Today's bankruptcy environment is very complex. The approximately 94 different court jurisdictions all have unique requirements that must be tracked in order to effectively manage a bankruptcy portfolio. Most software programs currently in use in the industry were retrofitted onto general collections systems and asked to integrate the intricate legal and commercial aspects of collecting bankrupt debt. They simply can not do so.
BKTrakker™ is unique in that it was built from scratch specifically as a bankruptcy recovery system. Most collection systems have only a few fields available to store bankruptcy data. BKTrakker™ has over 1000 fields of bankruptcy data on every case, from the court location to the minute details of a Chapter 13 Plan. BKTrakker™ also tracks parameters and requirements between bankruptcy courts, judges, and trustees, including the ever-changing guidelines for Chapter 13 plan collateral values and interest rates. The attention to court-level parameters helps to safeguard the lender against violations of the law. The ability to have such detail readily available on a case allows BKTrakker™ to drive the case forward, watching for exceptions that require attention, and maximizing collections. The data that BKTrakker™ maintains allows an account to be tracked simultaneously on multiple levels instead of being restricted to one queue only; this helps to ensure that no step ever gets overlooked.
Additionally, BKTrakker™ systemically utilizes and accesses other resources, such as the courts' Pacer websites, trustee websites, NADA automobile valuation tools, and supports the integration of Electronic Case Filing ("ECF") and Electronic Bankruptcy Notification ("EBN") currently utilized by better than 65% of the bankruptcy courts, which significantly expedites the case from start to finish.
Minimizing expense through applied technology and maximizing collections in a responsible manner makes BKTrakker™ the perfect answer to any bankruptcy recovery question.