https://brittandcatrett.com/2021/07/08/generated-post-2

Many people are in debt that they can’t repay, usually due to unexpected medical expenses or a loss of earnings. This can be stressful and in some cases, debilitating. Thankfully, there are federal laws that provide citizens with bankruptcy solutions that give them a new start.

Bankruptcy has many advantages that include stopping the harassment of creditors and allowing the discharge of debts among others. It also offers exemptions for important assets like homes and cars from foreclosure or repossession and offers a method to rebuild credit over time.

It is important to weigh the potential impact of bankruptcy on credit, assets and limitations when choosing whether it’s an appropriate option. A financial consultant or bankruptcy lawyer will offer valuable advice and insight on the best approach for a person’s specific 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 create a comprehensive, all-inclusive bankruptcy management solution which helps to reduce costs and risk. Our bankruptcy solutions allow servicers the ability to notify creditors quickly and accurately about bankruptcy filings, and receive updates whenever dispositions in the case change and automate the process to maximize the amount of recoveries and reduce the workload of operations. The software also allows servicers to draft, edit and approve court forms, including the U.S. Bankruptcy Court Proof of Claim and upload documents and print or email forms to third parties for their completion.