Being in debt is not pleasant and if you do not respond to a debt claim against you within the stipulated time frame, your finances and credit score could be impacted badly. In the past, many creditors walked away from debts, leaving money on the table because the debt recovery process in the Civil Courts …
A Civil debt lawsuit is filed in local courts when there is a dispute between people or businesses over default of payment. Filing a lawsuit is expensive, time-consuming, and stressful. The process goes through various tedious stages and can take years to be brought to a resolution, often resulting in a return of pennies to …
Is that what really happens when a civil debt lawsuit is filed? Is there an easier way? Read More »
No one wants to have a debt judgment issued against them and settling a debt claim is often quicker and more effective than waiting for an arbitration award or civil court judgment. Debt is a strange animal and there could be many reasons why people have not followed up on their legal obligations to repay …
A solid debt recovery strategy is crucial for banks. As a one-off, a defaulted loan at a bank is not ideal, but it is usually a tolerable loss. When many defaults are taken together, non-performing loans en masse can result in the proverbial death by a thousand cuts. In tenuous economic times, during this unprecedented pandemic, defaults …
How to Use Online Arbitration (ODR) as a Collection or Debt Recovery Strategy Read More »
Financial institutions, credit unions, CMBS, and other lenders are all too familiar with non-performing debt and currently find themselves in a unique situation with enforcement mechanisms limited due to the shutdown of many courts and offices, the curb on enforcement by certain authorities, or the perceived cost of enforcement. Each borrower who defaults on a …
The Cost-Saving Measures of ODR Designed to Resolve Debt Read More »
