Bankruptcy Solutions
A variety of bankruptcy options are available to help consumers get back on track with their finances. But bankruptcy should only be filed under the supervision of an experienced bankruptcy attorney and after budgeting, debt consolidation or credit counseling efforts have failed. In filing for bankruptcy, consumers the chance to cut off several of their debts and ease the burden caused by late payments, and refocus on rebuilding their credit.
Consumer proposals, debt consolidation or informal debt settlements are also viable options to lower the amount of debts without having to liquidate assets or file for bankruptcy, or have a 10-year bankruptcy note on their credit report. However, consumers should be cautious when exploring these options, as they can lead to increased financial troubles if not handled correctly by a reputable professional.
Businesses can also implement bankruptcy solutions to reduce debt and improve cash flow. These strategies include implementing working capital loans, exploring accounts receivable factors or engaging in discussions on debt negotiation with creditors. These strategies can help companies reduce financial risks, secure financing to continue operations and avoid bankruptcy.
Used to prepare more than 80 percent of bankruptcy cases that are filed in the United States, Best Case by Stretto is the industry’s premier software for filing and case preparation for bankruptcy attorneys and petition preparers. The most advanced technology, with its robust workflows and time-saving features, makes tasks easier for busy professionals. Stretto also offers bankruptcy trustees incredible technology tools and extensive support services that boost productivity and improve efficiency.