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Spousal income

If I am a family of 4 and only one of us goes bankrupt. My spouse makes about 5000.00 more than the $ 3400.00 / month in the household. Does my bankruptcy effect his income? Since I am the bankrupt person does he have to pay 50% of his income to the trustee or is it just me that would have to pay over and above the
$ 3400.00 / month?

Posted from: Alberta

One Response to “Spousal income”

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

This surplus income calculation can be a little confusing, but really it works out that you will pay only based on your percentage of the household income. So you go through the formula, subtract the amount allowed out of your income, take the 50% and then multiply by your percentage of the household income.