Income & Expenses

stevie1958

Good Morning everyone, I had a Bankruptcy Order made against me last month, according to my income and expenses form I need £1850 to live on, the job I was in I was bringing home £1200.00 a month, I also put my wife’s earnings of £750 a month as she works part time, I did not have a payment plan in place as they said I didn’t earn enough. I have now changed my job and I will be bringing home £350.00 more, I told OR who said he will send me a new income expense form, however do I put the full amount my wife earned or can I deduct what she pays out for example she pays £200.00 to a credit card, she also has travel expenses, as if not I might be put on a payment plan if I put the full amount she earns.

National_Debtline

Hi Stevie


The OR will ask for a full household budget (yours and your wife's income and outgoings). Your wife will not be expected to pay anything towards your debts but the OR can use the information to work out a fair split of the household bills and then check if you personally have anything available to pay into an IPA. As you earn more you it will be seen as fair that you pay a higher contribution towards the bills.


Best wishes


Susie
@natdebtline