When servicing loans in bankruptcy, the BK Tri Pack software drives our Chapter 7 "Resolution” procedure, as we proactively and correctly acquire the debtor’s intent. Rather than manually review dockets to determine the Statement of Intent, AIS relies on technology to manage the process.
HOW IT WORKS
Within two days of an account being activated in our system, our engine systemically generates and electronically distributes a "Tri-Pack” to client-qualified accounts giving the debtor three options: Reaffirm, Redeem or Surrender.
The software automatically pulls debtor information from our system of record, along with case information from our proprietary bankruptcy database, to populate a set of documents.
Built-in workflows drive the document review and approval process. When the QC specialist has validated that all information is correct, a system-generated email is sent to Debtor Counsel with the Tri-Pack attached.
FEATURES & BENEFITS
- Web-based application stores all documents, status, timing and activity notes associated with each Tri Pack
- Systemically creates pre-populated cover letter, surrender letter and reaffirmation agreement
- Triggers automated emails to debtor attorneys with Tri Pack attachment
- Raised AIS’ average reaffirmation rate by 25%
- Primary support tool for AIS’s unique Chapter 7 "Resolution” strategy, which saves money and manpower
- More likely to capture the debtor’s actual intent