My partner has savings

RattyIrk

I went bankrupt earlier this year.

I have recently submitted the financial questionnaires to the Insolvency Service. My partner worked for my business so has lost her income although does not have any personal debts save the mortgage.

I have another job but at a far lower salary and at present there is a significant gap between household income and expenditure which the IS has queried. My partner got bits and pieces of money over the last few months from different sources including some redundancy but not a regular wage.

She owns the house which is fine. She also has a small amount of savings and has been dipping into this to make ends meet and it has gone down a lot quite quickly.

My question is that when working out whether to impose an income payment agreement if the IS will take into account her savings when calculating her share of the household income or whether they literally just look at income coming into the household; i.e. wages?

Thanks in advance for any tips

Kentish_Dave

You may we’ll have a beneficial interest in the house, so I’d imagine that that might be the bigger issue.

RattyIrk

Thanks Dave. It was always her property and we have paperwork dealing with our relationship and who had what. This has been disclosed and no questions asked yet. Genuine as opposed to put in her name as I had my own business.

debt_doctor

Hi,

If your partner has sole legal title to the house then it would be HIGHLY unlikely that any claim would be made by the OR.

Will they take her savings in to account - No - absolutely not. What they need to assess is what YOUR surplus income is from your earned and /or pension income.

And....The OR cannot impose an IPA - it is an agreement - if you don't think any proposed IPA is fair then you should post your SOA on here.

DD