Is bankruptcy best for our North Carolina HOA?. Problems are NOT due to delinquencies or the usual other causes. They are due to our disreputable

builder, long gone out of business, who cut corners in building materials, foundation construction and qualified labor 13 years ago, causing frequent major repairs now. Our reserves have been gutted and new expenses deplete it as fast as we build it. No one will lend us money because we can't pay it back. Our reserve study forecasts $300K due in less than 3 years. We have a new, unexpected structural problem NOW that will cost almost $200K to replace, and we can't pay for it, so we can't contract to do it. It's not that we can't pay our creditors; we can't even GET creditors. We raised dues to the max and have special assessments.We will add to them again this year, if owners vote to approve them - which they may not do again. But we have less than 100 dues-paying condos and still won't be able to keep up. We also have delinquencies like other HOAs. What is our best course of action at this point? Please give as thorough an answer.as possible. Thanks.