Many people end up in debt that they aren’t able to pay, often due to unexpected medical bills or the loss of income. This can be stressful, and in some instances, even debilitating. There are federal laws that provide bankruptcy options for individuals to start over.

Bankruptcy offers several advantages in the form of stopping the harassment of creditors and allowing the discharge of debts, among others. It also allows exemptions to protect important assets like vehicles and homes from repossession or foreclosure, and provides a well-planned process for rebuilding credit over time.

It is important to evaluate the potential impact of bankruptcy on assets, credit, and limitations when making a decision on whether it’s a viable option. Talking with a financial professional or bankruptcy lawyer can give valuable advice and insight on what kind of solution is most appropriate based on the individual’s financial situation.

Stretto the leader in the Chapter 7 landscape for more than 30 years now, has paired industry insights with advanced technology to create an end-to-end bankruptcy solution that minimizes the risk and costs. Our https://brittandcatrett.com/ bankruptcy solutions allow servicers to speedily and precisely notify creditors of bankruptcy filings. They also receive updates as case disposition changes, and to automate the process in order to increase the amount of recoveries and reduce operational burdens. The software allows servicers to design, modify, and approve court forms, which includes the U.S. Bankruptcy Court Proof of Claim. Upload documents, print or forward forms to third parties for completion.