📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Partners income when assessing ipa


Hypothetical question. When the OR looks at household income where the partner brings in more than the one applying for bankruptcy. If they decide that household expenses should be split say 60 / 40 , can they legally enforce such a situation. Surely the OR has no call on how a partner disposes of their income where they are not associated with any of the debts incurred by the one going br, in particular if there are no joint assets. I can see how they would want to do this in order to raise a surplus for ipa on the bankrupt member of the household but have they any power to do such a thing. 
For someone self employed then they could simply reduce their income further to a point where any ipa would be totally infeasible.
Being self employed my income has taken a huge hit due to ill health in 2019 followed by Covid 2020.
my income is sufficient to cover my half of household expenses and business expenses but no more.
My partner earns more than I do as a result but I see no reason why they should have to pay more into household expenses when the br is nothing to do with them, just so the OR can raise a surplus on my income.
At the moment this is all purely hypothetical but just wanted thoughts in case the situation does arise.

Comments

Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.3K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.4K Mortgages, Homes & Bills
  • 177.1K Life & Family
  • 257.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.