Bankruptcy and Spouse

Answer: Yes, surplus income in bankruptcy is based on family income, so if you go bankrupt, your wife's income will impact your bankruptcy payment.

However, you are not required to pay 50% of her income if she is not bankrupt. Surplus income is calculated for the family, and then you pay only your portion of that income. Here is a link to an example surplus income calculation where there are two people in the family, and only one person is bankrupt.

Labels: bankruptcy, surplus income