La Quinta, California - With the looming move to standardize the Chapter 13 Official Plan Form, BankruptcyWatch stands ready to help their clients take advantage of this key change in the filed bankruptcy documents.
BankruptcyWatch announced today at the Annual MasterQueue User Conference that their PDF Document Parsing Engine now includes the Chapter 13 Plan.
The Federal Bankruptcy Court recently mandated that all new Chapter 13 bankruptcy filings must use a uniform Official Form 113. It must be noted that district courts will still have the option to use a different form, however, the contents of the plan must comply with established guidelines.
The change takes effect starting December 1st. BankruptcyWatch has already put in place the technological capability and expertise to read and process the submitted Plans with a high degree of accuracy and efficiency.
Lance Wickham, President of BankruptcyWatch, said “Every organization that is affected by Chapter 13 bankruptcy needs and reads the Plan. We are proud to be the first to offer this new capability and we expect this huge leap in our technology to revolutionize the way companies use the Plan.”
BankruptcyWatch has been electronically reading bankruptcy documents for their clients for a number of years. This new feature allows their clients to experience the best possible outcome in every bankruptcy case with little to no staff time required.
Some key benefits of using BankruptcyWatch’s latest technology to process the latest Chapter 13 Plans include:
- Ability to ensure maximum revenue from each and every Plan
- Faster reactions to Plan changes and updates
- Significant reduction in costs related to the hiring of expensive staff to parse, review and interpret the complex Plan filings
- High level of accuracy and enhanced efficiency to the company workflow due to the automation process
“Even if you already have some level of bankruptcy workflow automation, we can still add tremendous value to your organization.” Wickham noted. “Lenders need to know with clarity the details of the Plan to understand the implications it will have on their processes and revenue,” he added.