Bankruptcies. If Servicer receives written notice that an Obligor has become subject to bankruptcy proceedings under Federal or State law, Servicer or its designee (attorney if required) shall provide the following services as necessary: a. Servicer shall immediately cease all collection activity and otherwise comply with the Bankruptcy Code and all related laws and regulations. b. Servicer shall file a claim with the applicable court. c. Servicer shall obtain legal services for the prosecution of the claim when necessary. d. Servicer shall monitor the receipts of funds being paid through the applicable bankruptcy plan. e. Upon dismissal of an action under bankruptcy, Servicer shall service the Obligor's account pursuant to the standard collection procedures of Section I of this Schedule A. f. Should the Obligor account be the subject of a reaffirmation or court ordered modified payment schedule, Servicer shall administer and collect the account in the same fashion as that prior to the bankruptcy proceedings.
Appears in 4 contracts
Samples: Master Servicing Agreement (Aegis Consumer Funding Group Inc), Servicing Agreement (Aegis Consumer Funding Group Inc), Servicing Agreement (Aegis Consumer Funding Group Inc)
