/13/2016
Financial Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 12,883
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

Hi - I hold a JD (Juris Doctorate, a doctoral degree in the law), concentration in Tax Law & Corporate law, an MBA (specialization in finance & tax), and BBA from Mercer University’s Stetson School of Business and Economics, as well as CFP® and CRPS designations. - I can help here

...

Please don't shoot the messenger here, but you can't

...

When a Debtor files a bankruptcy case, asomethingn called an "order for relief" is entered.

...

As you might guess, from the name ofthe order, the order for relief grants the Debtor some strong protections under the bankruptcy code.

...

Doesn't matter whether they file Chapter 7 or 13, they obtain the full protections of the "automatic stay" once they’re in bankruptcy.

...

The automatic stay refers to a part of the bankruptcy code that mandates that all collection efforts must cease once a Debtor files a bankruptcy case.

...

There are some exceptions, like repeat filers, or for certain specifically excluded types of debt, but those are rare and if you believe for some reason that the automatic stay doesn’t apply in your situation, you should contact an attorney licensed in your state to help you.

...

Violations of the automatic stay, even unintentional, quickly become very costly. It may not seem fair, but if you do not heed the Debtor’s bankruptcy filing and cease all collection, you'll very likely end up facing an order for you to pay the Debtor money on top of having your debt wiped out.

...

Now, if the person (or their attorney) wasn't thorough enough to include this IN the bankruptcy estate, then the minute the bankruptcy case is discharged you can begin collection proceedings on this accrued debt.

...

Further, the dues themselves, (if your charter and bylaws would still consider this person a member) aren't debt, they're fees ( a bill ) not a balance, a liability on his personal balance sheet, so there's no reason - again, as long as you still consider him a member - that you cannot continue to bill for current fees.

Ask Your Own Finance Question
Financial Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago

Here's an excellent overview of some of these issues from the attorneys at Nolo.com

...

http://www.nolo.com/legal-encyclopedia/creditor-trying-collect-debt-during-bankruptcy.html

Ask Your Own Finance Question
Financial Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago

Let me know if you have questions

...

Lane

..

Ask Your Own Finance Question
Financial Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago

Hi,

I’m just checking back in to see how things are going.

Did my answer help?

Let me know…

Thanks

Lane

Ask Your Own Finance Question
Financial Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago

Let me know if you need more detail here...

...

If this HAS helped, (andyou don’t have additional questions on this),I'd really appreciate your positive rating …(by using the stars or rating request on your screen) … … That’s the only way I'll be credited a portion of what you've paid JustAnswer.

...

Thank you,

Lane

Ask Your Own Finance Question
Ask Lane Your Own Question
Lane
Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 12,883
12,883 Satisfied Customers
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986

Lane is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Rakhi Vasavada

Rakhi Vasavada

Financial and Legal Consultant

2,608 satisfied customers

Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years

Megan C

Megan C

Certified Public Accountant (CPA)

2,218 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

Manal Elkhoshkhany

Manal Elkhoshkhany

Tutor

1,919 satisfied customers

More than 5000 online tutoring sessions.

JKCPA

JKCPA

CPA

844 satisfied customers

Bachelors degree and CPA with Accounting experience.

Eric

Eric

Financial Manager

559 satisfied customers

Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.

R. Klein, EA

R. Klein, EA

Accountant

480 satisfied customers

TurboTax Expert. QuickBooks Certified Pro Advisor

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

332 satisfied customers

NASD Licensed Rep, 1997-2001, Business Attorney

< Previous | Next >

Related Finance Questions
I inherited my father's IRAs. I have accounts with Fidelity
I inherited my father's IRAs. I have accounts with Fidelity and Schwab. One of my Schwab accounts is titled Inherited; the other is listed as a Roth. The Fidelity account is listed as an IRA. My quest… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Are you familiar with Chapter 7 and tax consequences? I have
Are you familiar with Chapter 7 and tax consequences? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I got a chapter 7 discharge in 2016. 1. Do I need to report
I got a chapter 7 discharge in 2016. 1. Do I need to report my discharge on my tax return in 2016 and if I do, how do I do that since the Judge in a chapter 7 never determines exactly how much money w… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
I find myself in serious dept mostly credit cards. ( Over
I find myself in serious dept mostly credit cards. ( Over $140,000 ) I'm curious if any of these companies that say they can settle with the credit card companies at a lowered amounts and set you up w… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
2,218 satisfied customers
Owned a house in 2010 with a $800,000 mortgage on it.
Owned a house in 2010 with a $800,000 mortgage on it. Couldn't afford the payments and had to move out of state for work. The mortgage servicer, Nationstar, has not moved at all to foreclose - the bal… read more
Lane
Lane
JD, CFP, MBA, CRPS
12,883 satisfied customers
I need to fill bankruptcy on my credits cards and medical
I need to fill bankruptcy on my credits cards and medical bills What chapters would you recommend, and where would I start? , Thank you… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
481 satisfied customers
I have a substantial amount of US Savings Bonds. I know I
I have a substantial amount of US Savings Bonds. I know I have to pay taxes on the interest except for educational purposes. Do I get this benefit if I pay off my grandson's college tuition debt?… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I was in contact with Lucy last night re a query regarding
I was in contact with Lucy last night re a query regarding someone wanting to purchase an old stock that I had that I had deemed to be ''useless''. I have some paper work that was to be signed by me t… read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
How can a Homeowners Association collect a debt dues when
How can a Homeowners Association collect a debt for delinquent dues when the owner has been declared bankrupt & the bank has acquired the property & persauded the court to extinguish their debts?… read more
Lane
Lane
JD, CFP, MBA, CRPS
12,883 satisfied customers
I am trying to modify my home mortgage loan, I was denied
I am trying to modify my home mortgage loan, I was denied for not having enough income, the bank said I can add a income contributor, my question, is there any rule of thumb formula ( criteria) that m… read more
Lane
Lane
JD, CFP, MBA, CRPS
12,883 satisfied customers
Here is where we left off. "Scenario: husband owes irs taxes
Here is where we left off. "Scenario: husband owes irs taxes though plans to do an offer in compromise. wife owes no taxes. Can you set up a trust for a house co-owned by both, if there is a final not… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
No assets except a 1979 Caddilac that I paid cash. I
No assets except a 1979 Caddilac that I paid for in cash. I owe $15,00.00 to credit cards. My only income is about $20,000.00 from SS. I pay spousal support of $4800.00 annually. Can my car be repo'd?… read more
Dimitry K., Esq.
Dimitry K., Esq.
Attorney
Doctoral Degree
332 satisfied customers
Please review the attached Case: it comes from chapter 7 of
Please review the attached Case: it comes from chapter 7 of this book ISBN10NNN-NN-NNNN . This is a link to what I have on the case so far. https://www.dropbox.com/s/ik1lv3h456dx99k/AOL%20draft.doc I … read more
F. Naz
F. Naz
CA Finalist & Completed B.com
275 satisfied customers
I have 7 accounting questions with a 3 hour time limit... I
I have 7 accounting questions with a 3 hour time limit... I would need them completed by Wednesday at Midnight and I will pay 100USD for them completed. Please let me know as soon as possible.… read more
F. Naz
F. Naz
CA Finalist & Completed B.com
275 satisfied customers
I am 100% Disabled USMC. Aloso SSDI and State of ND ...
I am 100% Disabled USMC. Aloso SSDI and State of ND disability payments. Recently a law firm and our bank seized all our moneys over a pending judgement. I informed the law office that since my wife w… read more
martyburbanklaw
martyburbanklaw
Post-Doctoral Degree
5 satisfied customers
Does Chapter 7 or 11 apply to single persons whom are ...
Does Chapter 7 or 11 apply to single persons whom are in a financial mess like the corporations?… read more
Guru_Guy
Guru_Guy
Doctoral Degree
1,634 satisfied customers
my home is in forclosure and i am currently unemployed and ...
my home is in forclosure and i am currently unemployed and we have over $100.000 in credit card debt my husband just got a Pastorship in Agusta georgia and they have given him a monthly salary of $23o… read more
Dirk
Dirk
Bachelor's Degree
10 satisfied customers
I have just recieved a large sum of money from a workcomp ...
I have just recieved a large sum of money from a workcomp settlement. I have paid off the remaining balance of a bankruptcy. I have also judt sold my house. I want to move to Florida to be near mu bro… read more
Dave Z
Dave Z
Self-Employed
Bachelor
418 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x