A bit confused?

[debtfree09]

Going to keep it short and simple:

Married but filing separately, as I don't have any income right now but my wife does. My wife makes about $3k per month, and we own a house (only in her name though). When I file for bankruptcy, should I list her income at all? All of the debts that I have, were incurred over 5 years ago, which was before we were married. I don't really have any assets outside of an IRA and about $700 in sellable stocks. Please let me know if there is anymore info that should be provided. Thanx.

[iv65536]

Answering your questions will require us to know what state you are in.

[debtfree09]

Answering your questions will require us to know what state you are in.

Texas...Only weird thing that I noticed about filing here, was that they allow $30k in personal property exemptions.

[debtfree09]

Anyone?

[LadyInTheRed]

Assuming your wife is contributing her entire income to the household, yes, you will include her income.

[october99]

I've been reading a lot about this and you would have to include her income, but you should be able to use the marital adjustment to omit income she owes individually that is not contributed to the household.

Things that may be included in the marital adjustment:

withholding taxes
student loan payments
term life insurance payment
car payment

Page 3 of

http://www.justice.gov/ust/eo/bapcpa...ne_by_line.pdf

[debtfree09]

Thanx for your responses, I figured that was what I needed to do, but I was a bit unsure.

[tcreegan]

Texas state and federal exemptions?

Hello debtfree09,

If I am not mistaken, Texas is one of the states that allows you to pick either state or federal property exemptions.......and you can take whichever is better for you in each category....might be confusing Texas with some other state though....

Tom in Colo