Is Mann Bracken Out of Business?

I got the word a few days ago that gigantic debt collection law firm Mann Bracken was going under. Atlanta consumer lawyer Tim Cook says Mann Bracken’s lawyers are out of work and the phones are instructing callers to contact their creditors. Could it be?

It could. Mann Bracken has been under fire in Georgia, and its parent company, Axiant, took a big hit when the Minnesota Attorney General forced the National Arbitration Forum to stop handling consumer arbitrations. That is a lot of weight to carry, and I am not surprised to find out that Mann Bracken is the next casualty of the Axiant love triangle.

From the comments, here is my best advice if you had a debt with Mann Bracken:

Mann Bracken is a debt collection law firm. As far as I know, Mann Bracken does not purchase debts, it just collects debts that belong to its clients.

If Mann Bracken goes bankrupt, its clients do not lose the right to collect their debts, they just have to find another debt collector to do it.

If you had a debt with Mann Bracken, you should probably start by contacting the creditor. If you had reached a settlement with Mann Bracken, find out whether the creditor intends to honor that settlement. (Note: Making payments is not necessarily the same thing as settling your debt. A creditor must credit your account for any payments you make, regardless whether you have reached some kind of settlement.)