The United States bankruptcy court system discharged nearly 206,000 personal bankruptcies during the first quarter, and more than 266,000 additional households filed for a new bankruptcy during this time.

Bk’s have always been a part of any special finance department. Going after these customers before they are discharged will give you a big heads start on your competition. You need to have a combination of lenders and marketing to make this work but I have done with success and averaged over $5500 per deal since I did not have to worry about negative equity. In conversations with several lenders, they all agree that this will be one of the first areas to rebound in special finance.

During my upcoming seminar in Philadelphia, we will spend a significant amount of time talking about lender programs and marketing specifically geared towards capturing bk business.