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Handing keys back to lender
Comments
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Try putting it on a post of it's own, it will get a lot of traffic to it then if people know theres a SOA on you need help with.
Molly
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<===== Copy and paste EVERYTHING below this line into your MSE post =====>
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1250
Partners monthly income after tax....... 360
Benefits................................ 267
Other income............................ 0
Total monthly income.................... 1877
Monthly Expense Details
Mortgage................................ 825
Secured loan repayments................. 120
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 144
Electricity............................. 90
Gas..................................... 67
Oil..................................... 0
Water rates............................. 38
Telephone (land line)................... 44
Mobile phone............................ 75
TV Licence.............................. 11
Satellite/Cable TV...................... 47
Internet Services....................... 18
Groceries etc. ......................... 400
Clothing................................ 50
Petrol/diesel........................... 80
Road tax................................ 17
Car Insurance........................... 53
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 45
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 30
Buildings insurance..................... 35
Contents insurance...................... 0
Life assurance ......................... 55
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 20
Entertainment........................... 50
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2344
Assets
Cash.................................... 0
House value (Gross)..................... 185000
Shares and bonds........................ 0
Car(s).................................. 2750
Other assets............................ 0
Total Assets............................ 187750
Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 165000...(825)......5.99
Secured Debt.................. 17000....(120)......7.1
Total secured debts........... 182000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
RBS............................20200.....0.........0
Barclaycard....................750.......0.........0
Barclaycard....................450.......0.........0
Barclays.......................3600......0.........0
Egg............................2000......0.........0
Next...........................800.......0.........0
HFC............................1500......0.........0
HFC............................1100......0.........0
Total unsecured debts..........30400.....0.........-
Monthly Budget Summary
Total monthly income.................... 1,877
Expenses (including secured debts)....... 2,344
Available for debt repayments........... -467
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ -467
Personal Balance Sheet Summary
Total assets (things you own)........... 187,750
Total Secured debt...................... -182,000
Total Unsecured debt.................... -30,400
Net Assets.............................. -24,650
Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.
======== Enter any other useful information below ========
e.g. the number of adults & children in the household, the number
of cars included in the SOA or anything else that may be useful. Hi I have cut back on things0 -
<===== Copy and paste EVERYTHING below this line into your MSE post =====>
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1250
Partners monthly income after tax....... 360
Benefits................................ 267
Other income............................ 0
Total monthly income.................... 1877
Monthly Expense Details
Mortgage................................ 825
Secured loan repayments................. 120
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 144
Electricity............................. 90 this is high does it include arrears?
Gas..................................... 67ditto?
Oil..................................... 0
Water rates............................. 38
Telephone (land line)................... 44
Mobile phone............................ 75this is to high OR will cut this to about £30/40. Are you on a contract?
TV Licence.............................. 11
Satellite/Cable TV...................... 47 This is not an allowable expense in BR and will have to come out of your surplus
Internet Services....................... 18 ditto
Groceries etc. ......................... 400 this can be upped to £450 if needs be.
Clothing................................ 50
Petrol/diesel........................... 80
Road tax................................ 17
Car Insurance........................... 53 Very high
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 45 Is this clubs/ activities?
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 30 very high OR will probably cut to £20
Buildings insurance..................... 35
Contents insurance...................... 0 You need this
Life assurance ......................... 55 This is high can it be reduced
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 OR probably won't allow this, but leave and see.
Haircuts................................ 20 £10 per adult £5 per child
Entertainment........................... 50 Not allowed
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2344
Areas where you can reduce your outgoings are electricity/gas. Go on to USwitch and see if you can get a better deal.
If your mobiles are on contract, stop paying and buy cheap PAYG ones, then you can only top up if you have money and it concentraits the mind about using it. The contract will go into your BR
Internet and Sky will have to come out of any surplus you have. Why not talk to sky and get their phone/sky/internet deal? Also reduce your Sky package. We have the £21 a month one and that is fine.
Go through the comparison sites to reduce your car insurance and life insurance. Will get a link.
Also pet insurance and you must get contents insurance.
Hopefully that will get your bills down.
Link for you http://www.moneysavingexpert.com/insurance/BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0 -
Would a comparable size rental property be less than the £945 you are paying for mortgage and secured loan?
If you go for voluntary repo. and BR. You need to stop paying mortgage, SL, debts but carry on paying essentials like utilities, council tax etc. Save the money for your deposit and BR fees. Move into a rental property and then go BR.BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0 -
She has another post dedicated to her SOA
Just letting you know as some of us have started over there as well 
ditto tigerfeet0 -
Hello Tigerfeet, rental property would be approx £650-£750 we down graded but rental on same property would be £800, so yes this would be cheaper but worried about being in rented having to keep moveing if only short term let, and we would need to re-home our dogs, as every advert states no pets0
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Queen will repost this on your other threadBSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0
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