Bankruptcy's Big Winners: The ARM Industry
Sure, the new bankruptcy laws are tough on some – consumers, for instance, who had it easier last year when a bankruptcy filing was akin to a get-out-of-debt-free card. But, according to TheStreet.com, the new, tougher laws are proving advantageous to business in the accounts receivable sector. They now have a better class of consumer debt to buy.
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According to Audrey Snell, an analyst with ThinkEquity Partners, “Very little debt is discharged. It not only protects the creditors who own the debt, but it also enables [them] to collect more and collect better over time. It has enabled the emergence of a new asset class for companies like Asta Funding and Portfolio Recovery Associates."
Most industry insiders agree: the new law has created more receivables for sale.
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