Bankruptcy Solutions

Many people end up in debt they cannot pay, usually due to unexpected medical expenses or a loss of income. This https://brittandcatrett.com/2020/09/15/vdr-can-be-an-ideal-tool-to-help-small-business-owners-get-their-data-organized-for-various-purposes can be stressful and, in some cases, debilitating. Thankfully, there are federal laws that provide people with bankruptcy options to give them a chance to start over.

The bankruptcy process offers many advantages which include stopping harassment from creditors as well as allowing debt to be discharged and more. It also allows exemptions to protect critical assets such as vehicles and homes from foreclosure or repossession, and provides a logical way to rebuild credit over time.

It is important to evaluate the possible consequences of bankruptcy on your credit, assets and limitations before making a decision on whether it’s a viable option. Consultation with a financial adviser or bankruptcy attorney can provide valuable guidance and insights on what kind of solution is best based on the specific financial situation of each person.

Stretto is a pioneer in the Chapter 7 landscape for more than 30 years now, has combined industry knowledge with the latest technology to develop an end-to-end bankruptcy solution that minimizes costs and risk. Our bankruptcy solutions enable servicers to quickly and accurately notify creditors of bankruptcy filings. They also receive notifications when the status of the case changes, and to automate the process to increase the amount of money repaid and reduce operational burdens. The solution also permits servicers to draft, edit and approve court forms including the U.S. Bankruptcy Court Proof of Claim Upload documents and send the forms to third parties for their completion.