https://brittandcatrett.com/2020/03/08/business-solutions-for-small-businesses-to-work-optimally
Many people are in debt that they can’t pay off, usually due to unexpected medical expenses or a loss in earnings. This can be extremely stressful and, in a few cases it can be debilitating. There are federal laws which offer bankruptcy options for people to make a fresh start.
Bankruptcy has many advantages, such as stopping creditor harassment and enabling the discharge of debts, among other things. It also allows for exemptions to safeguard critical assets such as homes and vehicles from foreclosure or repossession, and provides a well-planned way to rebuild credit over time.
However, it’s important to consider the impact on credit, the possibility of loss of assets and the limitations of bankruptcy when determining whether or not it’s a viable option. Talking with a financial professional or bankruptcy attorney may provide valuable guidance and insight into which type of solution is the best one based on your unique 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 a comprehensive, all-inclusive bankruptcy management solution that helps lower costs and risk. Our bankruptcy solutions enable servicers to speedily and precisely notify creditors of bankruptcy filings. They can also receive notifications when the status of the case changes, and to automate the process to improve the amount of money repaid and reduce operational burdens. Servicers can also use the solution to create, modify and approve court documents, including the U.S. Bankruptcy Court Proof of Claim, upload documents and print or send forms to third parties for the completion.