The business of collecting outstanding HOA dues is often fraught with roadblocks. Payment promises are routinely broken, checks bounce, debtors are self-employed or frequently change jobs making wage garnishments ineffective, and bank garnishments often yield pennies on the dollar compared to the cost of issuance and service of the writ. If you are a board member or a community manager, you are likely familiar with the array of most commonly utilized collection methods, but you may not be familiar with receiverships. A receivership is a fantastic collection tool for recouping funds owed to an association and, when all the stars align, works like a charm to bring in funds. You may be wondering if this is such a great option, why isn’t it used more frequently? As with every great tool, there is a catch – or several in the case of receiverships.    Read the article……………………………….