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Soa

I had my telephone interview with the OR last friday, she said that an IPA would be worked out. My question is how much of my husbands income do they use when assessing income? BTW my husband has not declared bankruptcy only myself.:D
Lost in space🚀

Comments

  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    It depends on the numbers....generally no more than your income if his income is higher than yours.....that would make you liable for 50% of all joint expenses...although this may exclude some of his individual expenses as he can use his excess income to pay for those.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • His income is lower than mine would that make a difference?
    Lost in space🚀
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    They'll use his income to pay for his share of the joint expenses and you will therefore pay more towards the joint expenses to make sure they are paid and your excess income will be lower.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    IPA calculator Post 01 December 2010

    As you can see from that, the BR's % of the total household income is calculated and is used to calculate their share of shared joint expenses.

    i.e. if you income is 70% of the total, then on shared bills you will be expected to contribute 70% to them.
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
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