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David Stone: President of Nevada Association Services
David Stone, president of Nevada’s largest debt collection service for homeowners associations, says business has boomed in the past two years, with delinquencies up 40 percent. He says those who don’t pay their dues put an unfair burden on those who do.
Monday, Aug. 17, 2009 | 2 a.m.
HOA Collections
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David Stone is president of Nevada Association Services, the state’s largest debt collection service for homeowners associations. In practical terms, that means if you fall a few months behind on your dues, your HOA hires Stone’s agency and it sends you a certified letter, asking you to send a check, call or come into Stone’s office. From there, Stone’s company tries to arrange immediate payment, payment on an installment plan, payment out of the sale of your house or, worst case, foreclose on your house.
Do people ever give you grief for being in collections?
When people ask me, “Don’t you feel bad about what you do?” I say, “No, because the people that I’m trying to help are the people that are following the rules.” When someone doesn’t pay, it means that the people who do pay are on the hook for more money when the pool needs to be repainted or the tennis court needs a new net.
It’s never uncomfortable?
Well, the other day we had two parents and a kid come in. He was translating for his parents. That tore me apart, a little kid here. I felt bad. A little kid shouldn’t have to hear words like “foreclosure.”But it worked out. They’re on a payment plan.
How do you approach a collection?
Everything we’re about is resolution. We want the HOA happy, we want the homeowner happy. It happens to a lot of people. We’ve seen millionaires, local entertainers, entertainers from California. Today’s successful person could be in financial trouble tomorrow. And vice versa.
Have you been busier than usual lately?
We’ve grown each of our 10 years in business, but it just exploded in the last couple of years. Not the revenue — I wish — but the delinquencies. They’re up 40 percent — another couple of hundred a month. We had to add a night shift to handle the paperwork.
And personally?
I used to be out by five. Now I don’t get home until maybe 8:30. I’m going to HOA board meetings; often I’ll go from meeting to meeting. I feel like a rock star on tour.
Do you live in an HOA?
I lived in half a dozen HOAs in the last 18 years. I love living in an HOA. It’s clean, it’s safe, if my kids go play in the park, I don’t have to worry. I wouldn’t live outside of a homeowners association.
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Its a shame he doesn't have the nads to go after the banks that own so many properties.
Why is a short interview with this shylock sob considered newsworthy?
David Stone said:
"I love living in an HOA. It's clean, it's safe, if my kids go play in the park, I don't have to worry."
This implies that the rest of America is dirty and unsafe. A true insight into the way these anti-social people think.
With an HOA you get corporate, cookie cutter, cardboard houses built 6 to an acre where you pay grumpy busy bodies to write you a fine for any display of individualism. Of course you get to huddle behind your walls and gates, terrified of the outside world and the strange looking people who lurk in it.
The American spirit is truly dead.
Rules ?you talking about rules ????? When you charge freaking $135 for sending a simple letter and forgot about your mailing fees is following a rule ... You are living in a different world Mr., all you care is about how to get rich out of poor people who are losing their jobs and their houses!
This person is the epitome of disgust! He lacks integrity, morality and ethics. Make no mistake, he is not out there to help any homeowner in any sense of the word. He is out there solely to make a buck at any cost! He a perfect example of the "bottom feeders" existing in society. Making money from some who have experienced hardships, be it medical/loss of jobs/divorce. Those few stories he conjured up to attempt to show a compassionate side, are a joke and if were true, why would he have to relay them in attempt to reassure anyone about his character. A related story from an employee at a bank, his office staff can barely manage answering the phones, let alone day to day business transactions, not sure where he found them?? Very unfortunate any recognition is given this low-life character!
Stone's comments about working with the homeowner are not true. I have been trying for months to work with his agency. His agency recorded a lien against our home even though we have proof that we've paid all our assessments. The HOA changed management companies and our payment went to the prior company resulting in a $25 late fee that has now resulted in NAS insisting that they are entitled to approximately $1,000. No one at his agency is willing to review the bank statements I've sent showing the account has been paid. It's extortion! If we don't pay then the fees and fines go up exponentially each month.
This organisation is borderline criminal. They are not regulated by any state office or maybe
paying off other corrupt state officials. This is purely extortion and needs to be addressed in
Federal Court.The way out here is to pay your HOA
fees in advance and avoid this pack of wolves !
I wish you luck with your class-action lawsuits
it is not an "if" but "when". At least this is
happening in America where it will be under control at some point.