BANKRUPTCY RECOVERY SERVICES

CBS manages Chapter 7 and 13 bankruptcy processes, working to maximize recoveries for our creditor clients. We service credit grantors on a national basis, including retailers, banks, credit card issuers, bad debt buyers, auto finance companies and others.

Chapter 7
Action is taken on each secured Chapter 7 account to protect the creditor’s security interest. Unsecured accounts are solicited for reaffirmation in accordance with each client’s policy and criteria. Our procedures for reaffirmation have been reviewed and approved by third party attorneys, auditors and consultants.

Chapter 13
Chapter 13 claims are filed in compliance with the varying local rules imposed by each of the 326 bankruptcy jurisdictions. CBS verifies and monitors each case throughout its entire life until dismissal, conversion to Chapter 7 or discharge. Studies have shown that, without continuous monitoring, more than 20% of the cases will not generate any recovery even though claims were filed. Dismissed cases, which occur in almost half of all Chapter 13 filings, are returned to our clients at no cost so that collection efforts can be resumed.

CBS also provides bankruptcy notification services. With this daily notification you can immediately stop all collection efforts. The obvious benefits to you are the elimination of unnecessary payroll, skip tracing, telephone, mailing and other direct and indirect expenses.

Our bankruptcy coding and mail service will further reduce your costs and increase productivity. With access to your system 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, we will process all mail received from bankruptcy courts, trustees and attorneys, saving you even more money.

A quarter century of recovering millions of dollars for credit grantors has made us partners for profit. We look forward to exploring with you how your bankruptcy recovery can be maximized while reducing operating expenses.