FAQ'sWhat types of bankrupt accounts do you purchase?We acquire both secured (e.g., auto loans, mortgages) and unsecured (e.g., credit cards, installment loans) bankrupt accounts across Chapters 7, 11, and 13. How does the bankrupt debt identification process work?After signing a Non-Disclosure Agreement (NDA), you can upload your accounts to our encrypted FTP server. We then perform a complimentary “scrub” to identify bankrupt accounts and provide you with a list of eligible accounts along with a purchase offer. What is the BK Advantage program?The BK Advantage program offers a comprehensive solution for managing bankrupt accounts, including identification, management, collection, and purchasing, ensuring a consistent and predictable monthly cash flow. Are there minimum transaction amounts required to sell bankrupt accounts?No, we do not require a minimum transaction amount, allowing for flexibility and timely transactions without delays. How do you ensure data security and compliance?We adhere to industry standards and comply with regulations such as the Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), and Gramm-Leach-Bliley Act (GLBA). Our staff undergo regular training to maintain strict compliance and data security protocols. What is the process for selling our bankrupt accounts to your company?After the initial account review and agreement on terms, a Purchase Sales Agreement (PSA) is executed. Once signed, we proceed with the transaction, and funds are wired to your account promptly. How frequently are account scrubs performed?We perform automatic scrubs at regular intervals, typically every 30 days, to identify eligible bankrupt accounts and provide you with updated results. Can you customize solutions based on our organization's size and needs?Yes, we offer tailored strategies to efficiently manage bankrupt inventory, regardless of your organization’s size, ensuring the most effective approach for your specific requirements. What are the benefits of partnering with Bankrupt Debt Services?Partnering with us provides immediate monetization of bankrupt accounts, transparent bidding processes, and a hands-on approach to customer service, all aimed at enhancing your organization’s revenue and operational efficiency. How can we get started with your services?To begin, please contact us at (800) 518-9248 or email jkoop@bkdebtservices.com. Our team will guide you through the initial steps, including signing an NDA and setting up the account review process. We will also put a forward flow in place and repeat this process every month.