Thought Leadership Type: Bankruptcy Solutions

According to Stretto President Scott Barna, filing for bankruptcy can provide a fresh start for distressed borrowers to resolve their personal debt obligations and move forward with financially sustainable futures, as interviewed in GOBankingRates.

Stretto Regional Director Nancy Simons and Attorney David Goodrich discuss that for the abandoned plan program to reach its full potential, further refinements are needed. Clearer guidance on locating plan information and, critically, adjustments to trustee compensation are vital for sustainable administration in Law360.

Stretto Managing Director Igor Roitburg and Attorney Katarina Essenmacher explain that while lawyers are not required to file an adversary proceeding to seek a student loan discharge, they should advise their clients that discharge is now possible and explain the process in the fall issue of NACBA’s Consumer Bankruptcy Journal.

Year-to-date bankruptcy filings reach the highest level in 13 years, and Stretto co-CEO Jonathan Carson observes that rising interest rates have been the cause of a lot of businesses finding it more difficult to stay open when debt service goes higher and margins are thin, as interviewed in The Epoch Times.

Stretto Managing Director Igor Roitburg and Attorney Michael Lux advise that by consulting with their clients who carry significant student loan debt, consumer debtor Attorneys can become agents of change and play a guiding role in making the transition to student loan repayment less painful in the summer issue of NACBA’s Consumer Bankruptcy Journal.

Stretto Managing Director George Vogl explains that the discharged debtor must remain current on all regular obligations that survived the bankruptcy. This usually includes mortgage payments, car payments, and other secured debts where the debtor agreed to keep the secured property in exchange for keeping their obligation on the debt. As interviewed in Debt.org.

Stretto Managing Director Dan McElhinney and BakerHostetler’s Jorian Rose describe that an avoidance action marketplace would be a boon to debtors as it would allow for the early and efficient monetization of avoidance actions, instead of the slow process of liquidating an avoidance action portfolio via contingency fee advisors that exists today in the New […]

Stretto co-CEO Jonathan Carson says that while cases can vary individually, business owners overwhelmed by their debt should consider bankruptcy rather than letting their EIDL or SBA loans fall into delinquency. The stigma attached to bankruptcy 25 years ago no longer remains. As interviewed in L.A. Business First.

Stretto Managing Director George Vogl explains that borrowers absolutely must address any debts that survive the bankruptcy and be in good standing on their payments. This is the most important factor that potential lenders will view. As interviewed in CBS MoneyWatch.

Stretto Managing Director Melinda Bennett and Subchapter V Trustee Matthew Brash discuss that if the proposed legislation to extend the current debt ceiling is passed, bankruptcy professionals can maximize the value that Subchapter V brings to distressed small businesses in Law360.