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Family Income

After filing for bankruptcy, do I show only my pay stubs, or do I have to show the entire family’s pay stubs(spouse, children).
Because it is my own debt, I should be paying the trustee based on my income. Does my family’s income increase the amount that I owe to the trustee?

Posted from: British Columbia

One Response to “Family Income”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

You will need to provide verification of income for all members of the household. This is required, if you refuse to discolse the amount of income for everyone else the legislation stipulates that the amount of allowable income is drastically reduced (i.e. 50% of the amount that would otherwise have been available).

But rest assured your payment is calculated based on your percentage of the household income. So you won’t be making payments solely based on the income of the others.