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: Bankruptcy Law NetworkIf I File For Bankruptcy Do I Have To Include My Spouse?s Income?
By Kevin Gipson, New Orleans Bankruptcy Attorney
There are times when only one spouse in a marriage will want to file for bankruptcy. Some of the factors to consider in determining whether spouses should file a joint or separate bankruptcy are discussed by New Mexico Bankruptcy Attorney Gini Nelson in her article Must the Non-Filing Spouse?s Information Be Disclosed?
Unfortunately, even when only one spouse files for bankruptcy, the bankruptcy code requires that the income of both spouses must be included to determine the household income for purposes of the Means Test.
Ironically, only the actual financial contribution of a non-spouse room mate or significant other is used in calculating household income.
Full post as published by Bankruptcy Law Network on February 27, 2010 (boomark / email).
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