my soa. please take a look

spenderblender

I have filled my soa in on the website cardsense but cant get my head round how I have been living and paying debt free £298 when it leaves me with less than I need basic.
Please take a look at it for a joint SOA. meaning all our money together paying all bills as Clanbailey did with her OR, I will then rejig it all to do seperate ones for our forms.

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................ 0
Partners monthly income after tax....... 800
Benefits......child tax , inc, child b..... 773
Other income............................ 0
Total monthly income.................... 1573
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments.....car............ 203
Hire Purchase (HP) repayments........... 0
Rent.................................... 256
Management charge (leasehold property).. 0
Council tax............................. 82
Electricity............................. 60
Gas..................................... 60
Oil..................................... 0
Water rates............................. 38
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 500
Clothing................................ 50
Petrol/diesel........................... 80
Road tax................................ 14
Car Insurance........................... 40
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses.....school dinners....... 80
Medical (prescriptions, dentist etc).... 18
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 18
Life assurance ......................... 5
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 30
Entertainment........................... 20
Holiday................................. 60
Emergency fund.......................... 0
Total monthly expenses.................. 1722

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 6500
Other assets............................ 0
Total Assets............................ 6500

Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 6500.....(203)......9.9
Total secured & HP debts...... 6500......-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
debts..........................46000.....298...... .0
Total unsecured debts..........46000.....298.......-

Monthly Budget Summary
Total monthly income.................... 1,573
Expenses (including HP & secured debts). 1,722
Available for debt repayments........... -149
Monthly UNsecured debt repayments....... 298
Amount short for making debt repayments. -447
Personal Balance Sheet Summary
Total assets (things you own)........... 6,500
Total HP & Secured debt................. -6,500
Total Unsecured debt.................... -46,000
Net Assets.............................. -46,000
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.




I did post this in the wrong place and got a reply from someone who gave this advice as follows but, I have done it to the advice given previously
Originally Posted by spenderblender

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................ 0
Partners monthly income after tax....... 800
Benefits......child tax , inc, child b..... 773
Other income............................ 0
Total monthly income.................... 1573
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments.....car............ 203
Hire Purchase (HP) repayments........... 0
Rent.................................... 256
Management charge (leasehold property).. 0
Council tax............................. 82
Electricity............................. 60 This is high - can you swap to a better deal?
Gas..................................... 60 This is high - can you swap to a better deal?
Oil..................................... 0
Water rates............................. 38 Are you on a meter? This looks high too!
Telephone (land line)................... 60 does this include phone, TV and BB? If not then it needs to come down!
Mobile phone............................ 0
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 500 HOW much??? Seriously you can get this down to £200 - you could get it lower but that will take time.
Clothing................................ 50 Sorry gotta go - £15 a month and get cheap clothes through Ebay or even better Freecycle!
Petrol/diesel........................... 80
Road tax................................ 14
Car Insurance........................... 40 Have you shopped around lately?
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses.....school dinners....... 80 You could save on this if you gave them packed lunches.
Medical (prescriptions, dentist etc).... 18
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 18
Life assurance ......................... 5
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 30
Entertainment........................... 20
Holiday................................. 60 You can't afford a holiday right now so drop this I'm afraid...
Emergency fund.......................... 0
Total monthly expenses.................. 1722

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 6500
Other assets............................ 0
Total Assets............................ 6500

Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 6500.....(203)......9.9
Total secured & HP debts...... 6500......-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
debts..........................46000.....298...... .0
Total unsecured debts..........46000.....298.......-

Monthly Budget Summary
Total monthly income.................... 1,573
Expenses (including HP & secured debts). 1,722
Available for debt repayments........... -149
Monthly UNsecured debt repayments....... 298
Amount short for making debt repayments. -447
Personal Balance Sheet Summary
Total assets (things you own)........... 6,500
Total HP & Secured debt................. -6,500
Total Unsecured debt.................... -46,000
Net Assets.............................. -46,000
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.
Looking at what I have written then there is £400 found easily - with some more tweaking you should be able to find the deficit of £447 and break even. Can either of you increase your income at all?

Hi, I'm a Board Guide on the Special Occasions, Discount Codes, DFW and Budgetingboards which means I'm a volunteer to help the board run smoothly and I can move and change posts there. However, do remember that Board Guides don't read every post. If you spot an abusive or illegal post then please report it to abuse@moneysavingexpert.com. It is not part of my role to deal with abuse. Any views are mine and are not the official line of moneysavingexpert.com.

DON79

Spenderblender, I would take a look but I don't want to confuse you again so I will let one of the experts look for you....giving this a bump.

minx79

bumpity bump!

patsypat911

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................ 0 Do you claim any benefits? You must have some sort of income?
Partners monthly income after tax....... 800 Partners contribution only
Benefits......child tax , inc, child b..... 773
Other income............................ 0
Total monthly income.................... 1573
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments.....car............ 203 if this is secured is it a HP agreement?? is the car essential? Do not include this this in your expenses
Hire Purchase (HP) repayments........... 0
Rent.................................... 256
Management charge (leasehold property).. 0
Council tax............................. 82
Electricity............................. 60
Gas..................................... 60
Oil..................................... 0
Water rates............................. 38
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 13 £12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 500
Clothing................................ 50 increase to £100
Petrol/diesel........................... 80
Road tax................................ 14
Car Insurance........................... 40
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses.....school dinners....... 80
Medical (prescriptions, dentist etc).... 18
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 18 does this include accidental cover?
Life assurance ......................... 5 OR may have an interest in this
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15 not usualy allowed but leave it and see
Haircuts................................ 30
Entertainment........................... 20 not allowed
Holiday................................. 60
Emergency fund.......................... 0
Total monthly expenses.................. 1722

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 6500 OR wont allow you to keep a car that is usually worth approx £2000 and that is if the car is essential, you will have to make a case to prove that you need a car
Other assets............................ 0
Total Assets............................ 6500

Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 6500.....(203)......9.9
Total secured & HP debts...... 6500......-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
debts..........................46000.....298...... .0
Total unsecured debts..........46000.....298.......-

Monthly Budget Summary
Total monthly income.................... 1,573
Expenses (including HP & secured debts). 1,722
Available for debt repayments........... -149
Monthly UNsecured debt repayments....... 298
Amount short for making debt repayments. -447
Personal Balance Sheet Summary
Total assets (things you own)........... 6,500
Total HP & Secured debt................. -6,500
Total Unsecured debt.................... -46,000
Net Assets.............................. -46,000
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

Quite frankly the other comments from your 2nd SOA does not know what they are on about. Check through the threads on this site to check out other SOA, some very good advice is on this site!!
A couple of questions:
Do you work?? If not what benefits do you claim??
Do you need the car is it essential?
If the bankruptcy is for you you cannot put your partners full income in, only put what they contribute to the household nothing more.
Hope this helps, others with more experience will be along soon.

Jaynee123

Hi Patsypat,

I think you will find that the rubbish put on soa previously was from a MSE Zealot - the type that believes br's are criminals!!!!!!

Jaynee 123

patsypat911

Thank for letting me know Jaynee will know better next time!!

Jaynee123

No problem spenderbender. Unfortunately some members from the DFW forum don't understand that the soa for a bankrupt is different to a soa for someone who is trying to save money! Ignore DFW forum their all into reusing t-bags 3x before throwing away and they can make a small chicken last 6 weeks (for a family of 6) and then they will use the bones to make glue.

Sorry for taking the mickey out of them but they have been really nasty to some posters recently and I need to let off steam about them. Everyone here is either thinking about doing it or done it (bankruptcy that is). So you will always get friendly but knowledgeable advice and a few jokey comments too!!!!

Jaynee 123