Salt Lake City, UT – BankruptcyWatch and Nortridge have implemented their consumer bankruptcy monitoring tool as part of their new and collaborative partnership. This feature is now accessible to all Nortridge clients which means they can now detect, respond to and track relevant bankruptcy filings all directly within the Nortridge platform.
This means that Nortridge’s current users, large and small, can now automatically update statuses, prepare Proofs of Claim, and ensure the correct collections activities are taking place when cases are dismissed. Nortridge clients have complete control over the entire integration and added freedom created by automation.
Since BankruptcyWatch provides a direct connection with the court system, PACER, Nortridge users save countless hours sifting through the clunky court websites and get the most up to date and accurate info available. This enables lenders to actually create new revenue opportunities from bankruptcy filings. These opportunities are often overlooked when manually processing new filings and claims.
“This integration opens the door for Nortridge clients to create a new profit center in an area that has historically been viewed as cost-only. This is extremely important for lenders seeking to increase collections while simultaneously reducing risk and potentially convert a loss into something profitable,” said Lance Wickham, President of BankruptcyWatch.
Wickham added that “Nortridge has been fantastic to work with. Their forward looking approach to the bankruptcy process has given their clients easy access to the most comprehensive and cutting edge bankruptcy tools on the market today.”
Greg Hindson, Nortridge CEO stated, “Our clients are telling us that bankruptcy represents a major pain point. After many hours or research and listening to feedback from our clients, we are excited to include this BankruptcyWatch integration as it solves many of those needs.”
Some of the major benefits Nortridge users will get out of Consumer Monitoring include:
- An easy 10 minute set up.
- Instant notifications when a debtor files a new bankruptcy case.
- Automated account updates to include bankruptcy filing data and case information.
- Automated Proofs of Claim creation and eFiling.
- Avoid legal exposure by knowing precisely when to stop collections activities. This keeps lenders from accidentally violating the automatic stay.
- Easily obtain a more comprehensive picture of the financial status of the client and potential client thereby promoting an efficient and effective decision-making.