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delinquency management

 

Delinquency Management

The effective, non-threatening approach espoused by Willdan Financial Services to collecting past due assessments provides property owners with the opportunity to avoid judicial proceedings. By mailing multiple informative notices, Willdan Financial Services has recognized the following results:

  • Higher success rates than attorney or collection agency methods
  • Improved cash flow
  • Lower administrative costs
  • Fully recovered fees upon cure of delinquency
  • Reduction in the need to foreclose on properties
  • Willdan Financial Services also works closely with agencies and their legal counsel when foreclosure becomes the only remedy.

As needed, we will establish procedures to monitor and manage the payment status of bills. These services may include:

  • Providing the agency with a list of delinquent accounts
  • Sending a courtesy reminder notice to delinquent property owners
  • Sending a notice of overdue account to delinquent property owners
  • Notifying property owners of intent to foreclose
  • Preparing materials for the agency to process foreclosure actions
  • Liaison between property owner, agency, attorney
  • Delinquency database management
  • Foreclosure covenant compliance