Bankruptcy Alert Software Notifies Lenders of Filings

Wilmington, Del.-based software developer Corporation Service Company launched its Bankruptcy Tracker program, which monitors court filings and notifies companies via e-mail when a debtor files for bankruptcy. Corporation Service noted consumer bankruptcies recently reached the highest mark since the fall of 2005. In July alone, consumers filed 126,434 bankruptcies, representing a 34% increase over July of 2007 and an 8% increase over June’s filings. Corporation Service sends lenders e-mail alerts on bankruptcies filed against their debtors. “When it comes to dealing with a debtor’s bankruptcy, any delay in responding can be costly. Too often, notices of bankruptcy are not routed to the correct person in time to properly respond,” CSC vice president Mark Rosser said in a statement. “With this new service from CSC, financial institutions can receive prompt notice of relevant bankruptcy filings,” Rosser added. “This advance notice enables them to respond to proof of claim filing and other deadlines, and to assertively monitor and protect their interests.” Write to Austin Kilgore.

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