Many people are in debt they can’t pay off, usually due to unexpected medical expenses or a loss of earnings. This can be extremely stressful and, in some cases difficult to deal with. Thankfully, there are federal laws that provide people with bankruptcy solutions to give them a fresh start.
The bankruptcy process has numerous advantages, such as stopping creditor harassment and enabling the discharge of debts, among other things. It also grants exemptions to critical assets such as cars and homes from repossession or foreclosure, and provides a structured method to rebuild credit over time.
It is crucial to consider the possible consequences of bankruptcy on your assets, credit and limitations before choosing whether it’s an appropriate option. A financial expert or bankruptcy lawyer can provide valuable insight and guidance on the best solution to a person’s unique financial situation.
Stretto the leader in the Chapter 7 landscape for more than 30 years now, has partnered industry insights with robust technology to create an end-to-end bankruptcy solution that reduces costs and risks. Our bankruptcy solutions offer service providers the ability to notify creditors quickly and accurately of bankruptcy filings, receive notifications when the disposition of a case changes and also automate the process to maximize recoveries and decrease operational burdens. Servicers can also use the solution to prepare, modify, and accept court forms, including the U.S. Bankruptcy Court Proof of Claim. Upload documents, print or email forms to third parties for their completion.