SOA is this ok?

stroppy

Hi am just finishing off our SOA if I post it up here can anyone tell me if it seems ok?
We are a family of 5 our children are 10,5 and 3 we also have a dog.
Our debts are roughly £155,000 (am not going to list all as will take me hours!)They are mainly to do with our businesses over the last 8 years,(we have been running pubs)
It is my husband that is going bankrupt and we are hoping i will not have to do the same,although there does seem a lot of grey areas at the moment so we are aware it is a possibility in the future.
OH is planning to go to court on wednesday morning as they ofer a walk in service,I am so worried that we will put the wrong thing down and he will get refused bankruptcy,I have tried to read as much as I can off the forum and have made a few posts and got some really helpful answers, Thank you
Ok so here go's.....

INCOMING

WFTC/CTC = 1,120
Child benefit = 170
Child maintenance = 200 (for my eldest )

As we are self employed our income for the pub for last year was 0....but I do run an internet marketing business also which should earn me 1500 a month in the future,classed as a whole in our accounts last year combined they still earnt us zero! what do we put here?

TOTAL=2,990 ?

OUTGOING

Mortgage on current property= 1300(but moving out in 2 weeks to rented 770)
Which do we put?

C.Tax = 125
water=50
electric=90
gas=65
t.v liscence=12
phone/internet= 35 ( essential for my income )
accountant=20
life insurance =20
contents insurance =20
pet insurance=15
mobiles= 50
groceries=550
childcare=240
school meals=70
clothing =120
activities for children=40
activities for us =20 ?
Haircuts = 35
Opticians = 20
Holidays=80
Christmas =20

TOTAL = 2,977 or 2447 if going off rent figures not mortgage.
Our car is leased on a 12 month contract,we are into about 3 months of this contract,will this go in with the bankruptcy?

Thank you !

stroppy

Hi again,
I also own my own personal credit card im gathering that I wont be able to put this down as an outgoing?would i have to pay this out of any surplus?
Any advice would be much appreciated.

philnicandamy

Personal credit card for what?

stroppy

Its just a credit card in my name but as its just my OH going bankrupt i will still have to make my monthly repayments on mine.does this need to go on the form?thanks.

tigerfeet2006

stroppy wrote: »

Hi am just finishing off our SOA if I post it up here can anyone tell me if it seems ok?
We are a family of 5 our children are 10,5 and 3 we also have a dog.
Our debts are roughly £155,000 (am not going to list all as will take me hours!)They are mainly to do with our businesses over the last 8 years,(we have been running pubs)
It is my husband that is going bankrupt and we are hoping i will not have to do the same,although there does seem a lot of grey areas at the moment so we are aware it is a possibility in the future.
OH is planning to go to court on wednesday morning as they ofer a walk in service,I am so worried that we will put the wrong thing down and he will get refused bankruptcy,I have tried to read as much as I can off the forum and have made a few posts and got some really helpful answers, Thank you
Ok so here go's.....

INCOMING

WFTC/CTC = 1,120
Child benefit = 170
Child maintenance = 200 (for my eldest )

As we are self employed our income for the pub for last year was 0....but I do run an internet marketing business also which should earn me 1500 a month in the future,classed as a whole in our accounts last year combined they still earnt us zero! what do we put here? If you have not earned anything you can't put anything down
Give Business Debtline a ring and go through things with them..

TOTAL=2,990 ?

OUTGOING

Mortgage on current property= 1300(but moving out in 2 weeks to rented 770)
Which do we put? Which ever one is current at the time of BR. When you move you then inform your OR within 21 days.

C.Tax = 125
water=50
electric=90
gas=65
t.v liscence=12
phone/internet= 35 ( essential for my income ) Loose the word internet.
accountant=20
life insurance =20
contents insurance =20
pet insurance=15
mobiles= 50 Is this your DH's mobile or yours?
groceries=550
childcare=240
school meals=70
clothing =120
activities for children=40
activities for us =20 ? Nope!
Haircuts = 35
Opticians = 20
Holidays=80
Christmas =20 leave but will probably be cut.

TOTAL = 2,977 or 2447 if going off rent figures not mortgage.
Our car is leased on a 12 month contract,we are into about 3 months of this contract,will this go in with the bankruptcy? Not 100% on this but I think if the cost is reasonable it should be fine. How much are you paying? You haven't put any car costs in your SOA. Hopefully someone can answer this. Or try ringing the Insolvency Service a ring, number in my sig.

Thank you !

Hope some of that helps. Others will be along to help soon.

tigerfeet2006

stroppy wrote: »

Its just a credit card in my name but as its just my OH going bankrupt i will still have to make my monthly repayments on mine.does this need to go on the form?thanks.

On the SOA you put your DH income, the joint household bills, his personal expenses. In the does anybody else contribute you put the amount you pay to the joint household bills less your personal expenses.

Are you claiming all you should. Check out www.entitledto.com to find out.

Also sign up to your local freecycle groups www.freecycle.org and click on browse groups.

EDIT: meant to say as long as you have taken professional advice from one of the debt charities and they have suggested BR then you will not be refused. The only reason you could be refused is because you haven't done this and the judge may send you away untill you do. The debt charities can also help you with the forms to make sure they are correct.

stroppy

we have spoken to the BDL and CAB on the telephone,is that enough just to say that?
Monthly car payments are 438.....which seems a lot to me!

mysterio_2

"have you taken professional advice" this can mean a telephone interview with one of the debt agencies....or a face to face interview

tigerfeet2006

stroppy wrote: »

we have spoken to the BDL and CAB on the telephone,is that enough just to say that?
Monthly car payments are 438.....which seems a lot to me!

That is fine to say this to the judge. You can always talk to BDL at any time they are open if you have any worries.

It is a lot for a car isn't it :eek:. I am guessing the OR will say no. Ring the Insolvency Service and ask them. Or email them, it might take a few days to get back to you but at least you know they have spent some time checking the answer.
[EMAIL="insolvency.enquiryline@insolvency.gsi.gov.uk"]insolvency.enquiryline@insolvency.gsi.gov.uk[/EMAIL]

stroppy

Thanks for everyones help and advice on these issues, forms are now nearly all done,head is thumping and I think a large glass of wine is needed!
Just got to hold out till wednesday now....it seems a long time away :eek:

stroppy

Hi again,its for two mobiles?mine and OH is this a problem?panic setting in.....