#17947
Jimmy-T
Keymaster

    @scotlandx said:
    No. You can only recover costs associated with recovering the debt, and interest on a strata loan has nothing to do with debt recovery.

    Yes, I suspected that might be the case – wishful thinking on my part.

    Something that might work, though, would be a letter to the non-payers explaining how much they were likely to pay if they didn’t fork out pronto.  Get some estimates from strata  levies debt recovery agencies then put together a note that says something like:

    Failure to pay your levies by this date will lead to the imposition of a 10 percent penalty interest charge (as dictated by the Strata Schemes Management Act) plus, if necessary, all costs associated with the recovery of the debt including fees and court costs estimated at but not limited to $XX.  It is therefore in you best interests to pay this debt as soon as possible before debt recovery action is commenced.

    That should get the backsliders’ attention.

    The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers.