Account Purchasing

Ascension also concentrates on the purchase of both secured and unsecured bankruptcy accounts, whether they be in Chapter 7 or Chapter 13.  The benefits to a lender selling accounts to Ascension are many, including:

Recognition of up-front cash

Elimination of legal risk for bankruptcy accounts

Reduction in bankruptcy collection expenses

Elimination of bankruptcy management staff and training

Dramatic reduction in outside legal costs for bankruptcy management

Application of cash tied up in bankruptcy to the core business

In addition to these positive impacts, the sale of bankrupt accounts to Ascension has a positive impact from day one on a lender's balance sheet, P&L, cash flow, and enterprise valuation.

Without question, a sale is an important tool for managers to use when evaluating their appetite for holding on to low yield, high risk bankrupt accounts.  In light of the clear benefits of selling to Ascension, many lenders are choosing to eliminate the risk, worry, and expense of managing this very complex area of their business.  They are choosing instead to focus their energies on their core business while depending on Ascension to fulfill this specialized need.

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