CONCORD SERVICING’S COLLECTIONS TEAM ASSISTING PENSACOLA-BASED HOSPITALITY MANAGEMENT COMPANY

Concord Servicing’s Default Collections Team is pleased to announce their significant success in recovering delinquent maintenance fee assessments during the first year of partnering with their newest client, Pensacola-based Condominium Management Services, Inc. (CMS). Concord was retained by CMS last year to focus on delinquent accounts at the timeshare properties they manage in Biloxi, Mississippi, and Destin and Pensacola Beach, Florida.
According to CMS President Kay Maye, Concord made an appreciable difference to the bottom line. She says, “After working with your collection team for the past several months, I am very pleased to advise that our decision has been a blessing!

“The default collection staff has proven to be very responsive to our needs on a daily basis.  They have even assisted our management company with improving our collection practices and policies to be in better compliance with the Florida statutes regarding the collection of timeshare receivables.”
“Kay engaged Concord to help organize and manage a recovery program after CMS decided to outsource the HOA default collections function to a professional collection team,” comments Concord Director of Default Collections Arnie Logvin. 

Furthermore, Kay mentions “…owners now recognize that CMS means business and that we will be using Concord’s services on an annual basis to collect on the fees as soon as they become delinquent.  This firm policy is going to add to the financial stability of the resorts, and this is a very important factor in our relationship with Concord.”

Her resorts had been forced to send out multiple, large special assessments after damage from hurricanes Ivan and Dennis. Concord’s professional collection staff was able to recover a substantial sum on CMS’s delinquent accounts.
“We were very pleased to have been able to cure and bring current so many of their owners,” Arnie continues. “We think Kay appreciates our partnership approach, which allows us to consult with her in a manner unlike most agencies. For instance, she and I call one another about two or three times a week to discuss accounts. We’ve established a united and no-nonsense approach and the owners respect that.”

Kay adds, “I am also happy to advise that, due to Concord getting off to such a good start with collections, we have decided to assign additional delinquent receivables from our recent special assessment.”

Concord Servicing Corporation’s default collections services are available to timeshare, fractional and other resort entities throughout the U.S., Mexico and Canada. Concord Servicing is the vacation ownership industry’s largest independent provider of loan servicing and collections and handles such activities as billing, payment processing, reporting, customer service and collections on behalf of developers and/or management entities involved in the resort industry. The company’s software, which currently handles more than 500,000 consumer accounts, earned the ARDA Circle of Excellence (ACE) Award for Innovation in 2004.

Concord Servicing Corporation’s corporate headquarters are located at 4725 N. Scottsdale Road, #300, Scottsdale, Arizona 85251. For more information, visit www.concordservicing.com or contact Karen Graham at (800) 685-8736, (480) 998-7585, ext. 119 or kgraham@concordservicing.com.