surplus income and spouse
My partner makes most of his money through his own business. I do not work. If I file for bankruptcy will he have to pay surplus income for me if he makes over the threshold?
My partner makes most of his money through his own business. I do not work. If I file for bankruptcy will he have to pay surplus income for me if he makes over the threshold?
The way the surplus calculation is done is based on your percentage of the total family income. So while the cost of a bankruptcy does not directly fluctuate with your partners income, indirectly it can have an impact on the calculation. Be sure to review this with a licensed trustee, have him outline the calculation prior to signing anything so that you can full understand the ramifications of surplus.