Marketing Bankruptcy (Newsletter: Issue 295 in May 2000)

In the '80s, we began recommending non-obligatory agreements with full disclosure as the way to recover unsecured money in bankruptcy. Hardly anyone listened. Within a few years Voluntary Repayment Agreements (VRAs) started being used. By this time, we were recommending that members who were no significant collection problems be offered retention of their lines of credit in exchange for VRAs. Hardly anyone listened. To date, our Bankruptcy Program clients have recovered hundreds of thousands, perhaps millions, of dollars using this strategy.