Welcome to Creditor Guide
Creditor Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Creditor Recovery Corporation
from:The newly developed creditor recovery corporation is an extremely massive system that has been recently developing in our country. It provides creditor companies with a solution to the constant and increasing problem of non-payment, slow payments, or totally delinquent accounts--while they are still collectable. A system management business that operates as "client service bureau," the creditor recovery corporation business is used with a combination of services that are combined with the most advanced forms of technically developed electronic data interchange to get the job done.
One such example of a creditor recovery corporation, MaxCollect, offers creditor companies with debt problems a unique solution that is considered to be highly effective in collecting all areas of debts. Another creditor recovery corporation company, MAXIMUS, is a company specializing in government and industry solutions that has recently contracted with the government student loans department for financial recoveries.
But regardless of the name of the large corporation, the creditor recovery corporation is a big business currently being used to seek out non-paying consumers who cannot pay their bills for one reason or another. They work for the smaller businesses, larger organizations, and the old-fashioned "ma and pa corner business" at a negotiable fee of $10 to $25 dollars per consumer—all in the name of a very valuable commodity, "Increased Cash Flow!"
The traditional credit agencies which have attempted to assist the many creditors, but have not been able to achieve a high success. It has been decided by both businesses and the creditor recovery corporation, that credit agencies produce poor results and charge too much of it. The new systems fill a time frame between the billing dates of 60 days, and the 180 days when a credit agency is approaches, increasing the cash flow. It has been found that the older the bill is, the less likely it will be paid.
The process of the creditor recovery corporation business is quick and proactive:
• Initial mailing of a bill, statement or invoice
• Sending a letter from the internal collection division
• Collection phone calls are made
• Third party is contacted, such as an attorney or collection agency
• Credit bureau report
• Litigation with less than 1% of all external collections collected upon
The creditor recovery corporation uses the last five components of the collection process, which involves the above 2 through 6 steps. With the new recovery corporation using their automated and systematic internal system, the debts are collected faster, expenses are cut, and there are more satisfied customers. And meanwhile, the collection agencies are being eliminated and more money is being put into the system.
Creditor News
Mattel Sues MGA Entertainment, CEO For Illegal Transfer Of Creditors' Money ... - RTT News
 Boston Globe | Mattel Sues MGA Entertainment, CEO For Illegal Transfer Of Creditors' Money ... RTT News ... Entertainment Inc. and its chief executive officer Isaac Larian of fraudulently transferring over $480 million to deny Mattel its money as a creditor. ... Mattel Sues MGA, CEO Larian Claiming Illegal Transfer After Bratz Verdict |
Trib creditors zero in on Zell - New York Post
 Reuters | Trib creditors zero in on Zell New York Post The judge overseeing the Tribune bankruptcy case yesterday appointed a mediator to try to hammer out a settlement after dueling creditor groups failed to ... Judge appoints mediator in Tribune bankruptcy case Tribune Talks to Be Guided by Mediator Mediator appointed for Tribune Company bankruptcy |
Tribune Delays New Reorganization Plan to Continue Talks With Creditors - Bloomberg
 Los Angeles Times | Tribune Delays New Reorganization Plan to Continue Talks With Creditors Bloomberg That alliance was built on an April agreement among JPMorgan and Angelo Gordon and creditors Law Debenture Trust Co. and Centerbridge Credit Advisors to ... Tribune continuing talks with creditors Tribune Files No New Bankruptcy Plan Tribune decides against filing new reorganization plan now |
Creditor says Innkeepers may get $236 mln investment - Reuters
 Miami Daily Business Review | Creditor says Innkeepers may get $236 mln investment Reuters Aug 31 (Reuters) - Midland Loan Services Inc, a creditor of Innkeepers USA Trust INKPQ.PK, said asset management firm Five Mile Capital Partners LLC has ... Tronox, Tribune, Circuit City, Visteon, Lehman: Bankruptcy Innkeepers Can Borrow $53 Million in Bankruptcy Five Mile Commits $237M To Innkeepers |
Fulton creditors' review time extended - Arizona Republic
Fulton creditors' review time extended Arizona Republic 4, 2010 12:00 AM A US Bankruptcy Court judge on Thursday gave the creditors of Fulton Homes Corp. two more weeks to review the Tempe-based homebuilder's ... |