One Response to “Is my spouse’s income taken into account in anyway?”
Desmond West-Chow, CIRP, Trustee said...
When calculating your monthly payments in a bankruptcy, a trustee is required to use a guideline provided by the Office of the Superintendent of Bankruptcy. This guideline takes into account aspects of the household situation which include number of people in your family household and income received by those people. There is an option of not disclosing a spouse’s income but it would be best to speak to a local trustee and review how your situation fits into the guideline with them and discuss the options you may have.
When calculating your monthly payments in a bankruptcy, a trustee is required to use a guideline provided by the Office of the Superintendent of Bankruptcy. This guideline takes into account aspects of the household situation which include number of people in your family household and income received by those people. There is an option of not disclosing a spouse’s income but it would be best to speak to a local trustee and review how your situation fits into the guideline with them and discuss the options you may have.