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 a stressful situation, and sometimes even debilitating. Thankfully, there are federal laws that provide individuals with bankruptcy solutions to give them a fresh start.

The bankruptcy process has many benefits that include stopping harassment by creditors as well as allowing debt to be discharged and more. It also offers exemptions for important assets like cars and homes from foreclosure or repossession and provides a method to build credit over time.

It is essential to weigh the potential consequences of bankruptcy on your assets, credit and limits when deciding if it’s a good option. A financial consultant or bankruptcy lawyer will give valuable insight and guidance on the best option for a person’s particular financial situation.

For more than 30 years, Stretto has been at the forefront of the Chapter 7 landscape, pairing industry insights with robust technologies to create a intralinks appropriate tool for usage comprehensive, end-to-end solution for managing bankruptcy that reduces costs and risks. Our bankruptcy solutions provide servicers with the ability to notify creditors quickly and accurately about bankruptcy filings, and receive updates when the disposition of a case changes, and automate the process in order to maximize recoveries and reduce operational workloads. The solution also allows servicers to prepare, modify, and accept court forms, including the U.S. Bankruptcy Court Proof of Claim. Upload documents, print or forward forms to third parties for completion.