LM Funding gives you cash TODAY, your attorney does not. You still owe your attorney for collection work. LM Funding pays attorney collection costs and expenses.
No, it’s not a loan. LM Funding shares an interest in the collected proceeds on a unit by unit basis.
LM Funding has no maximum funding amount. Through our detailed underwriting process, we will determine how much money can be provided on a unit by unit basis.
LM Funding pays legal fees and collection costs whether or not a collection is successful.
LM Funding hires licensed Florida Attorneys and their skilled staff to collect on your behalf. They follow the strict collection guidelines as laid out in Florida Statutes. There are no shortcuts to successful collections.
Does LM Funding file credit reports, make robo calls, or take any other non-judicial collection actions?
No. LM Funding never exposes the association to unnecessary risk, especially with ineffective tactics. After 14,000 collection events, we know what works.
We will accept all accounts that are delinquent. This includes the really old ones and the newest ones.
Associations are under no obligation to assign every delinquent account to LMF.
What if an association has some delinquency issues, but not enough to affect its ability to pay bills?
LM Funding is a better collection solution no matter how many delinquent accounts you have. Carrying any amount of bad debt is never ideal, especially when LM Funding can provide no obligation cash and free collection services. The sooner we get involved; the sooner delinquency issues can be controlled.
Does the association have to repay LM Funding for money funded if LM Funding is unsuccessful in collecting the debt from condo owners?
No. LM Funding assumes all risks associated with collecting delinquent assessments and in the event we are unsuccessful in collecting the assessments funded to the Association, the Association has no financial obligation to LM Funding. In no event will the Association ever have to write LM Funding a check for any amount.