09 Oct Bankruptcy Solutions
Many people are in debt they can’t pay off, usually due to unexpected medical expenses or a loss in earnings. This can be stressful, and sometimes even debilitating. There are federal laws which offer bankruptcy solutions to citizens to make a fresh start.
The bankruptcy process has many benefits that include stopping harassment by creditors and allowing debt relief and many more. It also permits exemptions to shield important assets like homes and vehicles from repossession or foreclosure, and offers a planned way to rebuild credit over time.
It is important to evaluate the possible impact of bankruptcy on assets, credit, and limitations when deciding if it’s a good option. Talking with a financial professional or bankruptcy attorney can give valuable advice and insight into what type of option is best suited to one’s unique 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, end-to-end solution for managing bankruptcy that reduces costs and risk. Our bankruptcy solutions provide servicers with the ability to inform creditors quickly and accurately of bankruptcy filings, get updates whenever dispositions in the case change and to automate the process in order to maximize the amount of recoveries and reduce the workload of operations. Servicers can also use the solution to prepare, modify and approve court forms including the U.S. Bankruptcy Court Proof of Claim Upload documents and print or transmit forms to third parties for their completion.
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