Customers should beware of debt settlement companies that claim to significantly reduce debt in a short amount of time.  Through the alleged “debt settlement process,” the customer’s total debt may actually be increased, their credit scores lowered, they may be sued and may ultimately be forced into bankruptcy.
 
These companies typically earn big commissions for [...]

One creditor may file for an involuntary bankruptcy proceeding against a borrower, if the borrower has less than 12 creditors and the aggregate undisputed debts are $13,475 or less. If the debtor has more than 12 creditors and the aggregate total of undisputed debts is more than $13,475, then 3 creditors must jointly file for [...]