Many people are in debt they can’t pay, often due to unexpected medical expenses or a loss of income. This can be stressful and in some cases, debilitating. There are, however, federal laws that his explanation provide individuals with bankruptcy solutions to help them a new start.

Bankruptcy has many advantages it can provide protection against harassment by creditors as well as allowing debt to be discharged and many more. It also allows for exemptions to protect important assets such as homes and vehicles from repossession or foreclosure, and offers a planned way to rebuild credit over time.

It is crucial to consider the possible effects of bankruptcy on credit, assets and limitations before choosing whether it’s an appropriate option. A financial expert or bankruptcy lawyer can offer valuable advice and insight on the best approach to a person’s unique financial situation.

Stretto has been a leader in the Chapter 7 landscape for more than 30 years now and has teamed industry insights with robust technology to create an end-to-end bankruptcy solution that minimizes costs and risks. Our bankruptcy solutions enable servicers to rapidly and accurately inform creditors of bankruptcy filings and to receive updates as the case disposition changes. They can also automate the process to improve the amount of money repaid and reduce operational burdens. Servicers can also use the solution to design, modify, and approve court forms, including the U.S. Bankruptcy Court Proof of Claim. Upload documents, print or email forms to third-party service providers for completion.