It puts a hold on foreclosure which can allow you time to reorganize your finances. Every area has reputable attorneys who handle bankruptcies. Spend the time to find one and spend the time to know what you have to do and when. Mistakes can cause things to get very bad very fast. The most common scam happens either during or after the foreclosure.
Person breaks in to a vacant house, changes the locks and then rents the property out.
Another variation on this same theme is a person giving an owner in foreclosure a cash amount for the equity in the home. The small cash payment gains control of the property which is then rented out with no payments made to the lender. There is one person in this world who has your best interest at heart. You have to be careful, think about the services promised, and determine whether the promises are real or just another way of separating you from your money.