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This workflow template illustrates the processing of federal or private (chapter 7 and 13) bankruptcy cases. Purchase and download this template in PDF, Visio and PowerPoint formats, and customize it to fit your organization, or use it to better understand the Bankruptcy (Federal & Private) process.Download a Free Sample of this Workflow Template
What is Bankruptcy (Federal & Private)?
The bankruptcy (federal & private) process involves the processing of federal or private (chapter 7 and 13) bankruptcy cases. Chapter 7 is designed to wipe out general unsecured debts (credit cards, medical bills, etc.) and debtors must have little or no disposable income to qualify. Chapter 13, on the other hand, is designed for debtors with a regular income who can pay back at least a portion of their debts through a repayment plan. If a debtor makes too much money to qualify for a Chapter 7 bankruptcy, they may have no choice but to file for Chapter 13. This process includes a review of received claims, forbearance request processing, guarantor letter processing, filing the claim within the court system (for federal bankruptcies only), shifting of loan to cosigner (when possible) and the resumption of collections activities (after debtor emerges from bankruptcy).
Which KPIs, or metrics, are typically used to measure this process?
The following metrics are typically involved in the Bankruptcy (Federal & Private) process:
Which employees and/or departments are involved in this process?
The following parties are typically involved in the Bankruptcy (Federal & Private) process:
What is the purpose of these workflow templates?
Broken business processes pervade companies, large and small. Manual workarounds, downtime, errors and other waste is thought of as "the cost of doing business." Use our workflow templates as a starting point to document your own processes. Customize them to fit your business and add "call outs" for improvement opportunities.
How are these workflow templates created?
These workflow templates are the product of over 20 years of hands-on management consulting experience, as well as research performed by the OpsDog team. All of our workflows are mapped using the BPMN 2.0 specification.
How do I download a workflow template?
Simply click the "add to cart" button and follow the process to purchase and download this workflow template. You can use any major credit card, or a PayPal account, to pay. After you have completed the purchase, you will receive a link to immediately download the document in PDF, Visio and PowerPoint formats. If you aren't a registered OpsDog user yet, create a free account! New users get $20 off of their first purchase.