Bankruptcy servicing

Bankruptcy servicing built for creditors.

Outsource the bankruptcy work. Keep the loans and the recoveries.

Bankruptcy doesn’t fit neatly into traditional servicing.

One bankruptcy account can generate years of court notices, trustee payments, plan changes, claim activity, collateral decisions, and exceptions. Multiply that by a few hundred accounts and you have an operating function of its own.

When that work is spread across collections, servicing staff, outside counsel, and spreadsheets, deadlines slip, payments do not reconcile, and good accounts get uneven attention. Tribute takes that work on as one operation.

Different chapters. Different servicing work.

Bankruptcy is not one workflow. What a creditor needs from a servicer turns on the chapter, and the two are almost opposites.

Chapter 7 is event-driven.

The servicing window is shorter, but the decisions come fast. Collateral has to be identified, debtor intentions monitored, reaffirmations or redemptions evaluated, surrenders coordinated, and stay relief pursued when appropriate — then the account carried through discharge or other disposition.

Chapter 13 is payment-driven.

A case can stay active for three to five years. Plans change, trustee distributions arrive, collateral may be surrendered, cases dismiss or convert, and every payment has to be posted and reconciled.

Tribute manages both — from first bankruptcy notice through final account disposition.

The Chapter 13 clock, on one account

Five years of servicing. Seventy days to file the claim.

Claim: $19,840
Chapter 13 plan: 60 months
Treatment: Secured, 9.00%
Monthly distribution: $411.85

Petition Month 0
Claim Month 2
Confirmation Month 4
Trustee distributions Months 5 to 60
Discharge Month 62

Month	Event	Received	Claim balance	Recovered to dateTo date
0	Petition filed, notice received	–	$19,840.00	–
2	Proof of claim filed	–	$19,840.00	–
4	Plan confirmed	–	$19,840.00	–
5	First trustee distribution, five months held	$2,059.25	$18,504.87	$2,059.25
22	Plan modified, vehicle class unchanged	$411.85	$13,573.52	$9,060.70
60	Final distribution	$411.54	$0.00	$24,710.69
62	Discharge entered, lien released	–	$0.00	$24,710.69

Illustrative account, not a client record.

Notes and sources

Months count from the petition date. Rows are a selection; distributions arrive every month from month 5.
Assumes a 60-month plan, a $610.00 monthly plan payment, an 8 percent trustee fee, and a vehicle claim paid in full at 9.00 percent. The claim balance accrues interest at that rate, which is why it falls by less than each distribution.
Claim bar date: Fed. R. Bankr. P. 3002(c). Pre-confirmation payments held by the trustee: 11 U.S.C. 1326(a). Vehicle claims inside 910 days: 11 U.S.C. 1325(a). Interest rate: Till v. SCS Credit Corp., 541 U.S. 465 (2004). Plan length: 11 U.S.C. 1322(d), 1325(b)(4).

And the account rarely stays static.

Plans are modified. Payments change. Cases dismiss or convert. Collateral may be surrendered. A claim-filing vendor leaves after the filing. Tribute stays on the account until discharge, dismissal, or another final resolution.

Claims, plans, payments, court, collateral. All of it.

Chapter 7 servicing

Debtor-intention and collateral-status monitoring
Reaffirmation workflow and payment setup
Redemption and payoff coordination
Surrender and repossession coordination
Motion-for-relief and stay-relief coordination
Asset and no-asset case monitoring

Chapter 13 servicing

Plan review and treatment monitoring
Trustee and direct-payment processing and reconciliation
Plan modifications and case-status monitoring
Payment variance and exceptions
Dismissal, conversion, and surrender handling

Case & claim management

Bankruptcy notice intake and automatic-stay controls
Proof-of-claim preparation and filing, when required or appropriate
Claim amendments and supporting documentation
Objections and other creditor actions
Court, trustee, and attorney correspondence

Resolution & reporting

Dismissal and discharge processing
Post-bankruptcy account disposition
Portfolio-level reporting and reconciliation

From bankruptcy notice to final resolution.

1

Intake & case matching

We identify the bankruptcy-impacted account, establish the case record, validate the debtor and court information, and apply the workflow for its chapter.
2

Position & treatment review

We determine the chapter, claim status, collateral position, debtor intentions or plan treatment, deadlines, and the creditor actions required.
3

Claim & legal administration

Claims, amendments, reaffirmations, redemptions, stay relief, and other required workflows are prepared, tracked, and coordinated.
4

Payment & collateral servicing

For Chapter 13 we monitor the plan and process trustee and direct payments; for Chapter 7 we track reaffirmation, redemption, surrender, and collateral recovery.
5

Case changes & exceptions

Dismissals, conversions, surrenders, payment issues, plan modifications, and legal events are surfaced for action.
6

Final resolution & reporting

Accounts are carried through discharge, dismissal, or other disposition, with portfolio-level reporting throughout.

Know exactly what’s happening across your bankruptcy portfolio.

Once an account leaves your collections department it should not go dark. Tribute reports at the account level and the portfolio level: case status, claim status, plan treatment, payments, recoveries, services performed, and exceptions that need a decision.

Case status
Chapter
Claim status
Asset/no-asset status
Collateral status
Debtor intention
Reaffirmation status
Stay-relief status
Plan treatment
Payments received
Recoveries
Services performed
Exceptions
Final disposition

Every case is tracked by its legal status and what it is expected to recover, not by a status code. Servicing, claim administration, and legal work run in one place, on one record per account, inside a SOC 2 Type II audited operation built around the automatic stay.

Use us for the whole portfolio, or only where you need us.

Full Service

We run the bankruptcy work from intake to discharge as your outsourced team.

À la carte

Take only the pieces you need, such as proof-of-claim filing, plan monitoring, or discharge handling, and keep the rest in-house.

Contingency

We are paid only from what we recover, so our incentive is aligned with yours from day one.

Can I outsource bankruptcy servicing and keep the loans on my books?

Yes. The accounts stay on your balance sheet. Tribute files the proof of claim, monitors the Chapter 13 plan, processes trustee payments, and carries the account to final resolution. You keep ownership and the recoveries.

How does this help with the automatic stay?

Every workflow is designed around the automatic stay and the bankruptcy rules, so your team is not managing those restrictions account by account.

Is Tribute SOC 2 audited?

Yes. Tribute holds a SOC 2 Type II report. Ask for it during diligence and it goes into your vendor file with the rest of the controls documentation.

What does Tribute handle on a Chapter 7 account?

Chapter 7 usually does not involve the multi-year payment plan found in Chapter 13, but a secured creditor still has work to do. Tribute monitors the case and collateral position, tracks the debtor’s intended treatment of the asset, coordinates reaffirmation, redemption, surrender, and stay-relief workflows as applicable, and carries the account through discharge or final disposition. A proof of claim is filed when the case has assets and a claim is required.

What happens to a Chapter 13 account over the life of the plan?

We stay on it for the life of the plan, three to five years. We track trustee payments, catch missed or modified amounts, handle plan changes and legal events, and carry the account through discharge, dismissal, or other resolution.

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