Many people end up in debt they can’t pay, often due to unexpected medical bills or the loss of income. It can be stressful and, in a few cases difficult to deal with. There are federal laws that offer bankruptcy solutions to citizens to make a fresh start.

The bankruptcy process has many benefits which include stopping harassment from creditors and allowing debt discharge and much more. It also permits https://brittandcatrett.com/2021/10/20/intralinks-appropriate-tool-for-usage exemptions to shield important assets like vehicles and homes from foreclosure or repossession and provides a well-planned procedure for rebuilding credit over time.

It is nevertheless important to consider the impact on credit, the potential loss of assets and limitations of bankruptcy when determining whether or not it’s an appropriate option. A financial advisor or bankruptcy lawyer can give 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 the latest industry knowledge with advanced technologies to create a comprehensive, end-to-end solution for managing bankruptcy which helps to reduce costs and risks. Our bankruptcy solutions allow servicers the ability to notify creditors quickly and accurately of bankruptcy filings, receive updates when the disposition of a case changes and to automate the process to maximize recovery and reduce the workload of operations. The software allows servicers to prepare, modify and approve court forms, which includes the U.S. Bankruptcy Court Proof of Claim. Upload documents, print or mail forms to third-party service providers for completion.