Many people are in debt that they can’t pay off, usually due to unexpected medical expenses or a loss in earnings. This can be stressful and sometimes even debilitating. There are, however, federal laws that provide individuals with https://brittandcatrett.com/2020/03/08/business-solutions-for-small-businesses-to-work-optimally bankruptcy solutions to give them a fresh start.
The bankruptcy process has numerous advantages it can provide, including stopping creditor harassment and enabling the discharge of debts, among others. It also allows exemptions for important assets like automobiles and homes from foreclosure or repossession, and provides a structured method to rebuild credit over time.
It is crucial to consider the potential impact of bankruptcy on credit, assets and limitations when making a decision on whether it’s a viable option. A financial counsellor or bankruptcy lawyer can give valuable insight and guidance on the most appropriate solution for a person’s particular financial situation.
For more than 30 years, Stretto has been at the forefront of the Chapter 7 landscape, pairing the latest industry knowledge with advanced technologies to create an extensive, end-to-end solution for managing bankruptcy that helps lower costs and risk. Our bankruptcy solutions offer service providers the ability to notify creditors quickly and accurately about bankruptcy filings, receive notifications when dispositions of cases change, and automate the process in order to maximize the amount of recoveries and reduce operational workloads. The solution also allows servicers to prepare, modify and approve court forms, including the U.S. Bankruptcy Court Proof of Claim. Upload documents, print or email forms to third parties for their completion.