Creditors Bankruptcy Service enables debt buyers to increase recovery and reduce expenses with total bankruptcy management service. We offer five distinct bankruptcy-related services.
For each new portfolio of accounts you purchase, CBS offers a bankruptcy screening service to identify accounts already in bankruptcy. This enables you to avoid costly collection efforts and immediately return bankrupt accounts to the seller for credit or replacement.
For every account you own, CBS also provides a daily bankruptcy notification service. We monitor your entire portfolio and notify you daily of those accounts that are involved in a new bankruptcy filing, eliminating the time for a paper notice to be forwarded by the previous account owner. With this prompt notification, you can stop expensive collection efforts up to ten days sooner than with conventional methods. And, if a bankruptcy is filed within the “put back” period, the account can be returned to the seller.
Our bankruptcy coding and mail service will further reduce your costs. CBS can notify you of new bankruptcy filings by locating and coding such accounts in your system. Also, to ensure that all bankruptcy mail is handled properly, you can send us all mail you receive from bankruptcy courts, trustees and attorneys…unopened. We will open, review, and process appropriately, saving you even more money.
The CBS bankruptcy recovery service will increase your income from purchased accounts. When bankruptcies are filed after the “put back” period, we perform all the appropriate work in the bankruptcy process to generate maximum recovery from those bankrupt accounts with recovery potential.
Another recovery opportunity provided by CBS is our dismissal notification service. According to the Administrative Office of the U.S. Courts, almost 50% of all Chapter 13 cases are dismissed. CBS identifies and promptly returns dismissals to you at no charge so that you can immediately resume normal collection efforts as if the bankruptcy had never been filed.