Bankruptcy Solutions

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Many people are in debt they can’t repay, usually due to unexpected medical expenses or a loss in earnings. It can be stressful and, in a few cases it can be debilitating. There are federal laws which provide bankruptcy options for individuals to start over.

Bankruptcy has many advantages in the form of stopping the harassment of creditors and allowing the discharge of debts among other things. It also allows exemptions for essential assets like cars and homes from repossession or foreclosure, and provides a method to rebuild credit over time.

It is nevertheless important to consider the impact on credit, the possibility of loss of assets, and the limitations of bankruptcy when deciding whether or not it’s an appropriate option. A financial expert or bankruptcy lawyer can provide valuable information and advice on the most appropriate solution for a particular financial situation.

For more than 30 years, Stretto has been at the forefront of the Chapter 7 landscape, pairing the latest industry knowledge with advanced technologies to create an extensive, all-inclusive bankruptcy management solution which helps to reduce costs and risks. Our bankruptcy solutions allow servicers to swiftly and accurately inform creditors of bankruptcy filings. They also receive updates when the disposition of a case changes, and to automate the process to increase the amount of recoveries and reduce operational burdens. The solution also allows servicers to draft, edit and approve court forms such as the U.S. Bankruptcy Court Proof of Claim, upload documents and print or transmit forms to third parties for the completion.