Efficiently resolve bankruptcy accounting and claim disputes with speed and precision.

Bankruptcy accounting, along with payment posting and default tracking, represents a multifaceted and intricate process. This intricacy is further intensified when loan payments undergo modifications, bifurcation under Section 506, or are structured to be fully paid within a plan, backloaded, suspended, rolled, subjected to adequate protection orders under Section 361, defaulted, discharged, or reverted to their original contractual status upon the lifting of a stay, confirmation, or dismissal. 

The situation can become even more complicated due to Servicing Transfers, where Buyers may inadvertently upload incorrect bankruptcy accounting entries from the Seller. 

Proper Bankruptcy Accounting enables accurate file uploads, effective tracking of payment defaults, proper categorization and posting, defense against Proof of Claims objections, and the filing of necessary Notices of Payment Changes (NOPCs), Post-Petition Fee Notices (PPFNs), and Notice of Final Cure (NOFC) Objections to safeguard your loan. 

Inadequate Bankruptcy Accounting can result in Borrowers lodging complaints with the CFPB, engaging in defensive litigation, and raising objections that can delay foreclosures and extend timelines, ultimately costing you both time and money. 

Moreover, the revised 2018 Mortgage Loan Servicing Rules mandate that monthly billing statements must accurately and concurrently reflect both the contractual and bankruptcy accounting for the loan, necessitating significant effort, enhanced monitoring, and oversight for compliance. We are the specialists in bankruptcy accounting who can assist you in navigating these challenges!