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Couple of questions
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hopper01609
Posts: 50 Forumite

Been lurking on here for some time about declaring my self bankrupt,I’m like evey one else petrified of doing it so reading in to it all
if I could just ask a couple of questions
soa does my wife have to declare her full wage as she has her own debts? Or 50%?
also my son pays us lodge money I presume this has to go in as well?
many thanks
if I could just ask a couple of questions
soa does my wife have to declare her full wage as she has her own debts? Or 50%?
also my son pays us lodge money I presume this has to go in as well?
many thanks
0
Comments
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Do you have any joint debts or accounts with your wife?If you've have not made a mistake, you've made nothing0
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Hi RAS No all debt in my name0
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Sorry forgot to say no joint accounts0
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Does she earn more than you?0
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Minkym00 said:Does she earn more than you?0
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You don’t HAVE to declare her income on your application but, given that you earn more then her, it is in your interest to do so. That way you will be allocated more of your household expenses, which will give you less surplus for an IPA.1
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Yes as above its optional.
If you don't declare her income it will be presumed all outgoings are paid for 50/50.
Best way is to put all your shared outgoings. Then all income including any benefits or regular money in such as your sons rent money to you. Obviously if he pays you in cash and always has done then its up to you what you declare but they can look at bank records and it is usually good to just be honest.
The OR if its just you going bankrupt will look at your records but he cannot look at your wife's unless they are jointly held accounts.1 -
Thank you all really helpful0
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When i done mine I put all shared outgoings, All my income, sons board money and we put my wife income minus what she pays on her debts as this is what she contributes to the monthly bills after her phone and credit card payments etc. dont know if this was right or not but the OR hasn't questioned it and ive only just over a month to go2
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