When you have come to a point where you know you will be unable to pay off all of your debt, even if you were to spend years doing so and you want to make bill collectors quit calling you, it is a good idea to consider filing for  bankruptcy. As the first step in the process involves filing the necessary petition  paying the required fees to the court clerk in your area and obtaining the appropriate order for belief, it is important to be aware of pertinent details that can impact your ability to benefit from filing for bankruptcy. Therefore, the following information will be quite useful as you make the appropriate plans for a better financial future  .  

#1 Some People Qualify To Have The Filing Fee Waived

While the fees for filing bankruptcy are significant for some people, it is often possible to have that fee waived if your total household income is not more than 150% of the federal poverty level for your family size. While this option is not a guarantee, it is a good idea to ask the county clerk how you could procure details or the appropriate application for doing so. 

If you are ineligible for that financial aid or if you prefer not to accept it, it may also be possible to spread the balance of the filing fees out over about eight weeks.

#2 If You Are Married, Your Spouse Must Agree With And Also File The Petition

Most of the time, the courts will require that if you are married, you cannot make a major decision like filing for bankruptcy without the approval and cooperation of your spouse. That means that even if you do not live with your spouse or have already filed for legal separation from him or her, you will need them to co-file the petition. Otherwise, you may need to ask the court if any possible, rare exceptions could be made or you may need to wait until your divorce has been finalized in order to file your petition. 

#3 Filing For Bankruptcy Can Prevent Your Utilities From Being Involuntarily Disconnected For Almost Three Weeks

One surprising benefit of filing a petition for bankruptcy is that you can get an extra 20 days of utility service after filing, even if you were scheduled for disconnection due to lack of payments. While you should speak with the companies providing those services and the court about the applicable paperwork to access that stay, those 20 days may be sufficient to make new financial arrangements for those bills.

In conclusion, filing a petition for bankruptcy has given many hard-working and responsible Americans the fresh start they need after incurring significant amounts of debt that cannot be paid off without the relief that bankruptcy provides. As a result, it is a good idea to be aware of the information provided above prior to making this big decision,