Many people are in debt they are unable to pay, usually due to unexpected medical expenses or a loss in earnings. This can be stressful, and in some cases, debilitating. Fortunately, there are federal laws that provide people with bankruptcy solutions that give them a fresh start.

Bankruptcy has many advantages that include stopping harassment by creditors and allowing debt relief and many more. It also allows exemptions for crucial assets such as automobiles and homes from foreclosure or repossession, and provides a method to rebuild credit over time.

Nonetheless, it is important to consider the effect on credit, possible loss of assets, and the limitations of bankruptcy when determining whether https://brittandcatrett.com/2022/01/04/consumer-and-small-business-solutions or not it is a good option. Consultation with a financial adviser or bankruptcy attorney can help give valuable advice and insight into which solution is best based on one’s unique financial situation.

Stretto is a pioneer in the Chapter 7 landscape for more than 30 years, has partnered industry insights with a robust technology to create an end-to-end bankruptcy solution that reduces the risk and costs. Our bankruptcy solutions enable servicers to rapidly and accurately inform creditors of bankruptcy filings. They can also receive updates as case disposition changes. They can also automate the process to improve recoveries and reduce operational workloads. The solution also allows servicers to prepare, modify, and approve court forms, such as the U.S. Bankruptcy Court Proof of Claim. Upload documents, print or email forms to third-party service providers for completion.