Bankruptcy advice pre-pay cards official receiver what happens to my car MSE WANNABE

fiveyearplan

flaxvert wrote: »

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 774.94
Other income............................ 0 what about child benefit
Total monthly income.................... 774.94

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 86
Electricity............................. 43.33 £44
Gas..................................... 0
Oil..................................... 20.84
Water rates............................. 51
Telephone ................... 20 Put £57 and delete mobile (I deleted landline)
Mobile phone............................ 37
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 265.27 £265
Clothing................................ 0 need to put something here
Petrol/diesel........................... 0 ditto or it will look as if you don't need car
Road tax................................ 0 ditto
Car Insurance........................... 0 you must pay something for car
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 162.75 £163
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 important to put get this
Life assurance ......................... 60.02 not sure if this is allowed
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0 don't you 2 get your haircut
Entertainment........................... 0
Holiday................................. 0 you are allowed most amount here
Emergency fund.......................... 0
Total monthly expenses.................. 758.21

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 3500
Car(s).................................. 300
Other assets............................ 0
Total Assets............................ 3800

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 211000...(0)........5
Secured Debt.................. 2100.....(0)........0
Total secured debts........... 213100....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
british gas electric...........4211......4211......0
various small debts............850.......850.......0
Total unsecured debts..........5061......5061......-

Monthly Budget Summary
Total monthly income.................... 774.94
Expenses (including secured debts)....... 758.21
Available for debt repayments........... 16.73
Monthly UNsecured debt repayments....... 5,061
Surplus(deficit if negative)............ -5,044.27

Personal Balance Sheet Summary
Total assets (things you own)........... 3,800
Total Secured debt...................... -213,100
Total Unsecured debt.................... -5,061
Net Assets.............................. -214,361

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.[/font]

======== 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.


Additional... I have the 1 child with special needs and i have 1 car
which i use to get to his school once a week at least for courses on autism and parenting. I wouldn't say you only use once a week as a taxi may prove cheaper

Groceries came up on this list as £265 because there was no where to put housekeeping on the form. This is correct

This is a direct copy of the "common financial statement summary" from the CAB. Oh and what a fab util the calk was! Cheers phil!

My comments are above in red. In answer to your other post, I have no idea how long before repossession and eviction.

flaxvert

Happy!! Best thing i could have ever done! Not gonna die worrying anymore!

I have no your advice updated certain parts of this form.
Child benefits are included within "benefits"
Rounded up figures.
Added car insurance.
Petrol i had included as other travel but have split it now.
Added holiday and birthday funds.
Oh and i use my car everyday to collect my son from school.
My life insurance is part of my AXA which i mght loose to the OR, but its £60.02 every month.

Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 775
Other income............................ 0
Total monthly income.................... 775

Monthly Expense Details
Mortgage................................ 1500
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 86
Electricity............................. 44
Gas..................................... 0
Oil..................................... 21
Water rates............................. 51
Telephone (land line)................... 57
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 265
Clothing................................ 40
Petrol/diesel........................... 100
Road tax................................ 17
Car Insurance........................... 20
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 63
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 60
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 7
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 2433

Assets
Cash.................................... 0
House value (Gross)..................... 150000
Shares and bonds........................ 0
Car(s).................................. 300
Other assets............................ 3100
Total Assets............................ 153400

fiveyearplan

That looks better, obviously you'll lose the mortgage payment and if you're in your rented flat before BR then change it to your new rent. The OR may take things like presents out and lower your holiday but seeing as you don't have any disposable income and you're on benefits, you won't end up with an IPA anyway. You may want to add your child benefit in even thought it cannot be used to calculate an IPA your income and expenditure would then balance out (at least once you ditch the mortgage) and on paper anyway it looks like things will be tight but you could manage.

flaxvert

Happy!! Best thing i could have ever done! Not gonna die worrying anymore!

I have just had a review from the OR regarding my financies and there has been no change to my circumstances as follows: I can still keep the car as im still looking for work, my pension is safe with the royal mail, the council is paying for the private rented house me and my son are in (pleased i found a landlord that was willing to take on a DSS case!) Council tax is being paid for me as im now in income support. They dont want any of my income which is good as i have DLA £250 a month, Carers Allowance £37 a week, Income Support £60 a week, Child Tax Credit and Child Benifit. I am now living very comfortably caring for my autistic son so thank you bankruptcy. My house/shop has been repoed but there not chasing me for the mony as they have been informed of the situation from the OR. Carphone Warehouse on the other hand have traced me to my ney addy and are now threating the bailiffs but ive been onto the OR and hes told me to forward all correspondance to him and not to worry and especially not to get in contact with TCW.