Surplus income for joint bankruptcy
March 19th, 2007 by Questions
My husband and I are unable to afford our debts. Neither of us co-signed for the other’s debts. There is no way he can afford to pay for his debts and expects to declare bankruptcy shortly.
I am trying to pay down my debts, but I’m worried that I won’t be able to, and if I can’t, I might need to declare bankruptcy next year. (I might get a raise at the end of the year that would let me afford my payments, but I might not get it.)
If he declares this year, and I declare next year, will the surplus income amount be applied to our household for 9 months now, and again when I declare a year from now?
Is it just better for everyone if we declare individually at the same time? (Our debts amounts are too different to declare jointly.)