Many people are in debt they can’t pay off, usually due to unexpected medical expenses or a loss of income. This can be stressful and, in a few cases even debilitating. There are federal laws that offer bankruptcy options for people to start over.

The bankruptcy process has many benefits, including stopping creditor harassment and allowing debt discharge and many more. It also offers exemptions for critical assets such as homes and cars from repossession or foreclosure, and offers a structured way to build credit over time.

It is important to weigh the possible consequences of bankruptcy on your credit, assets, and limitations when choosing whether it’s an appropriate option. Talking with a financial professional or bankruptcy attorney may provide valuable guidance and insight into which type of solution is best based on one’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, all-inclusive bankruptcy management solution that helps reduce costs and risks. Our bankruptcy solutions offer service providers the ability to inform creditors quickly and accurately of bankruptcy filings, receive notifications whenever dispositions in https://brittandcatrett.com/2020/03/28/small-business-is-the-best-start/ the case change and automate the process to maximize the amount of recoveries and reduce operational burdens. The solution also 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 parties for their completion.