Bankruptcy and new relationship advice please

littlemouse2020

So I am in the first year of my bankruptcy, all quite straight forward and honestly the best decision I have made especially for my mental health. My question is around getting in to a new relationship. I am with someone who knows about the bankruptcy and isn't bothered. We got together after I declared. We don't live together or anything yet but are looking at moving in with each other. Will his earnings affect my bankruptcy? Will I have to declare his earnings? Any advice appreciated. 

fatbelly

It's possible that his earnings will mean you will have more surplus income as he takes a share of the expenses.

What is your income? Earnings, Benefits or a mixture of both?

Do you already have an  income payments agreement?

When will it be one year since your bankruptcy?

littlemouse2020

fatbelly said:

It's possible that his earnings will mean you will have more surplus income as he takes a share of the expenses.

What is your income? Earnings, Benefits or a mixture of both?

Do you already have an  income payments agreement?

When will it be one year since your bankruptcy?

He certainly does earn more than me. I already have an IPA and I will be discharged from my BR Feb next year. I just don't see how he would be counted in any of that as it's nothing to do with him. We aren't married or anything. My income is just from one salary, I don't get benefits or anything else. 

flipflopflo

Well if you move him into your house you will be splitting the bills so you won’t be paying as much for rent/mortgage, utilities, council tax etc. So you will have more free income to pay towards your IPA. 

This is a new relationship though so you will probably be a year or more before even thinking of living together.  

luvchocolate

If it were me I'd wait until after discharge before doing anything different. 
Remember if you try to open a joint bank account for household expenses your BR will affect your partners credit 

Yahoo_Mail

luvchocolate said:

If it were me I'd wait until after discharge before doing anything different. 
Remember if you try to open a joint bank account for household expenses your BR will affect your partners credit 

I'm not sure what difference being discharged will make if the OP already has an IPA?

MalMonroe

I'd hang on before moving in together, certainly until after your BR is discharged, as there's not long left to go now.

Your IPA can be changed when and if your circumstances change, too, more info on this Citizens Advice link  https://!!!!!!/3lzWzyk

P.S. I would never open a joint account with anyone. I had one with my ex-husband who I trusted implicitly and when he decided to leave, he froze it! I'm still not sure how that happened since it was supposed to be joint. I will never trust anyone else that much again. Once bitten, and all that. 

sammy32683

Hi,
I think some people posting forget an IPA lasts for 3 years not 1. So even if you are discharged your IPA can still go up and down for the whole 3 year period it is set.
If you want to wait 3 years to move in fine but I imagine as you are asking it is something you are thinking about.

You do not have to declare their income but the expenses would then be split 50/50. You would need to do a whole new income/expenditure.
For example when you first did the form if you put down 1000 income for just you 400 rent 400 groceries and 200 left over. (Just examples)
Your groceries may be 600 now as another person is in the household and say your rent goes up to 600 as well you would list half.
So on your new form you do not declare his income but list half your expenses so 300 for the groceries and 300 for the rent using the examples above. 

You would also list his expenses as half yours so if he paid 300 petrol to work you add 150 petrol to your expenses etc. So even if he moves in it is likely you could work it out so not much would change with your IPA. 

Hope that help, I know it's quite a lot but you shouldn't let BR control your love life, it's supposed to be a way of moving forward.