The Nevada Financial Institutions Division has awarded NCS Plus Inc., doing business as RecoverHoaDues.com, a license to act as a collection agency for homeowners associations in Las Vegas.
The company, based in New York, charges $20 to collect past-due amounts, removing legal fees and preventing homeowner associations (HOAs) from filing liens that could lead to foreclosure.
RecoverHoaDues.com uses a phone and letter campaign, skip tracing and legal letters to get homeowners to work with their HOA to avoid being reported to credit-rating agencies.
The company reports it has recovered 40% of delinquent fees nationwide and prevented foreclosures for 781 families in 14 states.
In an unrelated case involving a Nevada HOA and a collection agency, a Las Vegas judge in April 2011 blocked an agency's planned foreclosure of a home for a homeowner association.
Collection agency Nevada Association Services was at the center of legal and political battles over how much homeowners and investors in foreclosed homes should be required to pay for past-due HOA assessments, fines, fees and collection costs.