Many people are in debt they cannot pay, often due to unexpected medical bills or a loss of income. This can be stressful and, in some cases difficult to deal with. Fortunately, there are federal laws that provide citizens with bankruptcy solutions to give them a fresh start.

The bankruptcy process offers many advantages that include stopping harassment by creditors, allowing debt discharge, and many more. It also permits exemptions to safeguard critical assets such as vehicles and homes from repossession or foreclosure, and provides a logical path for rebuilding credit over time.

It is crucial to consider the potential consequences of bankruptcy on your credit, assets and limits when making a decision on whether it’s a viable option. Consulting with a financial advisor or bankruptcy attorney may give valuable advice and insight into what type of option is best suited to the specific financial situation of each person.

For more than 30 years, Stretto has been at the forefront of the Chapter 7 landscape, pairing expertise from the industry with advanced technology to create a comprehensive, end-to-end bankruptcy management solution that helps reduce costs and risk. Our bankruptcy solutions allow servicers to quickly and accurately inform creditors of bankruptcy filings. They can also receive notifications when the status of the case https://brittandcatrett.com/2022/01/04/consumer-and-small-business-solutions/ changes, and to automate the process to increase recoveries and minimize operational workloads. The software also allows servicers to draft, edit and approve court documents, including the U.S. Bankruptcy Court Proof of Claim, upload documents and print or transmit forms to a third party for completion.