Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

#1898 Hello, sorry if this is a bit waffly but I hope someone can help.

I understand that with I&E in bankruptcy partner's income isn't counted as such.

However my OH gives me some money each month towards rent etc; this amount has varied as his income varies, and is likely to be a smaller amount than he currently pays me as early next year he's going to have to cut his hours to go back to college P/T.

My question is - what would happen if I were to go bankrupt and tell the OR that my husband pays me say X per month (based on likely scenario early next year) and the OR sees from the bank statements that he's been paying me more than that for the last couple of months?
By keepchinup
#1899 Hi,

You tell the OR what you HAVE been getting, and he will see anyway, but explain that there will be a change. If you can justify it, he will accept it, and make arrangements accordingly. They won't just take what you say on the forms, the telephone interview will ensure all this stuff is discussed.

Lot's of people income/expenditure changes at the time they bankrupt, as it's a way of starting again.

Just be 100% honest with them and you will never have to worry.
User avatar
By JaneClack
#1909 You don't have to say he gives you anything unless you want to. He is not responsible for your debts and you should stick to that. If he pays a little towards the rent that is fine but you should say this is not regular!
#1917 Thanks to both of you for your help!