New Bankruptcy-Tracking Service Launched

Posted by Orb Staff on August 13, 2009 No Comments
Categories : Mortgage Servicing][u]Corporation Service Co.[/u][/link] (CSC), a provider of trustee services for companies and law firms worldwide, has launched a new tracking service that notifies lenders and servicers if one of their customers has filed for bankruptcy. When a bankruptcy is filed against a lender's debtor, CSC will send a prompt e-mail alert, with key information about the filing, through its new Bankruptcy Tracker offering. According to the American Bankruptcy Institute, 126,434 bankruptcies were filed in July, representing a 34% increase over July 2007 and an 8% increase over June's filings. "With this new service from CSC, financial institutions can receive prompt notice of relevant bankruptcy filings," says CSC Vice President Mark Rosser. "This advance notice enables them to respond to proof of claim filing and other deadlines, and to assertively monitor and protect their interests." SOURCE: [link=]CSC[/

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