HOA collections support (Legal & Finance) for Law firm in the USA

Support resources assist a US Law Firm to comply with assessment collection while reducing staffing costs and delivering timely disbursals to Home Owners Associations (HOAs).

Challenge

A leading US provider of assessment collection legal services for Home Owner’s Associations was struggling to devote sufficient resources to maintain a legal repository of legal documentation and to research, verify and draft demand notices.

Solution

Our Legal Services team collaborated with the client to design workflows and trained in-house resources on the client’s environment and relevant software. To meet statutory compliances the Standard Operating Procedures were captured and aligned with the Service Level Agreements.

The Full Story

Our client, a law firm offers Assessment Collections services to Home Owner’s Associations. Having a large client base of over 1000 they were grappling internally with limited in-house resources in sending out timely collection demand notices. This in turn was creating a domino effect in debt accumulation and delayed recovery for the HOAs.

LDM Global’s Legal Services team took up to the challenge and worked in conjunction with our client’s team. Within 2 weeks, our associates were trained on the client’s legacy systems and procedures.

The first pain point addressed was Assessment Collection Tasks which form the backbone of their business. With our expertise, we created workflows and designed Standard Operating Procedures to ensure complete Statutory Compliance in line with our client’s expectations. It was then a short time before we were commissioned to manage the entire Assessment Collection Lifecycle right from Account Opening to generating Demand Letters.

Our client could see a visible efficiency improvement with dispatches of 3,000 collection demand letters on time, along with a 50% reduction in staffing costs. This established confidence in them to assign Turbo E-Filing activities to our team. As a result, the team size working on this project doubled within a year.

Our additional remit was to handle the client’s Finance & Accounting service which was critical for their cash flow. Our in-house team assisted them with the entire suite of Finance services to ensure a reduction of 50% in payment disbursal time to HOA’s.

With our team’s expertise, we were able to offer flexible scalability options to support any surge of work and new service requirements.