BANKRUPT PURCHASING
When a consumer goes bankrupt, it can be a very frustrating circumstance. Typically, unsecured non-priority claimants in bankruptcy cases get little to nothing of what they are owed. The small dividend is usually paid over the course of 60 months leaving the creditor virtually empty handed. There are many steps involved in the successful and efficient collection of bankrupt accounts including:
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Knowledge of Chapters 7, 11, and 13 for both secured and unsecured portfolios
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Handling of adversarial proceedings, preferences and other legal actions
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Segmentation of portfolios to address individual geographic and account needs
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Electronic interface with clients, courts and national databases
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Challenge to credit abuse cases and selected Chapter 13 plans
The business model of BDS provides in-depth knowledge by court, trustee and local counsel to ensure compliance with each unique court and trustee requirement. We often secure equitable agreements with debtors' attorneys well in advance of Section 341 hearings. By providing timely and responsive legal representation, we obtain a high number of reaffirmation agreements and voluntary surrenders of collateral.We handle all motions, objections, adversarial proceedings and other legal matters that might arise on the accounts we are servicing. We receive daily updates on bankruptcy filings, utilize national trustee databases, receive electronic bankruptcy notifications, and file claims electronically with the courts. We continuously monitor the status of our accounts for changes in case filings including discharges and dismissals.
By partnering with us to liquidate your accounts you can avoid all of the many steps involved in this process while at the same time receiving cash upfront!