With the expiration of stimulus relief and the increase in consumer bankruptcies on the horizon, are your current processes scalable to expand?
What to expect when pandemic relief runs its course
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Current Landscape
Growing financial challenges may result in more households and businesses seeking the shelter of bankruptcy.
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With the expiration of stimulus relief and the increase in consumer bankruptcies on the horizon, are your current processes scalable to expand?
Ethos™ Bankruptcy Intelligence
Current landscape
Proof of Claim Filing Pitfalls
How efficient is your system?
01
US Consumer Bankruptcies 2021
Jan
Feb
Mar
Apr
Commercial Bankruptcies 2021
300
500
400
10k
20k
30k
Ch. 13
Ch. 7
Onset of the pandemic
12 months
2.2M home-owners in forbearance
1.8M 90 days delinquent
18 months
24 months
Most relief items expire
End of Q3
Mar 2020
Mar 2021
Apr 2021
Sept 2021
Mar 2022
Bankruptcy by the numbers
2-3
year peak
Bankruptcies stemming from the 2007-2008 financial crisis increased until they peaked in 2010.
Hover over to find out more
Average amount owed by the time a consumer filed for bankruptcy.*
$240K
Average amount months after their first 90-day past-due notice to file for bankruptcy.
22
months
*According to an MIT study of more than 550,000 consumer bankruptcy cases filed between 2001 and 2018.
Manually managing POCs is expensive and costs
02
Proof of Claim Filing Pitfalls
$100s per claim
25%
Projected recovery
for unsecured funds is very low
Unsecured
Ch. 13 Recoveries
Ch. 13 Cases
Dismissed
50%
Prioritize which claims are pursued.
Up to half of Chapter 13 claims could be dismissed.
Mail is expensive
%
Reduction in paper by turning off bankruptcy notices delivered via USPS
0
$4.22/piece*
to receive bankruptcies
• Digitize • Destroy
• File • Flag
Complex process:
*Based on Visa time study + inflation
It’s time to implement electronic notices from the courts, with a technology partner who can consolidate those notices into a single data feed.
Time consuming
03
How efficient
is your system?
Are you manually logging in to each court district for each notice or claim?
Are you manually searching, monitoring cases and filing documents?
Manual process
Tired of working
with PACER? Is your current system directly integrated with the courts for simplified workflows?
Not integrated
The Solution: Ethos™ Bankruptcy Intelligence
If you miss bankruptcies while volumes are low, the problem can be exponentially larger as bankruptcy volumes increase.
Efficient and Accurate
Accounts monitored daily
Daily notifications
Real-time Access
0
$
.
0
B
Database accuracy
%
0
.
0
Automated proof of claim filing engine
Single log-in credentials for all 94 court districts
Single interface
Integrated and Scalable
Bypass PACER with user-friendly interface
Simplify bankruptcy management with automated processes
Ethos™ Bankruptcy Intelligence
Increase recoveries
Lower cost
Reduce risk
Contact us to schedule a demo
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Headquarters
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How efficient is your system?
03
Proof of Claim Filing Pitfalls
02
Current landscape
01
Jun
May
Hover over the graphs
22,402
9,299
22,066
8,645
32,261
10,640
9,321
31,226
8,470
25,954
9,061
24,796
40k
Case details updated nightly
Case details updated nightly
Hover over the graphs
Mar
386
Apr
287
Jan
479
Feb
420
Jun
349
May
246