Confused about SOA!!!!!

pinkbabycakes

Evening everyone,

Just a quickie...

Confused!!! Going to crack on with my SOA, but, do I have to include partners income?! The mortgage and all household bills are in his name and all paid for by him.... so would I include them? I am going bankrupt for 26k personal debts CC and Loans....

can anyone put me straight!?

DON79

Hi pinkbabycakes

you have to include only the amount of your partners income that he contributes to household expenses. do not put his full wage on your soa, only put enough down to balance the figures and give you the least amount of surplus possible so that you do not get an IPA.

Still put down all the household bills but split them between you 70/30 as thats what I did even though my OH pays all the mortgage and council tax etc and I paid all the food. and then your OH pays 70% of the bills and you pay the other 30%.

Hope that makes sense, never too good at explaining these things.

pinkbabycakes

DON79 wrote: »

Hi pinkbabycakes

you have to include only the amount of your partners income that he contributes to household expenses. do not put his full wage on your soa, only put enough down to balance the figures and give you the least amount of surplus possible so that you do not get an IPA.

Still put down all the household bills but split them between you 70/30 as thats what I did even though my OH pays all the mortgage and council tax etc and I paid all the food. and then your OH pays 70% of the bills and you pay the other 30%.

Hope that makes sense, never too good at explaining these things.

Hi DON97

That's helped, but I am still confused!!! I thought the SOA was just for the stuff I paid for.... How do I make it look like it's split 70/30 on an SOA sheet? Does the SOA sheet let you show who pays for what? Sorry if I sound stupid!!!

DON79

what to do is total up all of the household expense and say they come to £900 - then split that as 70% your OH's contribution and 30% yours - which would be £630 for your OH's contribution (this goes under partners contribution on the forms) and £270 as your contribution to household expenses only and then you would add on your personal expenses for things like haircuts and child expenses and medical etc.

the reason that you split the household expense between you is to lessen the amount of surplus. because if you only put down what you paid for which would be very little, it would give you a massive surplus - but the OR will assume you contribute to the household expenses therefore you include these on your soa.

Have you done an soa at www.makesenseofcards.co.uk yet?

sorry, hope haven't confused things too much!

pinkbabycakes

DON79 wrote: »

what to do is total up all of the household expense and say they come to £900 - then split that as 70% your OH's contribution and 30% yours - which would be £630 for your OH's contribution (this goes under partners contribution on the forms) and £270 as your contribution to household expenses only and then you would add on your personal expenses for things like haircuts and child expenses and medical etc.

the reason that you split the household expense between you is to lessen the amount of surplus. because if you only put down what you paid for which would be very little, it would give you a massive surplus - but the OR will assume you contribute to the household expenses therefore you include these on your soa.

Have you done an soa at www.makesenseofcards.co.uk yet?

sorry, hope haven't confused things too much!

Mmmmmm ok.... understand a bit better..! I've not done an SOA at makingsenseof cards yet, but have just had a look! Looks involved! Is it the same SOA format that will be on the form I fill out to go BR? Are there guidelines as to what they except? From looking over a few threads of other peoples SOA's, some people say they dont allow anything for 'Presents' (as an example).

pinkbabycakes

...I only really pay for food/groceries, and everything for our little boy etc, no bills, apart from my own. Baby No. 2 is due in May, so come then, I'll only be getting maternity allowance!

DON79

That is exactly what I do - I pay for all the food and kid expenses and life insurance and my OH takes care of all the big bills. but on my soa, I totalled up all our household expenses and did the 70/30 split thing.

re the presents thing or other things like emergency fund - they are generally not allowed but if you put them on the soa, it is then upto the OR to say "no you can't have that".

with the soa at makesenseofcards, you don't have to put in creditors details or assets really, just the income and expenditure and then format it for mse and post it on a new thread to get ideas about what to increase or decrease or add on.

pinkbabycakes

DON79 wrote: »

That is exactly what I do - I pay for all the food and kid expenses and life insurance and my OH takes care of all the big bills. but on my soa, I totalled up all our household expenses and did the 70/30 split thing.

re the presents thing or other things like emergency fund - they are generally not allowed but if you put them on the soa, it is then upto the OR to say "no you can't have that".

with the soa at makesenseofcards, you don't have to put in creditors details or assets really, just the income and expenditure and then format it for mse and post it on a new thread to get ideas about what to increase or decrease or add on.

Thanks DON79, I'll give it a go!

DON79

sorry for the confusion - i know what I want to say but then when I type it - it comes out all bleugh! combination of late night and OH's banana wine! Sorry.

pinkbabycakes

DON79 wrote: »

sorry for the confusion - i know what I want to say but then when I type it - it comes out all bleugh! combination of late night and OH's banana wine! Sorry.

Banana wine....Mmmmm!? I've allowed myself half a small glass of red wine. don't remember missing wine in first pregnancy...!! Ah well, only 17 weeks to go...