9 October 2024
Many people find themselves in debt they cannot pay, usually due to unexpected medical bills or an unexpected loss of income. It can be stressful and, in a few cases difficult to deal with. There are federal laws which provide bankruptcy solutions for citizens to make a fresh start.
It has numerous advantages which include stopping harassment from creditors and allowing debt discharge and much more. It also allows exemptions to safeguard critical assets such as homes and small business is the best start vehicles from foreclosure or repossession, and provides a logical process for rebuilding credit over time.
It is important to evaluate the potential impact of bankruptcy on assets, credit, and limitations when choosing whether it’s an appropriate option. A consultation with a financial advisor or bankruptcy attorney can help provide valuable guidance and insights into which option is best suited to one’s unique financial situation.
Stretto is a pioneer in the Chapter 7 landscape for more than 30 years now and has teamed industry insights with the latest technology to develop an end-to-end bankruptcy solution that minimizes the risk and costs. Our bankruptcy solutions offer service providers the ability to inform creditors quickly and accurately of bankruptcy filings, get updates when the disposition of a case changes and to automate the process to maximize the amount of recoveries and reduce operational workloads. The solution allows servicers also to create, edit and approve court forms, including the U.S. Bankruptcy Court Proof of Claim. Upload documents, print or email forms to third party servicers for completion.