On January 1, 2014, new legislation went into effect requiring associations to provide a specific written notice to delinquent homeowners. This notice is required prior to turning over a matter for collections to an attorney or collection agency.
The details of the notice are as follows:
a. It must contain the amount due with an accounting of how the total was determined (a running balance ledger going back to a -0- balance is sufficient);
b. A statement as to whether the opportunity to enter into a payment plan exists and instructions for contacting the community association manager and/or board member to enter into such a payment plan;
c. The name and contact information for the individual the unit owner may contact to request a copy of the unit owner’s ledger in order to verify the amount of the delinquency; and
d. A statement that action is required to cure the delinquency and that failure to do so within thirty days may result in the unit owner’s delinquent account being turned over to a collection agency, a lawsuit being filed against the owner, the filing and foreclosure of a lien against the unit owner’s property or other remedies available under Colorado law.