Finally have potential SOA would appreciate opinions!!!

strimmerman

Right I have done this much so far......it still has to be refined in as much as we have complete 2 of them one for me and 1 for OH.....but thought I would put it all on 1 to start with and then worry about dividing it up afterwards once I have some opinions. It is in deficit currently.....so would appreciate any suggestions to even it out to 0 preferably lol. You will find notes by the side of everything and it is an SOA to cover 2 adults and 4 kids aged 16,11,10 & 7. Hope that and the notes will tell you all you need to know to look it over for me. The prob I have just thought of might be this disinclusion of the CB in the calculation.......which would leave us with £233 in deficit.....I can make the rent be whatever I want it to be as it is FIL's house and I have put a rather unrealistic low rental charge for the area we live in for the type of house....but had to do that to make it balance before I then realised that the CB might screw it all up.....lol...oh the trials and tribulations. I was going to include the bithday presents section but know it is hit and miss as to whether they will be allowed so just couldn't face having to try and keep rejigging things again and again. Am I right in thinking that if you all agreed this kind of looked OK that the OR may well look at things and go "well your electric is high but clothing low...so lets up one and lower the other?" Just to make it clear this is not an SOA to petition the BR this is for meeting with OR on Weds...we were made bankrupt so have never completed any type of SOA up to this point.

Many thanks

<===== Copy and paste EVERYTHING below this line into your MSE post =====>


Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 502
Partners monthly income after tax....... 475
Benefits................................ 1129 (WFTC & CB)
Other income............................ 250(my Dad lives with us and apparently according to NDL could be classed as a dependant as we care for him...however they did say that although an OR could not force him to "make a contribtuion to the household" it might kind of be expected so I have stuck him in at this figure...again this can be made to suit)
Total monthly income.................... 2356

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 550 (this amount if necessary can be varied for the type of house we live in as the actual going rate would be rent of £700-750... i just want to clarify that this isn't a made up rent we do pay rent but equal to the mortgage payment....so there is a bit of room for manovure here)
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 100 (this is not an over estimation this is actually the amount we are currently putting into our meter over a month)
Gas..................................... 0
Oil..................................... 112 (again actual amount of DD paid each month....we have to use excessive heating due to my Dad and his "coldness")
Water rates............................. 45
Telephone (land line)................... 40 (I am hoping this will be allowed and am in the process of trying to change this to a package deal that includes broadband...which I do need for work but can't face a fight over proving I need it so hoping that I can sort of get away with including it here,also although I havent done much recently I do sometimes do jobs that require a lot of calls during the daytime and was on one of those all inclusive plans as it was the cheapest way to do it.....could I say that or would I have to prove I have done that job recently?)
Mobile phone............................ 70 (this is supposed to include mobiles for 2 adults and 3 kids...in reality the adult ones cost that they are contract and not in arrears so no way out of the contracts - was hoping that I would be able to justify this amount as 3 kids have mobiles too but we will fund some other way...nice nanny or such like)
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 650
Clothing................................ 80
Petrol/diesel........................... 300 (really should be more but figures won't add up if I increase it)
Road tax................................ 33
Car Insurance........................... 40(thats for 2 vehicles)
Car maintenance (including MOT)......... 60 (thats for 2 vehicles)
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 80 (clubs trips etc)
Medical (prescriptions, dentist etc).... 40 (free prescriptions obviously...one of us wears glasses and well the other might suddenly have to....OH also has had denplan for years before we would have got WFTC but haven't included it as didn't know if that would be considered taking the mickey and it was screwing my figures lol)
Pet insurance/vet bills................. 10 (have a dog hamster and fish....no insurance on dog but hoped it would be allowed)
Buildings insurance..................... 20
Contents insurance...................... 0
Life assurance ......................... 5 (this is really a dry cleaning allowance for my work gear - forgot to add a catagory sorry)
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 40
Entertainment........................... 0
Holiday................................. 80 (3 of the kids go away with a club they belong to....it is a really good value holiday...camping all food and entertainment included for a week....we and the other child could go to0...cost is £155 per person regardless of age - have allowed £300 for travel and spending for 6 people for a week....don't know it you might think thats too high but was the only thing I had to base it on...here's hoping lol)
Emergency fund.......................... 0
Total monthly expenses.................. 2367

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

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 2,356
Expenses (including secured debts)....... 2,367
Available for debt repayments........... -11
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ -11

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -0
Net Assets.............................. 0

Dunpayin

Morning SM

Wow, that's a busy lookingh SOA! I'm a bit of a newbie to help with it, but someone else will be along soon. What am I doing up this early on a Saturday?!?

chelseabun_3

Morning SM!

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 550 (this amount if necessary can be varied for the type of house we live in as the actual going rate would be rent of £700-750... i just want to clarify that this isn't a made up rent we do pay rent but equal to the mortgage payment....so there is a bit of room for manovure here)
Management charge (leasehold property).. 0
Council tax............................. 0 Why don't you pay this? Is it included in the rent?
Electricity............................. 100 (this is not an over estimation this is actually the amount we are currently putting into our meter over a month)
Gas..................................... 0
Oil..................................... 112 (again actual amount of DD paid each month....we have to use excessive heating due to my Dad and his "coldness")
Water rates............................. 45
Telephone (land line)................... 40 (I am hoping this will be allowed and am in the process of trying to change this to a package deal that includes broadband...which I do need for work but can't face a fight over proving I need it so hoping that I can sort of get away with including it here,also although I havent done much recently I do sometimes do jobs that require a lot of calls during the daytime and was on one of those all inclusive plans as it was the cheapest way to do it.....could I say that or would I have to prove I have done that job recently?) You're allowed up to 60, but that includes mobiles I think
Mobile phone............................ 70 (this is supposed to include mobiles for 2 adults and 3 kids...in reality the adult ones cost that they are contract and not in arrears so no way out of the contracts - was hoping that I would be able to justify this amount as 3 kids have mobiles too but we will fund some other way...nice nanny or such like) They wont allow this much - nannies are good aren't they!
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 650
Clothing................................ 80
Petrol/diesel........................... 300 (really should be more but figures won't add up if I increase it)
Road tax................................ 33
Car Insurance........................... 40(thats for 2 vehicles)
Car maintenance (including MOT)......... 60 (thats for 2 vehicles)
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 80 (clubs trips etc)
Medical (prescriptions, dentist etc).... 40 (free prescriptions obviously...one of us wears glasses and well the other might suddenly have to....OH also has had denplan for years before we would have got WFTC but haven't included it as didn't know if that would be considered taking the mickey and it was screwing my figures lol)
Pet insurance/vet bills................. 10 (have a dog hamster and fish....no insurance on dog but hoped it would be allowed) You still need to allow for vet bills so this should be fine. I don't think they check.
Buildings insurance..................... 20
Contents insurance...................... 0
Life assurance ......................... 5 (this is really a dry cleaning allowance for my work gear - forgot to add a catagory sorry)
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 40 - put a bit here in case they reduce your holiday. They can always say no!
Haircuts................................ 40
Entertainment........................... 0
Holiday................................. 80 (3 of the kids go away with a club they belong to....it is a really good value holiday...camping all food and entertainment included for a week....we and the other child could go to0...cost is £155 per person regardless of age - have allowed £300 for travel and spending for 6 people for a week....don't know it you might think thats too high but was the only thing I had to base it on...here's hoping lol)
Emergency fund.......................... 0
Total monthly expenses.................. 2367

HTH a bit! Generally it looks good, and sensible. I don't really understand the bit about the rent - is this the figure you actually pay? You'll need to provide evidence eg tenancy agreement that shows the figure. Otherwise it looks fine to me! CBx;)

Sunk

Up your food....it's about 185.00 per month each adult, not sure kids/teens, but up that anyway as 2adults alone comes to 370.00, so you have 280.00 for 4kids per month....70.00 each per month?
Reduce mobile, put down for one.
Landline at 50.00
Reduce what could possibly be reduced by OR ie holidays/clubs & up essentials like food/clothing.

Sunk

looking at BAAB posts yesterday it's 187.00 per adult, so not far out, maybe pm him to ask allowance for your kids ages.

http://forums.moneysavingexpert.com/showthread.html?t=1303611

LilyBart

Just wiped previous. Sorry, sorry, sorry! Idiotic advice, not clocking that this is for OR interview as opposed to court forms.
£5 is very low for dry-cleaning, unless your work outfit is a G-string!

strimmerman

Thanks here is an amended one with notes from questions

I really need to know if the OR will ask to see bills.....for instance our mobile accounts...does he have complete access to know all about them....if he does he will know that the amount I have put down is not correct and true and that I have put it down as I know he won't allow anymore. NDL also told me that we may actually lose the contracts we have anyway as they are a credit agreement.....what are your experinces of that?

Most of our dealings are in cash as we have no debit cards but borrow a card to in order to pay something like the mobile bill will he know that from the access he has to that account? Also with the rent we pay FIL in cash.....how is he going to varify that?

What happens if we do end up in deficit with the SOA....I mean we are bankrupt now so no1 can do anything about what my incomings and outgoings are.......but what in the real world is he going to say to us about a deficit?

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 502
Partners monthly income after tax....... 475
Benefits................................ 1129
Other income............................ 250
Total monthly income.................... 2356

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 550 what we pay is according to the mortagage rate in any given month...was on fixed rate but that ended last month and as FIL has not got a letter yet we don't actually know how much the new payment will be.....tenancy agreement...um technically we dont really have a current valid one...they are going to ask to see it are they? Well that can be sorted quickly
Management charge (leasehold property).. 0
Council tax............................. 0 as I thought the SOA had to be current to what we pay right now I have not included this. The reason for the BR is due to C Tax petitioning for BR so this years will be included won't it as we owe it as a debt......so at this particular moment and until March we won't be paying it.
Electricity............................. 100
Gas..................................... 0
Oil..................................... 112
Water rates............................. 45
Telephone (land line)................... 30 this and below amended to £30 each is that OK?
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 650
Clothing................................ 80
Petrol/diesel........................... 300
Road tax................................ 33
Car Insurance........................... 40
Car maintenance (including MOT)......... 60
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 80
Medical (prescriptions, dentist etc).... 40
Pet insurance/vet bills................. 10
Buildings insurance..................... 20
Contents insurance...................... 0
Life assurance ......................... 5
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40
Haircuts................................ 40
Entertainment........................... 0
Holiday................................. 80
Emergency fund.......................... 0
Total monthly expenses.................. 2357

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

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 2,356
Expenses (including secured debts)....... 2,357
Available for debt repayments........... -1
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ -1

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -0
Net Assets.............................. 0

strimmerman

Dry cleaning....v rare I would use it and would only be for odd item for odd days work....so didnt think I could up it and have no reciepts for it

Sunk

Any extra on your mobiles will come out of surplus.

LilyBart

It's unlikely that they'll want proof of your mobile costs. If so, just show them the bills. How you pay it is irrelevant. Re paying your father-in-law in cash, if that's what you do, that's what you do. Do the withdrawals from your bank accounts tally with the dates you hand the money over? If so, that's the best (only!) proof you have. If you're really anxious about a deficit, trim some of the figures for the stuff that is discretionary - ie presents/birthdays. Regarding the ongoing mobile contracts, I don't know about the strict legality of this, but as I had no arrears, I never mentioned BR to my provider, nor did they to me, so it's business as usual. Once you've got all this paperwork out of the way, have a look at pre-paid credit cards for stuff that is difficult to pay by other means. I pay my mobile on-line from my cashminder account. No problems so far.

One other thought, the numbers of members on this site are far lower than the number of personal bankruptcies each year. Which makes me think that a fair proportion of the SOAs the average OR will see will be less thoroughly prepared than yours is. The better prepared you are, the happier your OR will be. SOA looks pretty good to me, honestly, so tinker away to your heart's content but do so knowing that it's going to be tinkered with again by the OR.

strimmerman

Yes sunk I appreciate that but as you can see there is no surplus available on those figures....so what would happen then when it is clear that we have no surplus and therefore couldn't pay for the excess amount of the mobiles with the non exsistant surplus.

The only money that actually goes into out only account or did go into it was WFTC and CB.....my other half gets paid in cash...he is self employed and has therefore has the ability to have that happen.....so withdrawls from the account are the only thing that appears...in cash obviously.... and FIL is paid in cash.......I am the only one that has cheques go into that account and it is v irregular. There is kind of nothing to tally anything to sadly

Am going to try the Co-op today and see if that is OK...have issues over ID for opening bank accounts...no passport lost driv lic and 1 that is in worng addy...someone here said Co-op do checks electronically so gunna give that a whirl....and once Id sorted will try pre pay cards...thanks for that.

I don't feel prepared at all.....you see because the BR was instigated by LA we have not had to do any of this and I have kind of got confused between the people on here who are doing an SOA for a petition to make themselves bankrupt....which I gather means that you have to be able to support yourself in order to have the BR order made and myself who is already bankrupt and if I am therefore allowed to seem to have a deficit....I mean does that mean the OR could go "well it isn't even feasiable for you to be BR....and then try to get the BR order reversed on those grounds.......I mean that is prob not even posssible but I am really confused.....or does he just go "oh well you have a £40 deficit so you will just have to eek out the shopping to cover things won't you"....kind of comment.