Bankruptcy Filings Down Nearly 12% in 2014; ARM Firms Well-Represented in Cases

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The 2014 “Year in Review” issue of AIS InSight released last month showed that U.S. bankruptcy filings in 2014 totaled 909,968, down 11.89% from the previous year.

Of the Top 50 Creditors listed in bankruptcy filings for 2014, 13 were debt buyers and/or collection agencies. Accounts receivable management firms were named in 15 percent of listings attributed to the Top 50 organizations.

The AIS InSight Report is published by the bankruptcy data experts at American InfoSource and covers bankruptcy filings from January 1 – December 31, 2014.

Click here to view the 2014 Year in Review Issue of AIS InSight

The Bankruptcy Code requires a debtor to list and give notice to all creditors when filing for bankruptcy protection. Large credit card issuers and consumer lenders, as well as government entities, are the most commonly-listed creditors in bankruptcy filings.

Debt buyer Encore Capital Group was ranked the highest among ARM companies, with 252,653 listings in 191,293 cases. Portfolio Recovery Associates followed with 186,717 listings and Enhanced Recovery Corporation came in third with listings totaling 120,091.

Below is a table with the ARM companies who finished in the Top 50 Creditors Listed in 2014 Bankruptcies:

Rank

Creditor

Cases

Listings

9

Encore Capital Group

191,293

252,653

13

Portfolio Recovery Associates, LLC

143,319

186,717

16

Enhanced Recovery Corporation

108,532

120,091

22

NCO Group, Inc.

101,666

131,604

27

Resurgent / Sherman / LVNV

74,533

93,939

31

Anderson Financial Network, Inc. (AFNI)

67,336

76,949

32

IC Systems

66,744

74,747

33

Cavalry Portfolio Services

63,825

80,509

35

Credit Collection Services

57,784

64,657

42

Client Services, Inc.

46,785

48,575

45

SquareTwo Financial

43,545

53,324

47

Northland Group

42,804

46,968

50

Credit Protection Association

39,464

43,398

1,274,131

Each month, AIS InSight delivers critical bankruptcy statistics to many of the largest financial institutions in the country, as well as card issuers, auto finance groups, mortgage servicers, healthcare systems, telecom, utilities, and ARM companies.

Along with a Top 50 Creditors Listed in Bankruptcies, AIS InSight’s “Year in Review” issue features:

  • Annual Bankruptcy Snapshot including Ch7 and Ch13 volumes
  • Top 50 Creditors Filing Claims and Amount Filed
  • Projected Bankruptcy Filing Trends

If you would like to receive AIS InSight on a monthly basis, please click here.

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Posted in Bankruptcy, Credit Grantors, Debt Buying, Debt Collection .

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