Non disclosure of some income

Billy_Dandy

Good afternoon to all,

When I am preparing my SOA, I have listed only my debts (they are in my name only) and my income (occupational pension).

My wife receives disability benefits only and the debts are not hers.

I have no intention of including her income in the SOA.

Is this likely to cause a problem?

Can I be ‘required’ to disclose her income?

Thank you.

Grumpelstiltskin

What are you thinking of doing, a self managed DMP?

If so you don't have to give creditors any details of income and expenditure, so you don't need to supply a SOA

Billy_Dandy

Grumpelstiltskin said:

What are you thinking of doing, a self managed DMP?

If so you don't have to give creditors any details of income and expenditure, so you don't need to supply a SOA

That was the plan. I was just wondering if they (creditors or DCA) would start asking me to pay more than I offer. 

Thanks for your reply. 
Much appreciated.

Grumpelstiltskin

Yes they can ask but you can also say I can't afford any more, then they have 2 choices accept what you offer or get nothing.

Brie

You could do an SOA for both of you and then look at how you would split responsibility for the bills.  You might take half the food, utilities, water, council tax and she would take the other half.  Then you take all the car bills etc.  You redo your SOA showing those with your income only and how much you have left to pay debts.  And offer that to the creditors.  

Grumpelstiltskin

Brie  OK but why produce a SOA if you don't want to, there is nothing to say you have to give your creditors a SOA.

stu12345_2

showing them  her earnings, benefits info will show that you are not as skint as you may be, it's normal practice that when you live with someone bills are shared based on the ratios of earnings you two get, it's how the DWP do etc 

if you only do your income  only they will think you are totally insolvent and think you can't even give them a penny a month, depends how fast you want to repay the debts, either informally in a dmp or formally via a dro, iva or bankruptcy, cos formally your wife's income will be used to see the total money coming into household 

Floss

Grumpelstiltskin said:

Brie  OK but why produce a SOA if you don't want to, there is nothing to say you have to give your creditors a SOA.

Even if it is not given to creditors it is a very useful thing to do, so one knows how much one actually has available for repayments.

DjangoUnchained

the way to deal with creditors is to tell them you dont wish to supply a SOA and wont be doing so, this is what you can afford, take it or leave it, simple.