Completing Online Bankruptcy Form

AlfieMoo2018

Hi

Can I just check if it is mandatory to put my wife's salary in the household income section? She earns significantly more than me & I am concerned that she will be penalised for me going bankrupt.

Based on our combined earnings I earn 40% of the income & my wife 60%. I have split all our joint costs this way. Should all costs be split this way on my SOA for example my clothing allowance / toiletries etc?

If I include her income do I enter the full value of our joint costs & not just my share? Do I include her monthly fixed outgoings too?

When I visited the CAB bureau they split our joint costs 50/50 but I dont want to deceive the OR.

Many Thanks

TheGardener

No - not mandatory at all. The OR will of course try and persuade your partner to include their income but some would argue that if the other half earns more than the BR, it may be better to decline the request to disclose. If you wife doesn't disclose the OR will make a 50/50 split. You need to do the maths on this to see if there would be any benefit in her not disclosing - to do this you would need to have a reasonable idea of how much an IPA might be based on the 40/60 split.

post #8 in this thread has some useful links.
https://forums.moneysavingexpert.com/discussion/5915158/household-surplus-income-question

AlfieMoo2018

thanks I have now gone through my soa & would be grateful for a review. All household / utility bills ie rent, rates, council tax, utility bills , phone (except mobile) and groceries I have split with my portion being 35% of the total monthly cost (my partner contributes more being on a higher wage) all other costs are my costs 100% - is this correct way of looking at this. Many Thanks
Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 1925
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1925

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 285.6
Rent.................................... 224
Management charge (leasehold property).. 0
Council tax............................. 52.15
Electricity............................. 21.35
Gas..................................... 17.5
Oil..................................... 0
Water rates............................. 18.99
Telephone (land line)................... 6.09
Mobile phone............................ 70
TV Licence.............................. 4.39
Satellite/Cable TV...................... 9.99
Internet Services....................... 7
Groceries etc. ......................... 206
Clothing................................ 33.33
Petrol/diesel........................... 45
Road tax................................ 11.81
Car Insurance........................... 34
Car maintenance (including MOT)......... 13.08
Car parking............................. 10
Other travel............................ 10
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 34.87
Pet insurance/vet bills................. 12.97
Buildings insurance..................... 0
Contents insurance...................... 2.87
Life assurance ......................... 24.87
Other insurance......................... 0
Presents (birthday, christmas etc)...... 25
Haircuts................................ 5
Entertainment........................... 20
Holiday................................. 15
Emergency fund.......................... 15
work equipment.......................... 41.5
Total monthly expenses.................. 1277.36


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 15333....(285.6)....0
Total secured & HP debts...... 15333.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................2754......153.......0
credit card....................4044......158.......0
credit card....................4069......149.......0
store card.....................1263......64........0
credit card....................5236......184.......0
Total unsecured debts..........17366.....708.......-


Monthly Budget Summary
Total monthly income.................... 1,925
Expenses (including HP & secured debts). 1,277.36
Available for debt repayments........... 647.64
Monthly UNsecured debt repayments....... 708
Amount short for making debt repayments. -60.36

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -15,333
Total Unsecured debt.................... -17,366
Net Assets.............................. -32,699