Recent Bankruptcy Laws Creating New Opportunities for Collection Agency

The debt collection process in the United States has changed dramatically, and in the course of the shakeup a new company has ascended to the forefront of the industry. E.E.C. Financial takes full advantage of the most recent changes in US bankruptcy laws, to collect debts on behalf of its clients with a rate of success and efficiency previously unheard of. This personal debt recovery firm reports a success rate of more than 70 percent on the cases they pursue, with the majority of debt in those cases resolved within the first 90 days. In fact, most of their cases are negotiated quite favorable to their clients prior to costly legal battles.

The standard attorney process of pursuing outstanding debt often takes several years, and frequently results in the accumulation of prohibitively expensive attorney’s fees. Sometimes the process even takes long enough to afford the debtor enough time to bury, or bankrupt all available assets, making them unrecoverable.

"Less than 30% percent of judgments are ever collected and an even higher percentage never complete the lengthy legal process," explains Jeff Marcelli, spokesperson for E.E.C. Financial. "Most people just drop their cases because of excessive attorney fees and personal frustration."

E.E.C. Financial makes the personal, and corporate debt recovery process affordable and efficient for its clients to utilize. E.E.C. can investigate the debtors’ ability to pay back the debt without the need to pay retainers and deposits to E.E.C. Generally, it does not cost E.E.C. clients anything to determine if their debts cannot be feasibly repaid or to get other helpful debt recovery advice from E.E.C.

When E.E.C. Financial determines the debt can be repaid; they immediately begin intensive research, which frequently uncovers hidden assets, third party transfers, offshore corporations and other-persons held assets, which would normally block the debt recovery process. E.E.C. credits their ability to use these tactics in part because of changes in the bankruptcy law. They quickly discovered this very process results in prompt and satisfactory negotiations for its clients and their debts.

Standard debt recovery legal advice has changed dramatically as a result of the law update, which was enacted because of expanding increases in bankruptcy filings and increased losses to creditors. Added to these reasons is the potential for bankruptcy abuse even though the debtor has the ability to repay the entire debt.