Receivable/Accounts - Information for Credit and Collection Issues

Monday, November 28, 2011

Found Money From Bankruptcies

Ginette Trahan, of the Office of the Superintendant of Bankruptcy spoke two weeks ago at the Receivables Management Association of Canada’s first annual conference, where creditors, collection agencies, law firms, credit bureaus, and other companies offering services in the credit industry gathered.

Ginette spoke about the trends of bankruptcies in Canada over the last few years, including some insightful trends into the Canadian economy.  However, of material value was a presentations slide offering a website URL for unclaimed creditor’s funds from bankruptcies at www.osb.ic.gc.ca.

This website boasts a database with currently over 85,000 records of unclaimed funds available, totalling over $15,000,000.  There is a search tool and a procedure to claim funds.

I was able to find over 40 debtor accounts for a half-dozen  clients of my company in ten minutes.  I would highly recommend all creditors investigate this.