Many people are in debt that they can’t repay, usually due to unexpected medical expenses or a loss of income. This can be stressful, and in some cases debilitating. Fortunately, there are federal laws that provide people with bankruptcy solutions to help them a fresh start.
The bankruptcy process offers many advantages that include stopping harassment by creditors, allowing debt discharge, and more. It also allows exemptions to safeguard critical assets such as homes and vehicles from repossession or foreclosure, and offers a planned process for rebuilding credit over time.
It is essential to weigh the possible effects of bankruptcy on credit, assets and limitations when choosing whether it’s an appropriate option. A financial consultant or bankruptcy lawyer will give valuable insight and guidance on the best option for a particular financial situation.
Stretto has been a leader in the Chapter 7 landscape for more than 30 years now, has combined industry knowledge with the latest technology to develop an end-to -end bankruptcy solution https://brittandcatrett.com/2022/01/04/risk-management-and-small-business that lowers risks and costs. Our bankruptcy solutions offer service providers the ability to inform creditors quickly and accurately about bankruptcy filings, receive notifications when dispositions of cases change and to automate the process to maximize recovery 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 and print or send forms to third parties for the completion.