Many times both partners in the marriage do not intend on going bankrupt. Perhaps the man has decided this is what is best. Both are working and the wife does not want to claim bankruptcy. This will still have an effect on how you as the man must do your bankruptcy filing. You definitely should consult with a Louisville bankruptcy lawyer to gain assistance through your bankruptcy.
The big factor will be if you are sharing the same household then you will have to include your wife’s income in your disclosure. When you have to complete the means test for the Chapter 7 bankruptcy, this is where you will need to list her income. If you are applying for a Chapter 13 bankruptcy you have to fill out a form disclosing your disposable income and this is where you would list your wife’s income for this particular bankruptcy.
This can make bankruptcy a little difficult when you have to claim your spouse’s income. Adding it to your income may mean that you will not qualify for the Chapter 7. At the same time it can increase the size of your payments when they are being negotiated in the Chapter 13 option. It is even tougher if your spouse has her own debts and obligations that are coming out of her income.
The one positive aspect that may come into play, is that you will be able to use the marital adjustment deduction to help reduce the amount of income she is contributing. This will help to reduce the overall amount somewhat.