Many people are in debt they aren’t able to pay back, typically due to unexpected medical expenses or a loss of income. It can be stressful and, in some instances https://brittandcatrett.com/2021/10/20/intralinks-appropriate-tool-for-usage even debilitating. Fortunately, there are federal laws that provide citizens with bankruptcy solutions to give them a chance to start over.
Bankruptcy has many advantages, such as stopping the harassment of creditors and allowing the discharge of debts, among others. It also allows for exemptions to shield important assets like homes and vehicles from foreclosure or repossession, and provides a well-planned way to rebuild credit over time.
It is crucial to consider the potential impact of bankruptcy on credit, assets and limits when choosing whether it’s an appropriate option. A financial expert or bankruptcy lawyer can give valuable insight and guidance on the best option for a particular financial situation.
For more than 30 years, Stretto has been at the forefront of the Chapter 7 landscape, pairing expertise from the industry with advanced technology to create an extensive, end-to-end bankruptcy management solution that helps lower costs and risk. Our bankruptcy solutions allow servicers to quickly and accurately notify creditors of bankruptcy filings. They can also receive updates as case disposition changes, and to automate the process to boost the amount of money repaid and reduce operational burdens. The software also allows servicers to prepare, modify and approve court forms, including the U.S. Bankruptcy Court Proof of Claim, upload documents and print or send forms to third parties for their completion.