My husband and I are about to divorce. We have approx. £80,000 - £100,000 worth of debts. he is going to declare himself Bankrupt. I have the two adopted children for which I receive an Adoption Allownace. Is this included in any income if I was to try and go Bankrupt?
Sorry to hear your situation, and i hope things turn out ok for you. With regard to the adoption allowance, list this on the forms as an income but also list the same amount as an expenditure, as the allowance is given to provide for the children and as such should not be included in the household income & expenditure and be used to calculate your disposable income
Hope this helps
Melanie Nicholas 29 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
Welcome to the forum and I am so sorry to learn of your impending divorce action. It is never easy, and more difficult when there are other associated problems.
This forum is great for sharing ideas, and for getting real advice and moving forward.
Melanie is one of the best insolvency experts in the UK and there are others on the left hand side of the page too.
They will be able to make some sensible suggestions for your future.
Is there a property and is it in joint ownership?
Is there any equity? Are there any other charges against the property and are there any arrears?
Come back to the forum or make direct contact with one of the insolvency experts.
Good luck, Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and one of my best heroes!!)
My husband and I are about to divorce.
Posted - 25 January 2010 : 13:23:20
