The Canon Resumes

The usual mistake after missing a levy payment is going silent, and the silence does more damage than the missed month. Follow one owner who loses a job. The first missed levy is a problem the managing agent notices. The months after it, with letters left unopened and calls unanswered, are what turn that problem into a matter for the scheme's attorneys.

The way back is plain. The owner contacts the managing agent, admits the arrears and proposes an arrangement that can actually be kept, even a small one. Trustees collect levies on behalf of every owner, and most would rather have a realistic arrangement than an expensive collection process. Interest may still run according to the scheme's rules, but the account starts moving the right way. After that the rhythm matters more than the size. One payment on the agreed date proves little. A long run of them, month after month, turns the account back into an ordinary one. Schemes deal with arrears all the time. What they cannot deal with is an owner nobody can reach.