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Bankruptcy And A Prenup

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Bankruptcy And A Prenup

Postby Merewode » Sun Nov 27, 2016 7:37 pm

Can a prenuptial agreement protect my fiancee's income from my chapter 13 bankruptcy? I have been told that if we get married, our incomes will combine and I will have to pay almost my whole paycheck because he makes so much more than me. This just doesn't seem fair to me... So if we sign a prenup that states his money is only his and mine is mine, they can't take his income into consideration can they?
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Bankruptcy And A Prenup

Postby Roldan » Sun Nov 27, 2016 10:42 pm

Can a prenuptial agreement protect my fiancee's income from my chapter 13 bankruptcy? I have been told that if we get married, our incomes will combine and I will have to pay almost my whole paycheck because he makes so much more than me. This just doesn't seem fair to me... So if we sign a prenup that states his money is only his and mine is mine, they can't take his income into consideration can they?
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Bankruptcy And A Prenup

Postby Seabrook » Thu Dec 01, 2016 12:05 pm

You have to complete a form called the "means test analysis" this calculates all household income from all sources, then computes it against the IRS standard income and allowable expenses for your household size in order to determine how much of your debt you would have to pay back in a chapter 13.  If you 'pass' the means test and show that you don't have any disposable household income, then you may qualify for a chapter 7.  You should seek a local bankruptcy attorney to help work you thru this calculation.  A prenuptual agreement has no effect towards a bankruptcy.
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