Bankruptcy Receivables
Management (“BRM”) maintains a separate unit operating
under the moniker of “BRM Recovery Services” for
collection of third party debts that are not discharged
in bankruptcy or subject to a bankruptcy proceeding. The
primary focus of this unit is judgment collections and
it began as an outgrowth of BRM’s own needs in this
area.
Since many of BRM’s clients employ California’s small
claims courts as part of their internal collection
process, in many cases they are left with a significant
number of accounts that are reduced to judgment, but
remain uncollected because they have been unable to
convince the debtor to pay willingly or they have been
unable to locate and/or execute on one or more of the
debtor’s assets.
As a result of BRM’s own efforts in collecting on
judgments it has obtained both in Bankruptcy Court and
in various state courts, BRM has become skilled in the
area of judgment collections. These skills are utilized
by a number of BRM’s clients to collect on their dormant
judgment accounts. In addition, these clients have the
assurance of knowing that these same accounts will be
handled correctly by a collection agency that
understands the distinction between a contractual
obligation and a judgment, and will treat the account
properly in the event the judgment debtor is forced to
file for bankruptcy.
In addition to judgment collections, there are a number
of other account types related to bankruptcy where BRM
Recovery Services’ third party collection expertise is
utilized. Typical examples of these types of accounts
that are problematic for a typical collection agency
include:
-
Past due
reaffirmation agreements
-
Nondischargeability judgments
-
Non-bankrupt
cosigners
-
Community debts of
non-bankrupt former spouse
-
Post-bankruptcy
purchases
-
Dismissed
bankruptcies
When it comes to
bankruptcy-related consumer receivables, BRM is
unmatched in its ability to meet the complete spectrum
of its clients’ recovery needs.
