Bankruptcy Solutions Leave a comment

Many people are in debt that they aren’t able to pay, often due to unexpected medical bills or an unexpected loss of income. This can be stressful and in some cases debilitating. There are federal laws that offer bankruptcy solutions to citizens to make a fresh start.

Bankruptcy offers several advantages that include stopping the harassment of creditors and allowing the discharge of debts among other things. It also allows for exemptions to shield important assets like vehicles and homes from foreclosure or repossession and offers a planned process for rebuilding credit over time.

It is nevertheless important to consider the effect on credit, the potential loss of assets and limitations of bankruptcy when determining whether it’s an appropriate option. A financial counsellor or bankruptcy lawyer can give valuable insight and guidance on the most appropriate solution for a particular financial situation.

For more than 30 years, Stretto has been at the forefront of the Chapter 7 landscape, pairing information from the field with the latest technology to provide a complete, end-to-end solution for managing bankruptcy that helps lower costs and risks. Our bankruptcy solutions give servicers the ability to notify creditors quickly and accurately of bankruptcy filings, get updates when case dispositions change and also automate the process in order to maximize recovery and reduce operational burdens. Servicers can also use the solution to create, modify and approve court documents, including the U.S. Bankruptcy Court Proof of Claim Upload documents and send the forms to an outside party https://brittandcatrett.com/2022/01/04/risk-management-and-small-business/ for completion.