If you are thinking about filing for bankruptcy, surely you have seen and considered the numerous advertisements by debt relief agencies. Although there certainly are legitimate debt relief companies that exist, some of these companies engage in deceptive and/or illegal practices. Even the legitimate companies will may charge you a substantial amount of money. It is a good idea to familiarize yourself with the scams that exist and the warning signs.

Read more about types of debt relief scams.

The second major category of lawsuit against debtors is the non-dischargeability lawsuit. A creditor or trustee can file this type of lawsuit against a debtor to request that the bankruptcy court determine the debt owed is non-dischargeable. This lawsuit is often based on the debtor obtaining the credit through fraud or a false financial statement.

Learn more about this type of lawsuit.

The Meeting of Creditors must be attended by all debtors that file for Chapter 7 or Chapter 13 bankruptcy. During the Meeting, you will be questioned by the bankruptcy trustee and possibly creditors. If you intend to file a bankruptcy case, you should prepare beforehand by learning about this important meeting.

Read more about the Meeting of Creditors.

There are many misconceptions and confusion regarding bankruptcy. Furthermore, many future debtors have basic questions regarding the bankruptcy system and process. These questions are often similar or identical from person to person. Most of these questions grow out of misinformation and a lack of knowledge of bankruptcy, which is a deceptively complex body of law.

Click here to read some frequently asked bankruptcy questions and the answers!