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December Bankruptcies Rose 6.26 Percent, 2024 Total Filings Up 14.28 percent

Total bankruptcy filings rose sharply in December compared to the number of filings in the same month in the previous year. Chapter 7 liquidations and chapter 11 (mainly) business reorganization cases clocked double-digit increases, while chapter 13 consumer repayment cases maintained a slower rate of increase.

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Bankruptcy Filings Increase by 6.26 Percent in November

The number of debtors who filed bankruptcy in November 2024 increased compared to last November, but at a moderate pace of 6.26 percent. In total, 40,276 consumer and commercial debtors sought bankruptcy relief last month.

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The Essentials Guide: Addressing Bankruptcy Account Management Challenges in 2025

Leaders in default servicing operations are evaluating how best to scale and manage resources, as they prepare budgets and strategies for 2025 and beyond. Bankruptcy account management is one area that has recently garnered more attention from lenders and servicers, given the consistent rise in filing volumes over the last 18 months and the challenges it presents.

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EXECUTIVE BRIEFING

EXECUTIVE BRIEFING:
Reducing Servicing Costs, Improving Data Security, and Mitigating Operational Risk

Leaders from some of the nation’s top financial services organizations gathered at AIS’s Dallas headquarters for an exclusive roundtable discussion. The event brought together servicing operations executives from auto finance companies, mortgage servicers, and commercial banks.

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Navigating New Norms

WHITE PAPER:
Navigating New Norms
Outsourcing as a Catalyst for
Mortgage Service Excellence

As the mortgage sector navigates through complex market dynamics, the primary objectives for many organizations remain the same: master cost efficiency, ensure the delivery of high-quality service, and effectively scale operations.

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CASE STUDY: Tailoring and Scaling Specialized Support to Meet the Dynamic Needs of a Mortgage Servicer

AIS partnered with a Top 5 mortgage servicer to help enhance service quality performance, increase operational efficiencies, and reduce departmental expenses.

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AIS Strengthens Enterprise Risk Management Program with Hiring of Saurabh Jhingan

AIS Strengthens Enterprise Risk Management Program with Hiring of Saurabh Jhingan

AIS, a professional services and technology firm providing quality back-office talent and automation, is pleased to announce the hiring of Saurabh Jhingan as its new Vice President of Enterprise Risk Management.

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Supreme Court Rules Against Sackler Family in Purdue Pharma Case

Supreme Court Rules Against Sackler Family in Purdue Pharma Case

In a 5 to 4 ruling, the U.S. Supreme Court today overturned a settlement in the Purdue Pharma bankruptcy case that would release members of the Sackler family from liability for their alleged role in the national opioid epidemic.

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CFPB Funding Scheme Survives Supreme Court Challenge

CFPB Funding Scheme Survives Supreme Court Challenge

In a 7-2 decision, the U.S. Supreme Court upheld the mechanism for funding the Consumer Financial Protection Bureau (CFPB). The stakes were high for the CFPB, which had said that an adverse decision would threaten “the validity of virtually all CFPB past actions.”

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Bankruptcy Insight Report - November 2024

According to data supplied by AIS, November bankruptcy filings totaled 40,276, a moderate 6.26% increase from the same period last year.

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May-2024

Bankruptcy Insight Report -
October 2024

October bankruptcy filings increased by 15.85% over last year, reaching 47,121 petitions, according to data supplied by AIS. This marked the highest October filing total since 2019.

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Bankruptcy Insight Report - September 2024

September filings climbed 13.88% over last year, with 42,540 petitions filed. Chapter 7 and 13 filings showed steady growth at 10.04% and 5.77%, respectively, while Chapter 11 filings surged by a remarkable 40.85%.

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