my SOA

riquelme

hi everyone, thanks for all your pm's wishing me well. its been a tough week after telling my wife about my gambling problems. but been going to gamblers anon , installed gamblock ion my computer, my wife has my credit cards and im going to self exclude myself from the local bookies. its been touch and go this wek whether i would still be living at home.

ive been waiting and planning for my CCCs interview tommorrow can someone take a look and offer any feedback and a rough estimate as to how much i would be offering my creditors per month (my wife is worried that it is going to \leave us with virtually nothing as a family)

also why is my wifes income taken into consideration when it has nothing to do with her
Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1630
Partners monthly income after tax....... 500
Benefits................................ 43
Other income............................ 0
Total monthly income.................... 2173

Monthly Expense Details
Mortgage................................ 252.94
Secured loan repayments................. 74.77
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 101
Electricity............................. 45
Gas..................................... 45
Oil..................................... 0
Water rates............................. 43.86
Telephone (land line)................... 9
Mobile phone............................ 15
TV Licence.............................. 11
Satellite/Cable TV...................... 16
Internet Services....................... 10
Groceries etc. ......................... 400
Clothing................................ 30
Petrol/diesel........................... 120
Road tax................................ 15
Car Insurance........................... 18.9
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 64
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 3
Pet insurance/vet bills................. 0
Buildings insurance..................... 12.3
Contents insurance...................... 12.3
Life assurance ......................... 5
Other insurance......................... 37.6
Presents (birthday, christmas etc)...... 20
Haircuts................................ 10
Entertainment........................... 30
Holiday................................. 100
Emergency fund.......................... 20
Total monthly expenses.................. 1536.67

Assets
Cash.................................... 0
House value (Gross)..................... 125000
Shares and bonds........................ 0
Car(s).................................. 1800
Other assets............................ 0
Total Assets............................ 126800

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 48000....(252.94)...0
Secured Debt.................. 10000....(74.77)....0
Total secured debts........... 58000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
tesco loan.....................9270......163.......0
citi card......................1326......30........0
abbey cc.......................9204......300.......0
barclays current acc...........3260......0.........0
direct line loan...............215.......107.......0
Total unsecured debts..........23275.....600.......-

Monthly Budget Summary
Total monthly income.................... 2,173
Expenses (including secured debts)....... 1,536.67
Available for debt repayments........... 636.33
Monthly UNsecured debt repayments....... 600
Surplus(deficit if negative)............ 36.33

Personal Balance Sheet Summary
Total assets (things you own)........... 126,800
Total Secured debt...................... -58,000
Total Unsecured debt.................... -23,275
Net Assets.............................. 45,525

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.

Jacks_xxx

Hey sweetie, :wave:

I'm just off out the door so I'll have a proper look later on.

So far the only thing that jumped out at me is that you need to look up all the interest rates for the debts as they can make a massive difference to how fast you pay things off,

Oh and tell your wife if you go into a DMP with CCCS some of the allowances are better than what you've allowed yourself in this SOA.

A last quick tip before I fly - when you fill in your budget for CCCS try to add in something for each category - even car parking and a daily paper etc. Those little bits will help when you're living on the budget you set.

AND I couldn't see Child Benefit (might have missed it)

I would boost Medical & Prescriptions significantly. Even if you just buy a bottle of cough syrup and some painkillers that's a tenner gone these days and you're going to need to go the dentist at some point. One of you may start needing glasses or something during teh time that you're on your DMp...

Hope that makes sense . I haven't got time to check it before I go and I just didn't want to leave you hanging.

Love Jacks xxx

kazwookie

I 'think' your wifes income is also included, as you are considered 'one' and therefore your debts are also her debts!!

How ever I am sure someone with more knowledge will be along soon.

The £400 food, how many does this feed?
Do you have items you can sell or ebay to help the money side of things?
Are you claiming all the benefits you are entitled to?
Do you have any children?

Well done for posting up.

rayday2

You will probably find that after the CCCS have advised you, you will have more to live off than you are used to now. However, if that is the case it is important to get some savings accounts set up for different funds, like Christmas, birthdays, household repairs, emergencies and then a fund for things you can't plan!

Staciep88

riquelme wrote: »

hi everyone, thanks for all your pm's wishing me well. its been a tough week after telling my wife about my gambling problems. but been going to gamblers anon , installed gamblock ion my computer, my wife has my credit cards and im going to self exclude myself from the local bookies. its been touch and go this wek whether i would still be living at home.

ive been waiting and planning for my CCCs interview tommorrow can someone take a look and offer any feedback and a rough estimate as to how much i would be offering my creditors per month (my wife is worried that it is going to \leave us with virtually nothing as a family)

also why is my wifes income taken into consideration when it has nothing to do with her
Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1630
Partners monthly income after tax....... 500
Benefits................................ 43
Other income............................ 0
Total monthly income.................... 2173

Monthly Expense Details
Mortgage................................ 252.94
Secured loan repayments................. 74.77
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 101 could this be paid over 12 months instead of 10 months?
Electricity............................. 45 could u switch?
Gas..................................... 45 could u switch?
Oil..................................... 0
Water rates............................. 43.86 could u switch?
Telephone (land line)................... 9
Mobile phone............................ 15
TV Licence.............................. 11
Satellite/Cable TV...................... 16 could you just have freeview - its very good
Internet Services....................... 10
Groceries etc. ......................... 400 are you feeding an army?!
Clothing................................ 30 seems alot
Petrol/diesel........................... 120
Road tax................................ 15
Car Insurance........................... 18.9
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 64
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 3
Pet insurance/vet bills................. 0
Buildings insurance..................... 12.3
Contents insurance...................... 12.3
Life assurance ......................... 5
Other insurance......................... 37.6
Presents (birthday, christmas etc)...... 20
Haircuts................................ 10
Entertainment........................... 30
Holiday................................. 100 do u really need a holiday? Why not wait until your debts are cleared?
Emergency fund.......................... 20
Total monthly expenses.................. 1536.67

Assets
Cash.................................... 0
House value (Gross)..................... 125000
Shares and bonds........................ 0
Car(s).................................. 1800
Other assets............................ 0
Total Assets............................ 126800

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 48000....(252.94)...0
Secured Debt.................. 10000....(74.77)....0
Total secured debts........... 58000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
tesco loan.....................9270......163.......0
citi card......................1326......30........0
abbey cc.......................9204......300.......0
barclays current acc...........3260......0.........0
direct line loan...............215.......107.......0
Total unsecured debts..........23275.....600.......-

Monthly Budget Summary
Total monthly income.................... 2,173
Expenses (including secured debts)....... 1,536.67
Available for debt repayments........... 636.33
Monthly UNsecured debt repayments....... 600
Surplus(deficit if negative)............ 36.33

Personal Balance Sheet Summary
Total assets (things you own)........... 126,800
Total Secured debt...................... -58,000
Total Unsecured debt.................... -23,275
Net Assets.............................. 45,525

Created using the SOA calculator at 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.

there the things that jump out at me

rayday2

It is important going on a DMP to have a clothes budget, also the food is probably about what CCCS would recommend to include cleaning stuff etc

Some other things I would think of are do you have any regular prescriptions, eye tests, or dentist and add them up for the year and spread them out over the 12 months.

If you have any pets (which you are allowed) then put them down with food and vets etc.

I also put down school dinners on mine, if your children have them don't forget to put it down!

peb

Hello - missed your earlier thread.

There are two types of SoA - one, as suggested by Jacs and Rayday which is for submission to CCCS and makes sure you have enough to live comfortably on - you won't be able to borrow any more money so you need to build up reserves for washing machine breakdown and medical costs.

The other, as highlighted by Stacie, is to stop you spending more than necessary so that you can save and get rid of your debts asap or pay for the occasional treat.

It is however possible for you (and not your wife) to be on a DMP - I can't off the top of my head think of an example from the board but there are some people doing this. Have a look at teh DMP support thread as well.

HTH

rayday2

Newlywed is on a DMP and not her partner (hope you don't mind me singling you out) anyway there is lots of support on the DMP thread so you should come along anyway!

riquelme

thnaks everyone, we have 2 kids and just been told by OH the amount we have just spent on kids uniforms = £200,

the cccs form isnt as detailed as i thought it would be, the general\ living costs are covered such as xmas, haircuts, birthdays - which all get expensive with kids.

anyway im sure the interviewer will be very helpful and advise me as to what i can and cant do

thanks all... as i speak the OH has ben helping me...i soooo relieved at this, i really want her by my side through this.

xx to all xx

strumpet

Hi Riq,

I don't have any advice as such to give, but just wanted to say that I admire your courage to face up to your issues. That takes a lot. Well done and good luck!

Strumpet
xxx

tsharp

One thing i never understand about SOAs is things like clothes shopping or birthdays/xmas per month etc.

I can go for months without buying clothes, and when I do it never tops £100 in a single spree, so any monthly estimate would be a wild guess. Ditto with birthday and xmas spending, if I threw in a best guess it probably wouldn't represent my true spending.