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Mr. Wonderful - Kevin O’Leary of ABC’s Shark Tank on the importance of Sperlonga’s Credit Reporting

Craig Huntington, President of Alliance Association Bank talks about credit reporting with Sperlonga

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Case Studies: Benefits and Results  

What were you doing before Sperlonga?

"Before engaging with Sperlonga, going through our AR reports each month to get accounts paid current was a very manual process. It was a big time suck for our community managers."

What are you seeing now after engaging with Sperlonga?

"After we started working with Sperlonga, it automated that whole AR process, and took a lot of that time consumption out of our managers monthly routines. The results were amazing. Over the first eight months, we've been able to recover $265,000!"

Adam Clark, Operations Manager, Excel Association Management

What were you doing before Sperlonga?

"We were following the same kind of archaic ritual for collections that everybody was. We would send demand letters, we would follow up with the lien, and get a judgment."

What are you seeing now after engaging with Sperlonga?

"It really has streamlined our efforts, and our attorneys efforts. After 3 years, delinquent accounts are down 68% and we have recovered $288,000 for the associations. I would highly recommend using Sperlonga's credit reporting."

Robert Phillips, President, GNO Property Management

What were you doing before Sperlonga?

"We were probably doing the same thing everybody was doing, we send out statements every month to everyone who has a balance, and then most of our clients have a collection policy which has some kind of increased enforcement. After X many days they get a nasty gram from the board saying you need to pay up or you're going to go to collections and they get 90 or 120 days."

What are you seeing now after engaging with Sperlonga?

"We just recently signed another one of our associations up to be a Sperlonga client. We haven't even started reporting for them yet and they sent out a notice to their neighborhood that said that they were going to report delinquencies to the credit bureaus. That week the board president called in and said, "boy, that works so well. So many people came in and paid their assessment, we're so happy." It's been very effective for us and for our clients. Since we started associations have recovered $317,000 and delinquencies are down 44%."

Michael Crew, President, Homeowner Management Services

What were you doing before Sperlonga?

"The typical thing that most management companies do, sending out the typical demand letters and that doesn't work. Getting an attorney involved, sending out those demand letters and then following the regular process of filing liens and lawsuits. Before we signed up with for Sperlonga there was no proactive tool that we use to try and reduce the collections."

What are you seeing now after engaging with Sperlonga?

"90% of our communities signed up and I run the reports we have consistently reduced their delinquencies by 30%! That's without us taking any other action. I would recommend it to everyone else except my competitors, this is a tremendous service. It reduces the workload on all your association managers. When you reduce 30% of your workload just on demand letters every month, it frees you up to actually go out there and manage an association."

Sheldon Wheeler, President, DANA Properties

What were you doing before Sperlonga?

"Keeping on top of the attorneys was about all we could do. We’d send out our late notices and then we’d send them over to the lawyer and try to do more than hope for the best."

What are you seeing now after engaging with Sperlonga?

"Of the associations we had on Sperlonga, in the first year, they collected 30% more of their delinquencies each month than our other associations not using credit reporting."

Chris Majerle, President, Majerle Management Inc.

Sperlonga - Assessment Credit Reporting Overview

Sperlonga empowers non-traditional creditors and debt owners by aggregating and facilitating the reporting of alternative credit payment history each month to credit bureaus. We offer a proactive solution that can help improve the financial health of homeowner associations, multifamily property owners, timeshares, and self-storage businesses. As a full service data aggregator, our service reduces delinquencies, improves cash flow, positively impacts credit scores, and equalizes the importance of alternative credit and debt payments.

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