March 1, 2023: Receivables Management Association International (RMAI) is pleased to launch another new educational resource for the accounts receivables management industry, An Overview of Bankruptcy for the Accounts Receivables Management Industry. Within the ever-changing world of recovery management, bankruptcy cases and account management require a specialized understanding of the complexities involved with minimizing risk while maximizing cash recovery. This paper is intended to de-mystify bankruptcy in a manner that originators, debt buyers and servicers of all types of debt will benefit from, in order to enhance internal operations, optimize a bankruptcy outsourcing strategy or implement a bankruptcy debt sale strategy.
An Overview of Bankruptcy for the Accounts Receivables Management Industry covers historical bankruptcy trends, the most widely known types of bankruptcies, why creditors outsource or sell bankruptcy receivables, and how to partner with the optimal bankruptcy vendor. Although not intended to be a fully comprehensive analysis of the bankruptcy process in the U.S., this paper provides an overview of some of the most relevant aspects in handling bankruptcy accounts from a creditor standpoint, especially helpful for originators, debt buyers, and servicers of debt.
“Providing timely education on key topics to our members and the accounts receivables management industry is an important part of RMAI’s work,” said RMAI Executive Director Jan Stieger. “We intend for this new resource on bankruptcy to join our other educational pieces as a benefit to our members and also make it available to others.”
The Bankruptcy Working Group responsible for creating An Overview of Bankruptcy for the Accounts Receivables Management Industry and the effort was led by Al Hochheiser, MauriceWutscher LLP; Rory Liebhart, LCI Bankruptcy Services, and Rui Pinto-Cardoso, Quantum3 Group, LLC.
Find out more and download An Overview of Bankruptcy for the Accounts Receivables Management Industry.
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About RMAI
Receivables Management Association International (RMAI) is a nonprofit trade association representing more than 600 companies that purchase or support the purchase of performing and nonperforming receivables on the secondary market. The RMAI Receivables Management Certification Program is celebrating its 10th anniversary in 2023. Together with RMAI’s Code of Ethics, the Certification Program sets the global standard within the receivables industry due to the rigorous uniform standards of best practice which focus on protecting consumers. More information about RMAI is available at www.rmaintl.org.