Free Bankruptcy Management and Debt Recovery White Paper

The Problem: Bankruptcy Filings are on the Rise. Major increases in bankruptcies are translating into major decreases in revenues for many creditors and collections organizations—especially those who do not have an effective Bankruptcy Management and Debt Recovery Program in place.

The Solution: Leverage technology to implement an efficient Bankruptcy Management Solution, including a streamlined Proof of Claims (POC) debt recovery process.

More than a static legality, bankruptcy is a fluid and changing process, which both protects the debtor and enables the creditor. Move too early and you could be in violation of Automatic Stay. Move too late and you could miss opportunities to recover debt.

With this white paper, you can learn how establishing a bankruptcy management solution can put you in the right place at the right time for improved debt recovery. Request your free white paper now via the form on the right hand side of this page.

Since the turn of the century, annual bankruptcy filings have been continuously increasing at a relatively steady rate. To counter the steady growth, The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was passed and successfully resulted in a drastic decrease in bankruptcies. But the decrease did not last. Within two years, bankruptcy filings began to increase at an unprecedented rate and have continued to do so ever since.

Following the surge of filings prior to the 2005 Bankruptcy Reform Act and the subsequent plunge, filings are on the rise with a 32% increase in 2009 – 1.4 million bankruptcy filings. The number is likely to jump higher in 2010.

The current perception is that bankruptcy records are often perceived as uncollectible. This belief is false. From advanced data analytics to forward-thinking scoring models, creditors and debt collections professionals often employ every possible measure to proactively predict and avoid eventual bankruptcies. But many of these same organizations share a standard policy of removing all bankruptcies from their debtor files as soon as they receive the bankruptcy notice—simply accepting them as losses and an unavoidable cost of doing business.

Some organizations maintain the position that managing bankruptcies requires too much money and manpower to justify the amount of revenue that could be recovered. Others don’t see the value of spending money trying to collect from people and businesses that don’t have money to give (because they are bankrupt).

But statistics show that on average more than 50 percent of bankrupt accounts do have money and therefore, can and do pay some or all of their debts.

The white paper “Bankruptcy Management and Recovery” enables you to learn how leveraging technology to implement an efficient Bankruptcy Management and Debt Recovery Solution can help generate an ongoing revenue stream.

Simply complete the form above to receive your Free copy of the White Paper “Bankruptcy Management and Recovery”.