My SOA ready for BR forms - any advice greatly appreciated xx

completemess

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................ 700
Partners monthly income after tax....... 1180
Benefits................................ 135.85
Other income............................ 281
Total monthly income.................... 2296.85
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax............................. 86.67
Electricity............................. 45
Gas..................................... 45
Oil..................................... 0
Water rates............................. 35.19
Telephone (land line)................... 57
Mobile phone............................ 0
TV Licence.............................. 11.61
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 450
Clothing................................ 50
Petrol/diesel........................... 130
Road tax................................ 18.33
Car Insurance........................... 47
Car maintenance (including MOT)......... 20
Car parking............................. 60
Other travel............................ 0
Childcare/nursery....................... 650
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 17.1
Pet insurance/vet bills................. 25
Buildings insurance..................... 0
Contents insurance...................... 25
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 0
Total monthly expenses.................. 2292.9

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured Debt
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 2,296.85
Expenses (including secured debts)...... 2,292.9
Available for debt repayments........... 3.95
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 3.95
Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total Secured debt...................... -0
Total Unsecured debt.................... -0
Net Assets.............................. 500
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.



The £135.85 benefit payment is child benefit - hope i've put this in the right place. The £281 payment is child tax credits.

completemess

Also the £57 phone bill is £35 for mobiles, £12 landline and internet payment.

Just thought maybe I should put the tax credits under benefits and child allowance under other payments?

tigerfeet2006

Completemess is it both of you going BR or just you? If it is just you is that your OH's full salary?

Will now go and have a quick look at your SOA.

tigerfeet2006

completemess 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................ 700
Partners monthly income after tax....... 1180
Benefits................................ 135.85
Other income............................ 281
Total monthly income.................... 2296.85
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax............................. 86.67 Round up to £87
Electricity............................. 45
Gas..................................... 45
Oil..................................... 0
Water rates............................. 35.19 £35
Telephone (land line)................... 57
Mobile phone............................ 0
TV Licence.............................. 11.61 £12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 450
Clothing................................ 50
Petrol/diesel........................... 130
Road tax................................ 18.33 £18
Car Insurance........................... 47 Make sure this is fully comp.
Car maintenance (including MOT)......... 20
Car parking............................. 60
Other travel............................ 0
Childcare/nursery....................... 650
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 17.1 £20
Pet insurance/vet bills................. 25 £20
Buildings insurance..................... 0
Contents insurance...................... 25 Does this include accidental damage?
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 Some allow, some don't but leave and see
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 0
Total monthly expenses.................. 2292.9

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured Debt
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 2,296.85
Expenses (including secured debts)...... 2,292.9
Available for debt repayments........... 3.95
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 3.95
Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total Secured debt...................... -0
Total Unsecured debt.................... -0
Net Assets.............................. 500
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.



The £135.85 benefit payment is child benefit - hope i've put this in the right place. The £281 payment is child tax credits.

Everything looks good. Put CT under benefits.

completemess

Thank you Tigerfeet will round those figures up/down as suggested. It is both of us going bankrupt, am I correct in thinking we have to divide this statement of affairs up percentage pay wise?? Once figures are definite will do this if so - sounds complicated. Do you split the ctc and child benefit 50/50? My husband is going bankrupt a month or two before me.

The car tax is fully comp, contents insurance is just a guess (half what we are paying now for buildings and contents) we move into our rented house in 4 weeks so will start getting quotes so we have an actual figure. Is accidental damage allowed?

Thank you for your help x

tigerfeet2006

completemess wrote: »

Thank you Tigerfeet will round those figures up/down as suggested. It is both of us going bankrupt, am I correct in thinking we have to divide this statement of affairs up percentage pay wise?? Once figures are definite will do this if so - sounds complicated. Do you split the ctc and child benefit 50/50? My husband is going bankrupt a month or two before me. You put the joint household bills down in full, then the individual bills. Your DH income in full and your contribution to the joint household bills. Then when you do yours you do it the oppisite way round. Is the CTC and CHB in yours or DH's name?

The car tax is fully comp, contents insurance is just a guess (half what we are paying now for buildings and contents) we move into our rented house in 4 weeks so will start getting quotes so we have an actual figure. Is accidental damage allowed? Yes it is allowed and is quite useful to ave if you have no CC's to fall back on.

Thank you for your help x

Hope that makes sense.

completemess

Thank you so much for your quick response. That's great will sort the insurance out asap and will include that. The child benefit and tax credits are in my name, shall I add them to my monthly salary and work out the percentage from that? Am I correct in thinking the contriutions to each others soa will be all our monthly income as we hardly have any surplus after essential outgoings?? Thanks again x

completemess

Will put ct under benefits too, thanx

completemess

Sorry i'm being really thick I don't understand fully how to split it all up. Sorry if i'm being numb x

tigerfeet2006

Put down on each SOA your joint household bills ie mortgage, utilities, council tax etc. Then your personal bills ie haircuts, mobile, prescription etc.

Then you put the full income down of the person on the form and the contribution to the joint bills from the other person. Then vice a versa on the other form.

completemess

Thank you so much I understand now, got myself all confused before x