An Overview of Bankruptcy for the Accounts Receivables Management Industry (January 2023)
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. Maintaining a comprehensive strategy for default credit and collections and implementing best practices with respect to handling bankruptcy receivables in an efficient and compliant manner is imperative. This paper is intended to de-mystify bankruptcy in a manner that will benefit originators, debt buyers and servicers of all types of debt in enhancing internal operations, optimizing a bankruptcy outsourcing strategy or implementing a bankruptcy debt sale strategy. The Bankruptcy Working Group was 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.