Here Is Our Soa...ready For Bankruptcy ANY ADVICE

LOONEY_HOUSE

HELLO ALL WE ARE IN A BIT OF A SITUATION
WE WERE ADVISED IN 2006 TO GO BANKRUPT BY CAB.WE NEVER DID IT AND WISH WE DID,MANY YEARS AGO 11 WE GOT OURSELVES INTO DEBT AND BASICALLY HAVE ALWAYS BEEN IN THE SAME SITUATION ROBBING PETER TO PAY PAUL ETC.WE HAVE 3 CHILDREN AGED 10-8-6.WE ARE ALSO BOTH SELFEMPLOYED MY WAGE GOES UP AND DOWN AS A HAIRDRESSER VARIES FROM WEEK TO WEEK AND IS ALL CASHAPART FROM THE ODD CHEQUE.WE HAVE AN ACCOUNTANT TOO.

Monthly Income Details
Monthly income after tax...........2080.....
Partners monthly income after tax....... 800
Benefits............175.60....................
Other income................-............
Total monthly income.................3055.60...

Monthly Expense Details
Mortgage................................ 1046.33
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 190.00 INCLUDING ARREARS
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 33
Telephone (land line)................... 35
Mobile phone............................ 65 FOR BOTH
TV Licence.............................. 11.29
Satellite/Cable TV...................... 40.00
Internet Services....................... 15.00
Groceries etc. ......................... 500.00
Clothing................................
Petrol/diesel........................... 400
Road tax................................ 30
Car Insurance........................... 70
Car maintenance (including MOT).........
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 18.04
Buildings insurance..................... 15.00
Contents insurance...................... 17.00
Life assurance ......................... 28.33
Other insurance......................... 11.66 PUBLIC LIABILITY
Presents (birthday, christmas etc)...... 30.00
Haircuts................................ 0
Entertainment........................... 100
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses..........2755.65........
Cash.................................... 0
House value (Gross)..................... 155.000
Shares and bonds........................ 0
Car(s).................................. 5000 CAR AND VAN
Other assets............................ 0
Total Assets............................ 160.000

UNSECURED DEBTS
Description.LOANS,CATALOGUES AND STORECARDS..............Debt..45000....Monthly...1000
Total unsecured debts..........45000..................

Total monthly income.................... 3055.60
Expenses (including secured debts)....... 3755.65
Available for debt repayments........... 0
Monthly UNsecured debt repayments.......
Surplus(deficit if negative)............ -700.05

we have now moved out as advised by a company(no names mentioned)we were paying a fee of 700 to help us but has been a huge let down so we have decided to apply for bankruptcy ourselves.
my children do cubs,football,simming etc do they allow this
now we have moved out here is what we pay now so will we have an ipa or ipo.
any advise needed!desperate now as missed payment on my ccj on 25th

rent 725
water meter 45
gas/electric 90
phone 25
internet for kids 20
btvision 20
car ins 45 due to area
van ins 47 due to area
buildings ins 19.34 for mortgaged house
contents 29.54
tv licence 11.29
food 500
public liability 11.66
ni 23.00
breakdown 12
petrol 500 for both due to live further away from schools and my work.
mobile phones 60 for 2
football,cubs,swimming 80
car maintence 50.
tools 25
adding the above up looks like we got left approx 717,
IS THERE ANYTHING ELSE WE NEED TO ADD OR MARK UP OR DOWN PLEASE HELP.

MANYTHANKS

[

LOONEY_HOUSE

Hi All
I Also Still Have Keys To My House Which We Own At Mo And Are In 3 Months Arrears 4 This Month!shall I Wait And Give The Keys To Or.am Also Worried About A Shortfall In House And We Have To Pay It Back Or Will That Get Written Off In Bankruptcy

Will Or Stop Us From Working As I Cannot Really Prove My Wage From Week To Week

What Assets Should I Tell Or And To Waht Value

Any Ideas On How Long To Be Declared Bankrupt

robpw2

LOONEY_HOUSE wrote: »

HELLO ALL WE ARE IN A BIT OF A SITUATION
WE WERE ADVISED IN 2006 TO GO BANKRUPT BY CAB.WE NEVER DID IT AND WISH WE DID,MANY YEARS AGO 11 WE GOT OURSELVES INTO DEBT AND BASICALLY HAVE ALWAYS BEEN IN THE SAME SITUATION ROBBING PETER TO PAY PAUL ETC.WE HAVE 3 CHILDREN AGED 10-8-6.WE ARE ALSO BOTH SELFEMPLOYED MY WAGE GOES UP AND DOWN AS A HAIRDRESSER VARIES FROM WEEK TO WEEK AND IS ALL CASHAPART FROM THE ODD CHEQUE.WE HAVE AN ACCOUNTANT TOO.

Monthly Income Details
Monthly income after tax...........2080.....
Partners monthly income after tax....... 800
Benefits............175.60....................
Other income................-............
Total monthly income.................3055.60...

Monthly Expense Details
Mortgage................................ 1046.33
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 190.00 INCLUDING ARREARS You should clear this as soon as , you dont want to be prosecuted and it will not be covered by your bankruptcy
Electricity............................. 50 is this an exact amount?
Gas..................................... 50 is this an exact amount?
Oil..................................... 0
Water rates............................. 33
Telephone (land line)................... 35
Mobile phone............................ 65 FOR BOTH
TV Licence.............................. 11.29
Satellite/Cable TV...................... 40.00 (can you cancel this there would be an extra £40 a month not really a nesscity you can get a freeview box )
Internet Services....................... 15.00
Groceries etc. ......................... 500.00( what the ..? How are you spending£500 a month on groceries got to the os board , seek coupons etc you need to reduce this amount by at least half)

Clothing................................
Petrol/diesel........................... 400 ( can you reduce this amount, cut down unnesscary journeys , drive slower,its a tad exxessive)
Road tax................................ 30
Car Insurance........................... 70 ( check out compare websits to see if you can get this cheaper)
Car maintenance (including MOT).........
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 18.04
Buildings insurance..................... 15.00
Contents insurance...................... 17.00
Life assurance ......................... 28.33
Other insurance......................... 11.66 PUBLIC LIABILITY
Presents (birthday, christmas etc)...... 30.00
Haircuts................................ 0
Entertainment........................... 100 ( again you need to look at cutting this spending down till you can affor entertainment)
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses..........2755.65........
Cash.................................... 0
House value (Gross)..................... 155.000
Shares and bonds........................ 0
Car(s).................................. 5000 CAR AND VAN
Other assets............................ 0
Total Assets............................ 160.000

UNSECURED DEBTS
Description.LOANS,CATALOGUES AND STORECARDS..............Debt..45000....Monthly...1000
Total unsecured debts..........45000..................

Total monthly income.................... 3055.60
Expenses (including secured debts)....... 3755.65
Available for debt repayments........... 0
Monthly UNsecured debt repayments.......
Surplus(deficit if negative)............ -700.05

we have now moved out as advised by a company(no names mentioned)we were paying a fee of 700 to help us but has been a huge let down so we have decided to apply for bankruptcy ourselves.
my children do cubs,football,simming etc do they allow this
now we have moved out here is what we pay now so will we have an ipa or ipo.
any advise needed!desperate now as missed payment on my ccj on 25th

rent 725
water meter 45
gas/electric 90
phone 25
internet for kids 20
btvision 20
car ins 45 due to area
van ins 47 due to area
buildings ins 19.34 for mortgaged house
contents 29.54
tv licence 11.29
food 500
public liability 11.66
ni 23.00
breakdown 12
petrol 500 for both due to live further away from schools and my work.
mobile phones 60 for 2
football,cubs,swimming 80
car maintence 50.
tools 25
adding the above up looks like we got left approx 717,
IS THERE ANYTHING ELSE WE NEED TO ADD OR MARK UP OR DOWN PLEASE HELP.

MANYTHANKS KELLY

[

you seem to be paying excessive amounts on food ( look at the os board , Plan meals etc cut down) and petrol even for your journeys, and entertainment is excessive

look at compare websites makes sure your getting the cheapes for your insurance etc , You need to look at cutting out the luxiries and focus on paying the bills ,
if your not living in your house? is anyone ? can you sell it , rent it etc
you seem to have £299 a month spare i assume this is paying of your debts?
If you were to half both you food and shopping bills and to remove your entertainment cost that would be £600 a month extra

LOONEY_HOUSE

Thanks For That But We All Moved Out Now And Settled In Rented House.we Also Forgot Clothes Per Month How Much Do They Allow For That!
Also 500 Is Also For Laundry And Cleaning Products Etc.also Dog Food 2 Adults And 3 Children There Meals And Pack Up Etc

LOONEY_HOUSE

Also Petrol Is For A Large Van And Family Car

robpw2

LOONEY_HOUSE wrote: »

Thanks For That But We All Moved Out Now And Settled In Rented House.we Also Forgot Clothes Per Month How Much Do They Allow For That!
Also 500 Is Also For Laundry And Cleaning Products Etc.also Dog Food 2 Adults And 3 Children There Meals And Pack Up Etc

so why are you payiung £1000 to a mortagage if your not living there- ...
They will allow for clothes.

Im sorry but £ 500 for food and laundry products, and food for dogs is way way too much .
i bought 20 washing machine capsules for £3.00 thats 20 washes.

try shopping around, aldi, lidl, homebargains,poundland , 99p stores. tesco , asda, morrisons

I wish i could come with you and show you how cheap it can be if you shop around and are sensible ....

robpw2

LOONEY_HOUSE wrote: »

Also Petrol Is For A Large Van And Family Car

Right but does that make £400 a month for petrol justifiable .. probably not

Again you cannot afford to be paying this much petrol a month so you need to look at cutting it down .

You should see about car sharing, leave the car at home unless its defiantly needed

try walking ,

if the van is for work use then i can understand that would be a nesscity.

robpw2

LOONEY_HOUSE wrote: »

rent 725
water meter 45
gas/electric 90
phone 25
internet for kids 20
btvision 20
car ins 45 due to area
van ins 47 due to area
buildings ins 19.34 for mortgaged house
contents 29.54
tv licence 11.29
food 500
public liability 11.66
ni 23.00
breakdown 12
petrol 500 for both due to live further away from schools and my work.
mobile phones 60 for 2
football,cubs,swimming 80
car maintence 50.
tools 25
adding the above up looks like we got left approx 717,
IS THERE ANYTHING ELSE WE NEED TO ADD OR MARK UP OR DOWN PLEASE HELP.

MANYTHANKS

[

Is this your soa or is the one above the correct one , you have confused me ..

LOONEY_HOUSE

The Top Soa Is What E Were Paying Before We Moved Out .nowq We Going Br The Other Amounts Are At Bottom Which Is What We Paying Now,i Pay No Debts Or Mortgage As Been Advised Not Too!
I Am A Mobile Hairdresser So Need That To Get To My Places Of Work E.g House To House.
My Husband Is Also Self Employed Floor Layer So He Needs His Van To Get To Work With His Flooring On...and He Can Travel Upto 65+miles A Day ,so Therefore Cannot Car Share!
Have You Seen The Price Of Fuel Lately
And Also I Have 3 Boys Who Need There Clothes Washed On A Daily Basis And Football Kits(very Muddy) So I Am Constantly Wqashing And Trust Me I Go To Aldi Already !
Sorry To Sound Blunt But If I Could Reduce Petrol I Would But We Both Need To Travel Or Wqe Dont Get Paid.

robpw2

i wouldnt say you were being blunt but you seem to have so many excuses, and it could explain why you are in the mess your in .
i have seen the price of fuel , my partner drives a diesel,
but fuel is cheaper now than what it was a month ago, plus places like tesco are offering 5p of per litre for every £50 spent in groceries so that will get you unleaded for about 85p per litre ,
As you spend more than 100 a week on grocerys

MissThrifty_2

Hi Looney House,

If you're looking to trim costs, here are my two pennies - although I must warn you, I'm a frugal hardliner! I agree with robpw2 that your groceries bill could be cut.
The BT Vision can go.
Car maintenance at £50 pm? What does that go on? Can it be cut?
I'd cut clothes and entertainment to £0 too.

As for the rest, it looks like you have got good deals on the utilities and phones.