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For a first attempt SOA

This is for 2 adults and 3 children 10, 7 and 11 months have i over estimated under estimated any pointers would be great and i will be using my sis car as mine is on HP and will be taken
Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 485
Partners monthly income after tax....... 1180
Benefits................................ 585
Other income............................ 0
Total monthly income.................... 2250


Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 525
Management charge (leasehold property).. 0
Council tax............................. 101
Electricity............................. 55
Gas..................................... 55
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 20
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 480
Clothing................................ 100
Petrol/diesel........................... 80
Road tax................................ 10
Car Insurance........................... 35
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 15
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 14
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 35
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 0
Total monthly expenses.................. 1667


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.................... 2,250
Expenses (including secured debts)....... 1,667
Available for debt repayments........... 583
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ 583


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


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


======== 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.
«1

Comments

  • Morning Sticky!
    Monthly Income Details
    Monthly income after tax................ 485
    Partners monthly income after tax....... 1180 Is this their actual wage? You only need to put their contribution to the household budget on an SOA. Change the title to 'partner's contribution'.
    Benefits................................ 585
    Other income............................ 0
    Total monthly income.................... 2250


    Monthly Expense Details
    Mortgage................................ 0
    Secured loan repayments................. 0
    Rent.................................... 525
    Management charge (leasehold property).. 0
    Council tax............................. 101
    Electricity............................. 55
    Gas..................................... 55
    Oil..................................... 0
    Water rates............................. 30
    Telephone (land line)................... 20 50
    Mobile phone............................ 30 20
    TV Licence.............................. 12
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 480 500 - try it!
    Clothing................................ 100
    Petrol/diesel........................... 80
    Road tax................................ 10
    Car Insurance........................... 35
    Car maintenance (including MOT)......... 20 35
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 15
    Medical (prescriptions, dentist etc).... 0 30
    Pet insurance/vet bills................. 0 20 if you have any pets
    Buildings insurance..................... 0
    Contents insurance...................... 10
    Life assurance ......................... 14
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0 30 - try it!
    Haircuts................................ 35
    Entertainment........................... 0
    Holiday................................. 40 50 - there are a lot of you!
    Emergency fund.......................... 0 30 - try it!
    Total monthly expenses.................. 1667


    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 I assume you had some, but have already taken these off?
    Description....................Debt......Monthly.. .APR
    Total unsecured debts..........0.........0.........-


    The main issue is your OH's wage. Are you both going BR, or just you? If just you, then definitely put just their contribution not their whole wage - they have their own bills after all, and the OR isn't allowed to chase them for your debt.

    At the moment, because you've taken off the secured and unsecured credit, it looks like you're solvent, although I know from other threads that you're having your house repossessed. It would be useful to have the monthly totals for the debt payments you've been making, just so you don't get people saying you should be paying a DMP or something! HTH CBx;)
  • We are both going BR i have put on all our debt now:eek:
    Statement of Affairs and Personal Balance Sheet

    Monthly Income Details
    Monthly income after tax................ 485
    Partners monthly income after tax....... 1180
    Benefits................................ 585
    Other income............................ 0
    Total monthly income.................... 2250


    Monthly Expense Details
    Mortgage................................ 0
    Secured loan repayments................. 0
    Rent.................................... 525
    Management charge (leasehold property).. 0
    Council tax............................. 101
    Electricity............................. 55
    Gas..................................... 55
    Oil..................................... 0
    Water rates............................. 30
    Telephone (land line)................... 50
    Mobile phone............................ 20
    TV Licence.............................. 12
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 500
    Clothing................................ 100
    Petrol/diesel........................... 80
    Road tax................................ 10
    Car Insurance........................... 35
    Car maintenance (including MOT)......... 35
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 15
    Medical (prescriptions, dentist etc).... 30
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 10
    Life assurance ......................... 14
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 30
    Haircuts................................ 35
    Entertainment........................... 0
    Holiday................................. 50
    Emergency fund.......................... 30
    Total monthly expenses.................. 1822


    Assets
    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 4500
    Other assets............................ 0
    Total Assets............................ 4500


    No Secured Debt

    Unsecured Debts
    Description....................Debt......Monthly...APR
    credit cards (mine)............25000.....660.......0
    credit cards (OH)..............19000.....520.......0
    loans Mine.....................14000.....400.......0
    HP car.........................6000......115.......0
    loans OH.......................13000.....300.......0
    Total unsecured debts..........77000.....1995......-


    Monthly Budget Summary
    Total monthly income.................... 2,250
    Expenses (including secured debts)....... 1,822
    Available for debt repayments........... 428
    Monthly UNsecured debt repayments....... 1,995
    Surplus(deficit if negative)............ -1,567


    Personal Balance Sheet Summary
    Total assets (things you own)........... 4,500
    Total Secured debt...................... -0
    Total Unsecured debt.................... -77,000
    Net Assets.............................. -72,500


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


    ======== 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.
  • Sunk
    Sunk Posts: 423 Forumite
    I would up the fuel 100.00, any school dinners?...other child related expenses, not sure of the allowance each child someone will come along.
    I would even put more more groceries....187.00 per adultx2=374.00 so that leaves=126.00 for 3kiddies per month=42.00 each per month? (not even a month 4weeks)
    Is 126.00 ok to feed 3 on? taking into account pack lunch/school dinners.
    Mine must be pigs!.....lol
    I put 780.00 on my SOA for a family of 5.
    BR 08/05/2008
    ED 29/10/2008
  • Sunk
    Sunk Posts: 423 Forumite
    I hope my sums are right I'm completely braindead this morning......
    BR 08/05/2008
    ED 29/10/2008
  • LilyBart
    LilyBart Posts: 1,171 Forumite
    Union dues/membership of other professional body?
    Dry cleaning?
  • Sunk wrote: »
    I would up the fuel 100.00, any school dinners?...other child related expenses, not sure of the allowance each child someone will come along.
    I would even put more more groceries....187.00 per adultx2=374.00 so that leaves=126.00 for 3kiddies per month=42.00 each per month? (not even a month 4weeks)
    Is 126.00 ok to feed 3 on? taking into account pack lunch/school dinners.
    Mine must be pigs!.....lol
    I put 780.00 on my SOA for a family of 5.

    Are you proud to have dealt with your debts? - Hypocrites like you are comical:rolleyes:

    There are many on here that are actually proud to be dealing with their debts - some feeding a family of four on less than £100 a month, but quotes like that show you to be a nothing more than a thief who, even on bankruptcy, refuses to pay what they owe by hiding disposable income!
  • Sunk
    Sunk Posts: 423 Forumite
    Renovatio wrote: »
    Are you proud to have dealt with your debts? - Hypocrites like you are comical:rolleyes:

    There are many on here that are actually proud to be dealing with their debts - some feeding a family of four on less than £100 a month, but quotes like that show you to be a nothing more than a thief who, even on bankruptcy, refuses to pay what they owe by hiding disposable income!


    Well good for them!
    Let's get one thing straight shall we I am not hiding behind disposable income, everything was put down & above board.
    Also I might add I have not got an IPA so the OR must have agreed with my overall figures, or are you right & the OR is wrong?
    Government figures state (which the OR quotes) that an adult can lives on 187.00 per calender month.
    There are 4adults & 1child in my household.....I'll do the sums for you:rolleyes:
    187.00 x 4=£748 + child about £30.00 which incidentally should be more.
    Lastly mainly my debt was from a re-possession back in the early 90's check out the interest rates then, they are no where as low as now......could you afford that? I DON'T THINK SO!!
    So my debt was the shortfall.
    Why should I pay for a house crash that the government could foresee, JUST LIKE NOW!

    Stick your comments where the sun don't shine.
    BR 08/05/2008
    ED 29/10/2008
  • Sunk...we shall ignore some other people on this thread and sing trolling songs lol.

    I think what you meant was that some people may try to clip their shopping etc to the bone in order to make an SOA look like they think the OR will want it to...and in reality if they actually come to have to survive on that then it may well be a struggle. I would imagine that even with an SOA we all still rob peter to pay paul....in so much as one month there maybe no car maintenance and a child may have an away school trip that is more than allowed for in your SOA......and vice versa....it is still am juggling act isn't it......I have yet to find this out lol.
  • Sunk
    Sunk Posts: 423 Forumite
    Yep that's right m8.
    On my SOA I didn't put child allowances ie school clubs etc
    I did not put holiday/christmas birthday anything like that, no pet insurance, no prescriptions but my groceries were higher than most, although still exceptable as in government guidelines.
    Some trolls come on here & think they know the ins & outs of income & outgoings etc & haven't even a clue who you owe & what for.


    As you say it swings in roundabouts so maybe the OR juggled my figures & I never knew.
    BR 08/05/2008
    ED 29/10/2008
  • And as you quite rightly say...at the end of the day it is down to each persons OR to accept it or not...they are told what is acceptable and what isn't so who are trolls or us to argue with what figures an OR is told to work to......we are no-one is the answer we are answerable to the OR while in BR or a IPO period....
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