{"id":686,"date":"2020-06-16T18:53:01","date_gmt":"2020-06-16T18:53:01","guid":{"rendered":"https:\/\/verifacto.com\/?p=686"},"modified":"2024-01-29T07:31:28","modified_gmt":"2024-01-29T12:31:28","slug":"bankruptcy_search_bankruptcy_monitoring","status":"publish","type":"post","link":"https:\/\/verifacto.com\/es\/bankruptcy_search_bankruptcy_monitoring\/","title":{"rendered":"Bankruptcy Search and Bankruptcy Monitoring for Auto Lenders"},"content":{"rendered":"

When a borrower files for bankruptcy, lenders suddenly find themselves competing with other creditors trying to recover any portion of the borrower\u2019s limited funds. In most cases, the lender is left wondering if, and when, they\u2019ll ever recover their debt, and if so, how much can they possibly get back?<\/p>\n

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For the last 40 years, lenders have stayed away from the idea of pursuing their debt on a loan when it\u2019s gone into bankruptcy status because of the tiresome and risky hours spent trying to navigate the bankruptcy court. All of this can be done for a portion of a debt they may never see.<\/p>\n

In most cases, if you\u2019re a lender, chances are you don\u2019t have the knowledgeable personnel on your team to handle a bankruptcy case. To acquire this kind of expertise, it can take years of training to understand the main components of bankruptcy law.<\/p>\n

As a lender, you can <\/em>hire a law firm to handle your case, but this can cost thousands of dollars and after time spent attempting to recover your debt, there may or may not be a payout. Overall, when a borrower goes bankrupt, the lender is left in a risky situation.<\/p>\n

Until now.<\/p>\n

With Verifacto\u2019s<\/a> proprietary bankruptcy search application and easy POC (Proof of Claim) system<\/a>, lenders can file a claim in bankruptcy cases to get their debt paid without having to deal with the expensive legal department or hours of wasted processing time.<\/p>\n

POC Filing Technology<\/strong><\/h2>\n

Verifacto\u2019s Easy POC System works by giving the lender a user-friendly platform that handles all of their bankruptcy inquiries without the need of a professional:<\/p>\n