SOA. IPA total ?????

yellowmonkey

Hi

If I post my SOA would you kind people be able to work out for me the amount of a possible IPA. I know it is a bit cheeky but nothing ventured etc

dalip

Yes fire away. We need to know how many in the household and if anyone else contributes to the bills,any benefits.D

fermi

We can have a go, but what each OR will allow or disallows in an I&E is never 100% certain.

An SOA for bankruptcy is often very different from a typical DFW one. Mainly because you have to build in quite generous allowances to account for the fact that you will no longer be able to use credit to cope with anything unforeseen. Plus the OR is normally more generous in what they will allow compared to a typical SOA for a DMP say.

Post it up and people will comment and make suggestions.

yellowmonkey

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1740
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1740

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 300
Management charge (leasehold property).. 0
Council tax............................. 115
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 38
Telephone (land line)................... 25
Mobile phone............................ 5
TV Licence.............................. 12
Satellite/Cable TV...................... 36
Internet Services....................... 12
Groceries etc. ......................... 300
Clothing................................ 0
Petrol/diesel........................... 150
Road tax................................ 0
Car Insurance........................... 35
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 200
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 29.3
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1357.3

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 1000

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
egg loan.......................12849.....115.......0
egg CC.........................2110......19........0
FIRST DIRECT...................8378......75........0
Halifax OD.....................4227.71...38........0
ARGOS..........................434.......3.8.......0
Total unsecured debts..........27998.71..250.8.....-

Monthly Budget Summary
Total monthly income.................... 1,740
Expenses (including secured debts)....... 1,357.3
Available for debt repayments........... 382.7
Monthly UNsecured debt repayments....... 250.8
Surplus(deficit if negative)............ 131.9

Personal Balance Sheet Summary
Total assets (things you own)........... 1,000
Total Secured debt...................... -0
Total Unsecured debt.................... -27,998.71
Net Assets.............................. -26,998.71

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

yellowmonkey

There are 4 in my house hold. 2 adults and 2 children 7 & 5. I also have 2 Sons from a previous relationship who visit occasionally 16 & 9. I recieve no benifits.

Many Thanks

ym

dalip

yellowmonkey wrote: »

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1740
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1740

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 300
Management charge (leasehold property).. 0
Council tax............................. 115
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 38
Telephone (land line)................... 25
Mobile phone............................ 5
TV Licence.............................. 12
Satellite/Cable TV...................... 36not allowed
Internet Services....................... 12unless you can prove you need it for work,not allowed Just add it to phone
Groceries etc. ......................... 300:eek: for 1 person,£170 max Make this about £450-£500
Clothing................................ 0£110
Petrol/diesel........................... 150
Road tax................................ 0
Car Insurance........................... 35
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 200?
Medical (prescriptions, dentist etc).... 0£30£50
Pet insurance/vet bills................. 0£20
Buildings insurance..................... 0
Contents insurance...................... 0£20
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 29.3why so precise?£30
Holiday................................. 0£50
Emergency fund.......................... 0
Total monthly expenses.................. 1357.3

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 1000

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
egg loan.......................12849.....115.......0
egg CC.........................2110......19........0
FIRST DIRECT...................8378......75........0
Halifax OD.....................4227.71...38........0
ARGOS..........................434.......3.8.......0
Total unsecured debts..........27998.71..250.8.....-

Monthly Budget Summary
Total monthly income.................... 1,740
Expenses (including secured debts)....... 1,357.3
Available for debt repayments........... 382.7
Monthly UNsecured debt repayments....... 250.8
Surplus(deficit if negative)............ 131.9

Personal Balance Sheet Summary
Total assets (things you own)........... 1,000
Total Secured debt...................... -0
Total Unsecured debt.................... -27,998.71
Net Assets.............................. -26,998.71

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

If this is for just you then ok. If you have a partner/children then these amounts can be increased,depending on whether there is any other income coming into the house or not.D

Ah just read that bit about 4 in the house. If your wife is not working then those amounts can be increased a lot.
Just added a few things,working on no other income coming into a household of 4.

yellowmonkey

Thanks dalip.

That is for a family of 4 and the 29.30 is my monthly subs for my golf membership . You dont need to tell me but I think that will have to go

The £200 for other child related is Maintenance that I pay to my sons mother. Could not find a row for that

dalip

We crossed YM:p . Yes think the golf will have to come out of any surplus you may have. Never understood golf anyway.lol

yellowmonkey

I understand it just cant play it

philnicandamy

same as me......my handicap was the clubs!

dalip

Discounting the golf:D ,i get the figures to about £115 surplus. I also upped your mobile to £20 and put h/k at £450,then added the internet to landline and made it £40. As those figures stand you would be looking at an IPA of about £60 a month. May be able to squeeze some more though, see what skylight or peachey say. They are usually good at i&e.D