Our SOA

tigger23

This is for my partner and I, so if some of the figures look high then it's probably because it's for both of us.

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 376 (in the process of applying)
Other income............................ 0
Total monthly income.................... 376

Monthly Expense Details
Mortgage................................ 305 (a reduced rate for 3 months)
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 96 (will apply for council tax benefit once other claim goes through)
Electricity............................. 25 (estimated because we pay quarterly and haven't had a winter yet)
Gas..................................... 20 (estimated because we pay quarterly and haven't had a winter yet)
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 10.5
Mobile phone............................ 30
TV Licence.............................. 27.9
Satellite/Cable TV...................... 18
Internet Services....................... 5
Groceries etc. ......................... 70 (including dog food)
Clothing................................ 0
Petrol/diesel........................... 40
Road tax................................ 0
Car Insurance........................... 63
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 15
Contents insurance...................... 0
Life assurance ......................... 10
Other insurance......................... 14
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 73 (£30 a month gym membership each, which we'd love to cancel but only took out in June and it's a 12 month contract. Also £13 LoveFilm which we're cancelling today.)
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 822.4

Assets
Cash.................................... 0
House value (Gross)..................... 90000
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 91500

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 75000....(305)......NaN
Total secured debts........... 75000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Credit card....................450.......30........0
Total unsecured debts..........450.......30........-

Monthly Budget Summary
Total monthly income.................... 376
Expenses (including secured debts)....... 822.4
Available for debt repayments........... -446.4
Monthly UNsecured debt repayments....... 30
Surplus(deficit if negative)............ -476.4

Personal Balance Sheet Summary
Total assets (things you own)........... 91,500
Total Secured debt...................... -75,000
Total Unsecured debt.................... -450
Net Assets.............................. 16,050

Our last quarterly bill for electricity and gas was in August and we paid £39.48 and £14.14 respectively.

As we only bought our house in May, a lot of the things we pay for we're tied into contracts for. Also, I haven't included things like car tax or MOT because they're not due in the near future and we hope to have jobs and be out of this mess by then.

Numpty_Monkey

tigger23 wrote: »

This is for my partner and I, so if some of the figures look high then it's probably because it's for both of us.

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 0 ??
Partners monthly income after tax....... 0 ??
Benefits................................ 376 (in the process of applying)
Other income............................ 0
Total monthly income.................... 376 ??

Monthly Expense Details
Mortgage................................ 305 (a reduced rate for 3 months)
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 96 (will apply for council tax benefit once other claim goes through)
Electricity............................. 25 (estimated because we pay quarterly and haven't had a winter yet)This will be about double
Gas..................................... 20 (estimated because we pay quarterly and haven't had a winter yet)This will be about double
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 10.5
Mobile phone............................ 30 can you go payg
TV Licence.............................. 27.9, this should be £12
Satellite/Cable TV...................... 18, Cancel and get a freeveiw, or just usethe free channels
Internet Services....................... 5
Groceries etc. ......................... 70 (including dog food)
Clothing................................ 0
Petrol/diesel........................... 40
Road tax................................ 0
Car Insurance........................... 63 Check you are getting the best deal, go through casback sites for insurance
Car maintenance (including MOT)......... 0 need to budget for this
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0 need to budget for this
Pet insurance/vet bills................. 0
Buildings insurance..................... 15 as above
Contents insurance...................... 0
Life assurance ......................... 10 as above
Other insurance......................... 14 as above
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 73 (£30 a month gym membership each, which we'd love to cancel but only took out in June and it's a 12 month contract. Also £13 LoveFilm which we're cancelling today.) well done
Holiday................................. 0
Emergency fund.......................... 0 need to budget for this
Total monthly expenses.................. 822.4

Assets
Cash.................................... 0
House value (Gross)..................... 90000
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 91500

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 75000....(305)......NaN
Total secured debts........... 75000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Credit card....................450.......30........0
Total unsecured debts..........450.......30........-

Monthly Budget Summary
Total monthly income.................... 376
Expenses (including secured debts)....... 822.4
Available for debt repayments........... -446.4
Monthly UNsecured debt repayments....... 30
Surplus(deficit if negative)............ -476.4

Personal Balance Sheet Summary
Total assets (things you own)........... 91,500
Total Secured debt...................... -75,000
Total Unsecured debt.................... -450
Net Assets.............................. 16,050

Our last quarterly bill for electricity and gas was in August and we paid £39.48 and £14.14 respectively.

As we only bought our house in May, a lot of the things we pay for we're tied into contracts for. Also, I haven't included things like car tax or MOT because they're not due in the near future and we hope to have jobs and be out of this mess by then.

I've left a few comments in red, hope they are not to harsh
Your income/benifits is worrying :eek:
Are you getting all you can check out http://www.entitledto.com/
Your gas and elec bills will probably more than double nearer treble in the winter months

HTH :A

tigger23

Numpty_Monkey wrote: »

I've left a few comments in red, hope they are not to harsh
Your income/benifits is worrying :eek:
Are you getting all you can check out http://www.entitledto.com/
Your gas and elec bills will probably more than double nearer treble in the winter months

HTH :A

Thanks for your comments.

With regards to our income, at the moment it is 0 and has been since being out of work - temporary contracts came to an end and there's been nothing since. The £376 is my working out of Joint JSA, but we have our initial appointment with a personal advisor on Thursday so we'll see how that goes. Hopefully we'll be entitled to it, because then we can also claim for council tax benefit too.

Can't go PAYG as not long upgraded our phones and therefore started new contracts.

TV Licence isn't £12 yet as it's our very first one, and you have to pay £27.90 for the first 6 months before it drops to £12, which will be in January.

Can't cancel Sky as we only subscribed in September and, again, have a long contract.

The £63 car costs are £24 for me, £25 for partner and £13 in breakdown. Pretty confident we've got the best deals as we always look around before renewing. Will have a look around the comparison websites just in case, but I only renewed in September so, as usual, I think I'm tied to a 12 month contract with that.

Buildings, contents and life deals were also only taken out 6 months ago - we have to stick with the life assurance for 3 years because it was a condition of our mortgage deal. Shopped around for buildings and contents and was the cheapest we could get at the time.

We only have our heating on for an hour a day (half an hour in the morning and half an hour in the evening, just to take the chill off) - we've been wrapped in several jumpers and even duvets when it's really cold! Thankfully, we're used to living in a cold house as my partners parents cottage had no central heating!

Everything else that we need to budget for, I know! Ordinarily we budget for everything and have a contingency fund on top of that. Most of that has been used already on the past couple of months living expenses (we hoped to have a job by now but it's never been so difficult to find one!), I have just over a hundred in savings which I can use for car tax and MOT if I absolutely need to.

Neither of us have overdrafts so we were thinking of maybe trying to arrange a small one to cover personal bills, but we don't even know if we'd be allowed due to being unemployed. Plus, getting into further debt isn't exactly the brightest of ideas.

tyllwyd

To be honest, I don't think there is much anyone here can do to help - you've got £376 coming in between the two of you, and your mortgage alone is £305, so it is your income not your debt which is the problem. Is there nothing your partner can do to earn some money, even if it is just something like a tempory job in Royal Mail over Christmas.

When you say you've got two car insurances, does that mean you've got two cars? You've only put down £40 for petrol, so I assume not, but why do you have separate insurance? Shouldn't one of you just be a named driver on the other policy?

Renovatio

As you are currently tied to sky TV, it may be worth seeing if you can negotiate their telephone and broadband for free..it'll save you under £20 a month,but its a start.

Jvic28

When I was unemployed I claimed council tax benefit, JSA and housing benefit. Not sure if you might get a little towards paying of the mortgage but you should know after your review.

Really you need to try get some jobs though. There should be plenty at xmas, even if it's just working in Argos over the xmas period or something like that. You need to get more income.

God Luck

makingendsmeet_2

tigger23 wrote: »

This is for my partner and I, so if some of the figures look high then it's probably because it's for both of us.

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 376 (in the process of applying)
Other income............................ 0
Total monthly income.................... 376

Monthly Expense Details
Mortgage................................ 305 have you tried advising your lender that you are on JSA and you can't afford this. Mine were very good, they put me on intrest only and were unstanding that I am gonna struggle to make any payments for 9 months. Don't forget the DWP will only pay the intrest NOT the capital.
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 96 If you have no money to live on and your entitled to jsa from the day you became unemployed this will be back dated. Apply now for the benefit as you don't have to be on JSA to get it just a low income.
(Electricity............................. 25 (estimated because we pay quarterly and haven't had a winter yet) Look into social tariffs.
Gas..................................... 20 (estimated because we pay quarterly and haven't had a winter yet) Ditto
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 10.5 Bt do a social tariff for £4.50 a month (bt basic)
Mobile phone............................ 30 (Just get a PAYG you have other more important expenses, either loss your credit rating or lose the roof over your head.)
TV Licence.............................. 27.9 (this should be £12)
Satellite/Cable TV...................... 18 (same as mobile)
Internet Services....................... 5
Groceries etc. ......................... 70 This is good but try menu planning)
Clothing................................ 0
Petrol/diesel........................... 40
Road tax................................ 0
Car Insurance........................... 63 (what about trying TPFT if your car is of low value)
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 15
Contents insurance...................... 0
Life assurance ......................... 10 (do you really need this?)
Other insurance......................... 14 (what is this?)
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 73 (£30 a month gym membership each, which we'd love to cancel but only took out in June and it's a 12 month contract. Also £13 LoveFilm which we're cancelling today.) (just stop paying all of this)
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 822.4

Assets
Cash.................................... 0
House value (Gross)..................... 90000
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 91500

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 75000....(305)......NaN
Total secured debts........... 75000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Credit card....................450.......30........0
Total unsecured debts..........450.......30........-

Monthly Budget Summary
Total monthly income.................... 376
Expenses (including secured debts)....... 822.4
Available for debt repayments........... -446.4
Monthly UNsecured debt repayments....... 30
Surplus(deficit if negative)............ -476.4

Personal Balance Sheet Summary
Total assets (things you own)........... 91,500
Total Secured debt...................... -75,000
Total Unsecured debt.................... -450
Net Assets.............................. 16,050

Our last quarterly bill for electricity and gas was in August and we paid £39.48 and £14.14 respectively.

As we only bought our house in May, a lot of the things we pay for we're tied into contracts for. Also, I haven't included things like car tax or MOT because they're not due in the near future and we hope to have jobs and be out of this mess by then.

Like I have tried to point out. You are on the brink. Forget contact etc. The worse they can do is get a County Court Judgement against you. You may get a job and it won't even get that far.You need to keep yourself Fed and Housed for now. Try and ignore all the media doom and gloom of repos after 2 months missed payments etc. All Banks and building societys know the score on DWP 9 months wait etc. Although it is changing soon. You will find they are understanding once they realise your a can't pay not a won't pay.

Jvic28

Just to warn you they will chase you if you stop paying your gym membership. Eventually debt collectors will be after you for it and you'll end up paying for a gym membership you don't have.

The same for your phone. If you stop paying your contract, debt collectors will chase you for it and you'll end up paying for a contract you have no use of.

Just get your benefit claims in ASAP and get looking for work. I'm sure it'll all work out.

tigger23

makingendsmeet wrote: »

If you have no money to live on and your entitled to jsa from the day you became unemployed this will be back dated. Apply now for the benefit as you don't have to be on JSA to get it just a low income.

Is that really the case? I was under the impression that they will only back date it to the date you first contacted them. Also, the person I spoke to at the JobCentre said that the council will require proof of income/benefits and advised we wait until our claim has gone through because at the moment we have no proof.

Re: food - we already menu plan, and shop at Aldi

What is TPFT?

At the moment, it's not really an option to just stop paying things.

tigger23

Jvic28 wrote: »

Just to warn you they will chase you if you stop paying your gym membership. Eventually debt collectors will be after you for it and you'll end up paying for a gym membership you don't have.

The same for your phone. If you stop paying your contract, debt collectors will chase you for it and you'll end up paying for a contract you have no use of.

Just get your benefit claims in ASAP and get looking for work. I'm sure it'll all work out.

That's why it's not really an option for us to not pay things. It would be helpful if we could come to some sort of arrangement with them, like we have with the mortgage, but I doubt such finance companies would be so understanding.

Jvic28

No, Gyms Membership tends to be a nightmare to get out off even after your contract is up so I doubt they would be willing to come to arrangements but it can't hurt to try. Same with your phone. Try and cross your fingers.