tonights the night to get it sorted

completemess

miaoww wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1185
Partners monthly income after tax....... 1100
Benefits................................ 164
Other income............................ 0
Total monthly income.................... 2449
Monthly Expense Details
Mortgage................................ 650
Secured loan repayments................. 650
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 105
Electricity............................. 55
Gas..................................... 50
Oil..................................... 0
Water rates............................. 37.32
Telephone (land line)................... 15
Mobile phone............................ 40
TV Licence.............................. 11.61
Satellite/Cable TV...................... 19.5 (not allowed - has to come from surplus)
Internet Services....................... 10 (put with telephone)
Groceries etc. ......................... 300
Clothing................................ 50
Petrol/diesel........................... 120
Road tax................................ 15
Car Insurance........................... 26.11
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 62.4
Other child related expenses............ 50
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 38.6
Contents insurance...................... 0
Life assurance ......................... 49.85
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2405.39

Assets
Cash.................................... 0
House value (Gross)..................... 110000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 112000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 89000....(650)......0
Secured Debt.................. 77000....(650)......0
Total secured debts........... 166000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
multiple.......................22500.....0.........0
Total unsecured debts..........22500.....0.........-

Monthly Budget Summary
Total monthly income.................... 2,449
Expenses (including secured debts)...... 2,405.39
Available for debt repayments........... 43.61
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 43.61
Personal Balance Sheet Summary
Total assets (things you own)........... 112,000
Total Secured debt...................... -166,000
Total Unsecured debt.................... -22,500
Net Assets.............................. -76,500
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

I'm new to all this but have put a couple of suggestions from what i've picked up from this forum. I've posted my soa today too and have been advised to round payments up or down to the nearest pound so I would do this too. Good luck xx

completemess

Ps you can definitely up groceries to use any other surplus up, £300 for a family of 4 is low x

maxmycardagain

by going BR and keeping the house+secured debt all your losing is £22K in joint unsecured debts, which are outweighed 12:1 by the retained debts and still leaving you £1300 pcm in repayments?

tigerfeet2006

Round all numbers up/down to the nearest ££

miaoww wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1185
Partners monthly income after tax....... 1100
Benefits................................ 164
Other income............................ 0
Total monthly income.................... 2449
Monthly Expense Details
Mortgage................................ 650
Secured loan repayments................. 650
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 105
Electricity............................. 55
Gas..................................... 50
Oil..................................... 0
Water rates............................. 37.32
Telephone (land line)................... 15
Mobile phone............................ 40 This is quite high and may be cut by the OR
TV Licence.............................. 11.61
Satellite/Cable TV...................... 19.5 Not allowed on your SOA but you can still keep it and take out of any surplus.
Internet Services....................... 10 Put under phone.
Groceries etc. ......................... 300 Anything up to £450
Clothing................................ 50You can up to £100
Petrol/diesel........................... 120
Road tax................................ 15
Car Insurance........................... 26.11 Is this fully comp?
Car maintenance (including MOT)......... 10 £20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 62.4
Other child related expenses............ 50 What is this?
Medical (prescriptions, dentist etc).... 0 £10/20 do you wear glasses? Go to the dentist? Have prescriptions?
Pet insurance/vet bills................. 0
Buildings insurance..................... 38.6
Contents insurance...................... 0 You need to get this.
Life assurance ......................... 49.85 The OR may be interested in this and you may have to buy your BI from him.
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40 Some OR's allow and some don't.
Haircuts................................ 0£10 per adult and £5 per child
Entertainment........................... 0
Holiday................................. 0 £40
Emergency fund.......................... 0
Total monthly expenses.................. 2405.39

Assets
Cash.................................... 0
House value (Gross)..................... 110000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 112000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 89000....(650)......0
Secured Debt.................. 77000....(650)......0
Total secured debts........... 166000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
multiple.......................22500.....0.........0
Total unsecured debts..........22500.....0.........-

Monthly Budget Summary
Total monthly income.................... 2,449
Expenses (including secured debts)...... 2,405.39
Available for debt repayments........... 43.61
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 43.61
Personal Balance Sheet Summary
Total assets (things you own)........... 112,000
Total Secured debt...................... -166,000
Total Unsecured debt.................... -22,500
Net Assets.............................. -76,500
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

That should give you some ideas for playing with your figures.

miaoww

other child related expenses - money i give to mother in law for looking after the two kids full time whilst i go to work - would cost a lot more if had to put my daughter into full time nursery
Will play around with things - mobile is hubbys on contract ends may / june i think and a few other things are his also now i know how to work these out will adjust them
thanks for help / suggestions

miaoww

got contents insurance in with buildings

miaoww

"by going BR and keeping the house+secured debt all your losing is £22K in joint unsecured debts, which are outweighed 12:1 by the retained debts and still leaving you £1300 pcm in repayments?"

I know but ive got to do something - prob wont be able to sell the house the condition its in some damp and cosmetic issues and current climate but also we would still have the secured loan anyway apparently, its in negative equity and we couldnt afford another house of the same size etc

miaoww

Hi guys - read somewhere on here that you could barr certain incoming phone calls ie from creditors etc can this be done with sky? getting fed up of screening them all the time

startagain_2

Hi -sent you a pm

miaoww

Hi guys,
got started on the paperwork onlinethis pm was doingok til came to the bank account section - i know its been said may a time but brain is fried now
Currently have joint bank account with hubby, got a seperate (supposed to be internet saver- but dont have that facility anymore as no longer have current account with them) savings act which child benifit goes into - maybe in just my name
So - do I need to remove my name from joint account now and ask if they will open me a basic card one in just my name or wait until 14th when I go to court?
My wages go into joint account do I just alert my boss that the names now changed (just hubbys) but act number etc the same?
apologies for asking the obvious? again
thanks