Financial stress impacts strata owners who can’t pay levies on time and strata buildings that need those levies to keep operating.
But, it’s not just a simple debt collection matter when that happens [or it shouldn’t be] as it’s about people’s homes and livelihoods and often everyone’s neighbours too. And, as we noted in the Daily Post Strata Debts Sending more Aussie Apartment Owners Bankrupt strata levy judgments make up a disproportionately high percentage of personal bankruptcies.
So, it’s hardly surprising that the Financial Rights Legal Centre has become interested in strata levy debts and helping strata owners suffering hardship making payments in their strata buildings.
The Financial Rights Legal Centre is a community legal centre specialising in financial services, particularly in the areas of consumer credit, banking, debt recovery and insurance. We offer advice and advocacy for people in financial stress. And, in 2023 they handled more than 8,300 credit and debt issues of which 3% [or about 250] were strata related.
That’s not many. But, it could easily [and probably will] increase as their interest in strata and strata levy stress increases.
And, they operate on government grants, Legal Aid revenue for services and industry sector grants and financial support.
You can find out more about the Financial Rights Legal Centre and the things they can [and can’t help with] here.