Recent Bankruptcy Laws Creating New Opportunities for Debt Recovery Firm and Clients
The rate of civil litigation in US courts continues to increase every year, making it continually more difficult to complete a debt recovery lawsuit in its entirety. Even when the suits are concluded, most are not ultimately settled. However, changes in bankruptcy laws that became effective in October 2005 have allowed E.E.C. Financial, an executive debt recovery firm, to recover millions more for their clients in the last year than would have been possible before the law change.
(PRWEB) February 26, 2007 -- 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.
To obtain debt recovery information or to enlist E.E.C. Financials corporate, or personal debt recovery services, please visit eecfinancial.com.
About E.E.C. Financial:
E.E.C. Financial is an executive debt recovery firm specializing in collection of legal debt and judgments in excess of $250,000. The firm enlists the expertise of highly skilled attorneys, lenders, accountants and investigators to make the full recovery process efficient and successful. E.E.C. Financials proprietary investigative strategies allow the firm to determine the viability of collecting any given debt in advance of the collection process at no cost to the client. Since the update in US bankruptcy laws on October 17, 2005, E.E.C. Financial has recovered millions of dollars for its clients.
###
Post Comment:
Trackback URL: http://www.prweb.com/pingpr.php/U2luZy1Mb3ZlLUZhbHUtSG9yci1NYWduLVplcm8=
Bookmark -
Del.icio.us |
Furl It |
Technorati |
Ask |
MyWeb |
Propeller |
Live Bookmarks |
Newsvine |
TailRank |
Reddit |
Slashdot |
Digg |
Stumbleupon |
Google Bookmarks |
Sphere |
Blink It |
Spurl
|
