Even if your spouse is not considering filing personal bankruptcy or making a consumer proposal, you still need to disclose their income. The reason that you’re required to disclose your spouse’s income is because they are part of your family unit. Their income forms part of your total family income and it affects your ability to pay creditors. Your creditors cannot expect your spouse to pay them from their income. However your spouse’s income is helping to reduce your living expenses and therefore means you should have the ability o pay more to your creditors. To see exactly how your spouse’s income affects the amount you would be required to pay if you filed personal bankruptcy you can check out our surplus income payment calculator.
-Chris Welker
