The number of companies and people who have filed for bankruptcy relief in U.S. Bankruptcy Court in the Southern District of Ohio through October is mind-numbing – so large it’s nearly meaningless.
But at another level, those figures offer a glimpse into a trend that is pure opportunity. There’s nothing quite like tough times for a collection agency.
When credit-card defaults are high, it’s peaches-and-cream for companies like Knightsbridge Receivables Management, a year-old collections company that has its headquarters in the Butler County Business Incubator in downtown Hamilton.
With a conservative president like George W. Bush in power, it is safe to assume that bankruptcy laws will be tightened considerably in his second term, said Eugene Brugger, partner at Knightsbridge, which celebrated its first-year anniversary last week and is planning an expansion within two months.
For this complete story, please visit Consumer Debt Trends Favoring Collection Agencies and Bankruptcy Reform.
