Many people are in debt that they aren’t able to pay back, typically due to unexpected medical expenses or a loss of earnings. It can be stressful and, in a few cases it can be debilitating. Fortunately, there are federal laws that provide people with bankruptcy solutions to help them a fresh start.
The bankruptcy process offers many benefits, such as stopping harassment by creditors and allowing the discharge of debts, among others. It also allows for exemptions to protect critical assets like vehicles and homes from foreclosure or repossession, and offers a planned process for rebuilding credit over time.
It is nevertheless important to think about the impact on credit, the potential loss of assets and limitations of bankruptcy when deciding whether or not it’s an appropriate option. A financial expert or bankruptcy lawyer can provide look at this site valuable insight and guidance on the best option to a person’s unique financial situation.
For more than 30 years, Stretto has been at the forefront of the Chapter 7 landscape, pairing industry insights with robust technologies to create a comprehensive end-to-end bankruptcy management system that reduces costs and risk. Our bankruptcy solutions provide servicers with the ability to notify creditors quickly and accurately about bankruptcy filings, receive updates when case dispositions change, and automate the process in order to maximize the amount of recoveries 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, print or forward forms to third parties for completion.
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