Audit & Remediation

Solutions for mitigating bankruptcy oversight actions, financial penalties, and reputational damage

Like other regulators under the Biden Administration, the U.S. Trustee Program has experienced a shift in leadership which many believe could lead to a more aggressive enforcement attitude from the “watchdog over the bankruptcy process.” AIS Law’s Audit and Remediation service helps your organization quickly pinpoint and size potential high-risk areas within your bankruptcy program and prepare viable strategies for minimizing risk.

BANKRUPTCY EXPERTISE WHEN YOU NEED IT MOST

Systems access, resource allocation, and undocumented procedures often make internal bankruptcy processing assessments difficult for financial institutions. This is where AIS Law can add value.

Our Audit and Remediation service gives you instant access to the resources you require. We provide your team with line of sight into servicing blind spots without straining your bandwidth (Operations, IT, Legal). We leverage our data-mining tools, technologies, highly skilled workforce and servicing expertise to conduct large-scale reviews of bankrupt accounts in relatively short time frames.

Legal, Risk and Compliance departments utilize our solutions to better understand risk exposure within existing bankruptcy procedures and develop a go forward plan for complying with federal code and local rules and satisfying consent orders, as needed.

BANKRUPTCY EXPERTISE WHEN YOU NEED IT MOST

Systems access, resource allocation, and undocumented procedures often make internal bankruptcy processing assessments difficult for financial institutions. This is where AIS Law can add value.

Our Audit and Remediation service gives you instant access to the resources you require. We provide your team with line of sight into servicing blind spots without straining your bandwidth (Operations, IT, Legal). We leverage our data-mining tools, technologies, highly skilled workforce and servicing expertise to conduct large-scale reviews of bankrupt accounts in relatively short time frames.

Legal, Risk and Compliance departments utilize our solutions to better understand risk exposure within existing bankruptcy procedures and develop a go forward plan for complying with federal code and local rules and satisfying consent orders, as needed.

I have worked with AIS on various bankruptcy projects, both in the legal and public policy arenas. I know from experience that policy makers have relied on AIS for accurate data on Bankruptcy trends. AIS brings best-in-class analytics and implements superior business processes for bankruptcy operations. Any creditor looking to improve its compliance with the intricate rules for consumer bankruptcy could not do better.

JOHN D.MCMICKLE | FORMER COUNSEL TO THE SENATE JUDICIARY COMMITTEE

I have worked with AIS on various bankruptcy projects, both in the legal and public policy arenas. I know from experience that policy makers have relied on AIS for accurate data on Bankruptcy trends. AIS brings best-in-class analytics and implements superior business processes for bankruptcy operations. Any creditor looking to improve its compliance with the intricate rules for consumer bankruptcy could not do better.

JOHN D.MCMICKLE
| FORMER COUNSEL TO THE SENATE JUDICIARY COMMITTEE

CLIENT BENEFITS

AIS Law’s concise approach to audits and remediation is tailored to meet the needs of each client and deliver quality results that can become an integral part of the client’s future policies and procedures.

DEEP UNDERSTANDING OF THE BANKRUPTCY ECOSYSTEM

AIS Law’s Audit and Remediation service is a tested and credible compliance tool built around a unique set of capabilities.

AIS supplies the bankruptcy data, staffing resources and software required to automate and expedite the audit process. AIS’ proprietary database houses the latest bankruptcy information, dockets, and documents for every case in the federal court system. Staff of bankruptcy audit specialists are 100% college-educated and readily available.

AIS LAW, LLP works closely with clients during the process to provide insight on potential legal interpretation and implications. Cheryl A. Skigin, Partner, brings 30+ years of concentrated experience in bankruptcy and litigation.

John D. McMickle, Co-Founder of North South Government Strategies, consults with AIS Law on regulatory initiatives. John is a former Counsel to the Senate Judiciary Committee and was the primary drafter of the 2005 bankruptcy reform act. He currently assists banks in resolving bankruptcy-related disputes with regulators.

AIS supplies the bankruptcy data, staffing resources and software required to automate and expedite the audit process. AIS’ proprietary database houses the latest bankruptcy information, dockets, and documents for every case in the federal court system. Staff of bankruptcy audit specialists are 100% college-educated and readily available.

AIS LAW, LLP works closely with clients during the process to provide insight on potential legal interpretation and implications. Cheryl A. Skigin, Partner, brings 30+ years of concentrated experience in bankruptcy and litigation.

John D. McMickle, Co-Founder of North South Government Strategies, consults with AIS Law on regulatory initiatives. John is a former Counsel to the Senate Judiciary Committee and was the primary drafter of the 2005 bankruptcy reform act. He currently assists banks in resolving bankruptcy-related disputes with regulators.

SPECIALTY AUDITING YOU CAN TRUST

We have the data, bankruptcy technology, and dedicated staff in place to review loans across various product lines (Card, Deposits, Auto, Mortgage, Term Loan) and provide a summary of findings with recommendations for resolution. The analysis covers what we have seen to be the most common servicing “pain points” in the industry. Checkpoints include:
  • Initial Research and Data Compilation
  • Account/Loan Audits and Case Analysis

CHECKPOINTS

Proof of Claim Filing

  • Form Execution – Data Entry Validation
  • Balance Calculations
  • Supporting Documentation and Attachments
  • Previously Discharged Debt Analysis
  • Time-Barred Debt Analysis
  • Appropriate Service Completed
  • Objections to /Disallowances of Claim
  • Motions to Seal / Redaction Correction
  • Missed Bar Dates

Payment Change Notices (Mortgage)

  • Form Execution – Accurate Data Entry
  • Filed in the Appropriate Timeframe

Post-Petition Fee Notices (Mortgage)

  • Form Execution – Data Entry Validation
  • Filed in the appropriate timeframe

Litigation - Motions for Relief and Objections

  • Form Execution – Data Entry Validation + Supporting Documentation and Attachments
  • Appropriate Service Completed
  • Timing – Filed Date to Order Granted Date

Reaffirmations

  • Form Execution – Data Entry Validation
  • Appropriate Service for Pro Se debtors
  • Identify if Cancelled or Rescinded
  • Filed in the appropriate timeframe

REMEDIATION SUPPORT FOR GREATER PEACE OF MIND

When corrective action is needed, we utilize our subject-matter expertise and regulatory relationships to effectively design and execute your remediation plan – start to finish – while advising you on potential legal implications along the way. We can support you with:
  • Amended Filings or Transfers
  • Refunds
  • Redaction Efforts
  • Trustee Communication
  • Litigation Oversight
To ensure complete transparency throughout the process, we maintain constant communication with our clients. We share a complete reporting package which includes:
  • Project Dashboards
  • Daily Status Updates
  • Overall Status Briefings
  • Account/Claim Level Data