Declaring wifes earnings??? help ..

molly73

Hi there everyone

My husband has been to CAB today ... will hear full story when he gets home but he called to get my income details.. is this right?? Its just him going bankrupt?? help does anyone know.

Richard_S

molly73 wrote: »

Hi there everyone

My husband has been to CAB today ... will hear full story when he gets home but he called to get my income details.. is this right?? Its just him going bankrupt?? help does anyone know.

Hi molly,

No need to panic, they would just be looking at your domestic finances to see how best you can approach your debt problems. You'll hear all about Income & Expenditure A/C's and Statement of Affairs if your hubby does decide to declare bankruptcy; it's nothing to be overly worried about, there's a wealth of information on here.

Regards

Richard

owetoomuch

They just need this information to make sure that your husband doesn't get himself into financial trouble again, and not having enough in his SOA you end up getting into debt to keep the family running. When I went BR the form asked how much did my OH contribute to the household, at the time because all of my money and some of his were meeting my minimums (he didn't know this long story he wasn't aware of the level of debt I was in until I told him before BR) I didn't know what to put on the form so I spoke with my CCCS advisor and she advised me with an amount to put in. Also when I had my interview with the OR about my expenditure I explained because I had lived off credit for so long I didn't know what to put on my SOA and that the figures entered were put on the form on the advice of the CCCS.

rog2

Just to echo the above points - there is no need for you to worry unduly. Your husband will need to enter your income on the bankruptcy form, as it will be taken into account when the OR assesses his income/expenditure statement. It is unlikely that you will be asked for any proof of income, but it is likely that your contribution, to the househould income, will be taken into account for the calculation of an IPA/IPO.