Bankruptcy Solutions

Many people are in debt they can’t repay, usually due to unexpected medical expenses or a loss of earnings. This can be a stressful experience and, in some cases it can be debilitating. There https://brittandcatrett.com/2022/01/04/risk-management-and-small-business are federal laws that provide bankruptcy options for individuals to start fresh.

Bankruptcy has many advantages that include stopping harassment by creditors, allowing debt discharge, and more. It also allows for exemptions to protect important assets like homes and vehicles from foreclosure or repossession, and offers a planned process for rebuilding credit over time.

However, it’s important to think about the impact on credit, potential loss of assets and limitations of bankruptcy when determining whether or not it’s an appropriate option. A financial counsellor or bankruptcy lawyer can provide valuable insight and guidance on the best approach for a person’s specific financial situation.

Stretto, a leader in the Chapter 7 landscape for more than 30 years, has partnered industry insights with advanced technology to create an end-to-end bankruptcy system that reduces costs and risks. Our bankruptcy solutions give servicers the ability to inform creditors quickly and accurately of bankruptcy filings, and receive updates whenever dispositions in the case change and also automate the process in order to maximize recovery and reduce operational burdens. Servicers can also use the solution to design, modify and approve court forms, such as the U.S. Bankruptcy Court Proof of Claim. Upload documents, print or email forms to third party servicers for completion.