SOA Declare / not declare partners income

Polly_Rocket

Hi!

Please find below my SOA. All debts are in my name only, we do have 1 joint bank account and we have submitted the forms to remove my husbands name from it before I declare bankruptcy. I am the one declaring bankruptcy, my husband has no debts.

I am just a little confused about the income part, declaring / not declaring partners income. Looking at my SOA would you advise declaring my husbands income? We both are self employed and then the benefits I receive are for my 2 children (not my husbands kids) Tax credit claim is in joint names and child maintenance income is off my ex partner.

We have 1 car 13 years old worth £800 on an amazing day. I rely on the car to take my kids to school (16 mile round trip per day) help care for my dad who has dementia and collect and take back my step son on a weekend (120 mile round trip per weekend). I am the only one with a driving license.

If you could take a look and give me any thoughts on the SOA as well as the income question that would be greatly appreciated.


Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 2 (3 at the weekends)
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 171.07
Partners monthly income after tax....... 684.29
Benefits................................ 1043.73
Other income............................ 216 (I receive child maintenance for my 2 children)
Total monthly income.................... 2115.09

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 705
Management charge (leasehold property).. 0
Council tax............................. 130
Electricity............................. 64
Gas..................................... 30
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 18
Mobile phone............................ 50
TV Licence.............................. 13
Satellite/Cable TV...................... 27.3
Internet Services....................... 20
Groceries etc. ......................... 513.33 (including toiletries and dog food)
Clothing................................ 80
Petrol/diesel........................... 180
Road tax................................ 17
Car Insurance........................... 79
Car maintenance (including MOT)......... 25
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 50 (pocket monies, school trips, after school clubs and uniforms)
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 5
Buildings insurance..................... 0
Contents insurance...................... 16.35
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 40
Child Maintenance....................... 100
Total monthly expenses.................. 2227.98


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 800

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
British Gas....................2200......36.5......0
RBS Loan 1.....................356.......38........0
RBS Loan 2.....................13411.....216.......0
Mum............................20000.....340.......0
Honeycomb Loan 2...............632.......15........0
Honeycomb Loan 1...............1710......55........0
Argos..........................521.......50........0
Next ..........................183.......10........0
Very...........................608.......50........0
MBNA CC 4......................2839......28........0
MBNA CC 3......................205.......25........0
MBNA CC 2......................633.......25........0
MBNA CC 1......................3658......36........0
BFS Loan 2.....................8667......154.......0
BFS Loan 1.....................6098......193.4.....0
Tesco Loan.....................14426.....257.......0
Total unsecured debts..........76147.....1528.9....-


Monthly Budget Summary
Total monthly income.................... 2,115.09
Expenses (including HP & secured debts). 2,227.98
Available for debt repayments........... -112.89
Monthly UNsecured debt repayments....... 1,528.9
Amount short for making debt repayments. -1,641.79

Personal Balance Sheet Summary
Total assets (things you own)........... 800
Total HP & Secured debt................. -0
Total Unsecured debt.................... -76,147
Net Assets.............................. -75,347

TheGardener

The general rule of thumb is that if your partner earns much more than you - there may be benefits to not declaring. The OR will then apportion the costs 50/50%. However, as a large part of the family income is benefits, an IPA should not even be considered in your case. The car should be fine.

debt_doctor

Hi,

Put your £100 child maintenance expense on to groceries - you have room.

I don't see any excess so see no reason for an IPA.

DD

Polly_Rocket

Thank you very much TheGardener and Debt Doctor for the confirmation, feeling ready to get submitted now.

Cheers!