Many people end up in debt that they aren’t able to pay, usually due to unexpected medical bills or the loss of income. This can be a stressful experience and, in some cases difficult to deal with. There are federal laws which provide bankruptcy solutions for citizens to start fresh.

Bankruptcy has many advantages, including stopping creditor harassment and allowing debt discharge and much more. It also allows exemptions to safeguard critical assets such as vehicles and homes from foreclosure or repossession, and provides a logical way to rebuild credit over time.

It is essential to weigh the potential consequences of bankruptcy on your credit, assets and limitations when deciding if it’s a good option. A financial advisor or bankruptcy lawyer can provide valuable insight and guidance on the best approach to a person’s unique 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 lowers costs and risk. Our bankruptcy solutions offer service providers the ability to notify creditors quickly and accurately of bankruptcy filings, get updates when case dispositions change, and automate the process to maximize the amount of recoveries and reduce operational burdens. The solution also permits servicers to prepare, modify and approve court documents, including the U.S. Bankruptcy Court Proof of Claim, upload documents and print or email forms to third parties for the completion.

https://brittandcatrett.com/2020/03/28/small-business-is-the-best-start/

(0)