Couple of questions 22 June 2020 at 9:49AM in Bankruptcy & Living With It 9 replies 231 views

hopper01609

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

RAS

Do you have any joint debts or accounts with your wife?

hopper01609

Hi RAS No all debt in my name

hopper01609

Sorry forgot to say no joint accounts

Minkym00

Does she earn more than you?

hopper01609

Minkym00 said:

Does she earn more than you?

No she earns a lot less at moment I put down £326 which is 50% of her wage as we are furlough,really she Carnot afford this she’s got debts

Minkym00

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.

sammy32683

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. 

hopper01609

Thank you all really helpful

Bluecar2

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 go