A Bankruptcy Attorney-Georgene Pantelas

Even if you stop receiving bills, you should still make an effort to remain current with your payments. Filing for bankruptcy may put an end to collection calls and bills, but it doesn't release you from your obligation to pay.

A bankruptcy attorney can protect you from creditor harassment once you've filed for bankruptcy. If debt collectors continue to call and harass you after you've informed them of your filing, your attorney should be able to put a stop to it.

Depending on what type of bankruptcy you file, your tax obligations will vary, as chapter 7 bankruptcy creates a taxable estate that's completely separate from you as an individual taxpayer. Speak to your attorney to determine your tax obligations.

Don't think that it's inevitable you'll lose your home, car or other precious belongings by filing bankruptcy. The truth is that 90 percent of people who file for Chapter 7 bankruptcy don't lose any property.

If a bankruptcy judge decides that some or all of your debt is the result of fraud, that debt is immune from a bankruptcy discharge. Fraud can also result in your bankruptcy case being dropped.