Do I Need To Include My Spouse’s Income and Expenses on My Bankruptcy Forms?
When considering filing for bankruptcy, including your spouse's income and expenses on the forms is an important step. In the majority of cases, it is necessary to include both incomes for accurate filing. Leaving out any pertinent information can lead to mistakes or incomplete paperwork, both of which can result in delays or denials of bankruptcy applications.
For married couples living together, whether jointly filing or not, creditors need to know what financial resources are available so they may accurately assess the situation and make decisions regarding repayment plans and discharge orders. When filling out the forms it is important that all assets and liabilities be reported accurately as well as sources of income from either partner. This includes wages from employment, pension payments and other sources such as alimony or workers' compensation.
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