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New SOA - with more details

stevedon_2
Posts: 8 Forumite
Hi all, posted a SOA yesterday and realised it was wrong. Will try to explain our rather complex situation. My wife and I have 2 kids who live with us full time (age 2 and age 4). My wife has two kids from first marriage, aged 9 and aged 5 who live with us 5 days a week, and 3 days with their dad (on rotating shifts). I have 2 kids from my first marriage who stay 1 night a week and pay £193 child maintenance for them. The £238 under income is the child benefit we expect to receive from January (with the new increase).
My work will be starting childcare vouchers as of Jan but only £150 or so is registered care at a nursery so will not have much impact on the take home pay.
Do my figures look acceptable ? I've not included internet/sky tv even though we have them.
Moving into the rented accommodation in Jan, will hopefully have voluntary repo with Northern Rock then also.
Monthly income after tax................ 1984
Partners monthly income after tax....... 1818
Benefits................................ 238
Other income............................ 0
Total monthly income.................... 4040
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 1195
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 75
Gas..................................... 75
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 30
Mobile phone............................ 40
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 600
Clothing................................ 150
Petrol/diesel........................... 120
Road tax................................ 15
Car Insurance........................... 19
Car maintenance (including MOT)......... 25
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 800
Other child related expenses............ 125
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 29
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 50
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Kids Activities (£5 per child pw x4).... 80
Child Maintenance (2 children).......... 193
Total monthly expenses.................. 3813
Monthly Budget Summary[/b]
Total monthly income.................... 4,040
Expenses (including secured debts)...... 3,813
Available for debt repayments........... 227
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ 227
My work will be starting childcare vouchers as of Jan but only £150 or so is registered care at a nursery so will not have much impact on the take home pay.
Do my figures look acceptable ? I've not included internet/sky tv even though we have them.
Moving into the rented accommodation in Jan, will hopefully have voluntary repo with Northern Rock then also.
Monthly income after tax................ 1984
Partners monthly income after tax....... 1818
Benefits................................ 238
Other income............................ 0
Total monthly income.................... 4040
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 1195
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 75
Gas..................................... 75
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 30
Mobile phone............................ 40
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 600
Clothing................................ 150
Petrol/diesel........................... 120
Road tax................................ 15
Car Insurance........................... 19
Car maintenance (including MOT)......... 25
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 800
Other child related expenses............ 125
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 29
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 50
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Kids Activities (£5 per child pw x4).... 80
Child Maintenance (2 children).......... 193
Total monthly expenses.................. 3813
Monthly Budget Summary[/b]
Total monthly income.................... 4,040
Expenses (including secured debts)...... 3,813
Available for debt repayments........... 227
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ 227
0
Comments
-
You've more money coming in than going out, what are the level of debt repayments?"An arrogant and self-righteous Guardian reading tvv@t".
!!!!!! is all that about?0 -
hi , is it just you going BR or is it both of yous.?
if its just you ,then you can lower your partners contribution.
wow your rent is high
pink0 -
Hi all, posted a SOA yesterday and realised it was wrong. Will try to explain our rather complex situation. My wife and I have 2 kids who live with us full time (age 2 and age 4). My wife has two kids from first marriage, aged 9 and aged 5 who live with us 5 days a week, and 3 days with their dad (on rotating shifts). I have 2 kids from my first marriage who stay 1 night a week and pay £193 child maintenance for them. The £238 under income is the child benefit we expect to receive from January (with the new increase).
My work will be starting childcare vouchers as of Jan but only £150 or so is registered care at a nursery so will not have much impact on the take home pay.
Do my figures look acceptable ? I've not included internet/sky tv even though we have them.
Moving into the rented accommodation in Jan, will hopefully have voluntary repo with Northern Rock then also.
Monthly income after tax................ 1984
Partners monthly income after tax....... 1818
Benefits................................ 238
Other income............................ 0
Total monthly income.................... 4040
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 1195
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 75
Gas..................................... 75
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 30
Mobile phone............................ 40
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 600 try £700
Clothing................................ 150
Petrol/diesel........................... 120
Road tax................................ 15
Car Insurance........................... 19
Car maintenance (including MOT)......... 25
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 800
Other child related expenses............ 125
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 29
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 50 £10 per adult £5 per child
Entertainment........................... 0
Holiday................................. 0 £60
Emergency fund.......................... 0
Kids Activities (£5 per child pw x4).... 80
Child Maintenance (2 children).......... 193
Total monthly expenses.................. 3813
Monthly Budget Summary[/b]
Total monthly income.................... 4,040
Expenses (including secured debts)...... 3,813
Available for debt repayments........... 227
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ 227
Breakdown cover? Is your car insurance fully comp? Do you have accidental damage with your contents insurance?Namaste DeeDee x0 -
Robin,
It's a bankruptcy SOA and therefore does not include the monthly payments for unsecured credit. After checking Stevedon's figures, the Official Receiver will take a percentage of his surplus.
Stevedon,
I'll leave the fine tuning to the SOA forensics experts.
Good luck
Lily0 -
Hi all, we both went bankrupt in October 2008. I've put the figures as closely as possible. The surplus left over is entirely child benefit. Just trying to make sure that all bases are covered.
Living in Kent, not a lot of 4 bed houses about at the moment in our area, less willing to accept bankrupt tenants.0 -
Sorry, forgot all about breakdown cover, and yes the car if fully comp at £19 !!
Not sure about the accidental damage with the contents insurance.
It's so easy to forget the basics when doing this. On my first SOA we didn't include haircuts, kids activities or the child maintenance.0 -
I would definatly up your groceries with the way food prices are rising.
Good price on the fully comp. and definatly a must when you are bankrupt.
Check out your contents insurance as accidental damage is a god send as I have found out, get it changed if you haven't got it.Namaste DeeDee x0 -
Dry cleaning? (I know, I know...) Might be necessary for work clothing.0
-
We both work in jobs where we have to be presentable so dry cleaning would be a genuine cost. Trying to make sure I'm not including anything I shouldn't and that the figures we're putting forward are within acceptable limits.
I appreciate all the comments, they are a godsend.0 -
lilybart you do crack me up:rotfl: but your always right everyone does forget about dry cleaning.If you want to see the rainbow ,you gotta put up with some rain0
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