Last/Lastest Version SOA and Cause of BR Statement (09:30 29/01)

creditpunch

Comments welcome


"I am a single mother of a 3 year old. When I was pregnant with my son I lived with my mother and my son’s father. The pregnancy wasn’t planned and my son’s father did not have a job. The pairing was a cultural pairing and I had a lot of pressure to stay with him. The relationship was abusive. I worked till the end of my pregnancy as I had since I was 14 during college and university.

Near the end of my pregnancy and due to my non willingness to stay in an abusive relationship I was asked to leave my mother’s home. I stayed a few months with a friend, sleeping on her sofa. In May 2005 my newborn son and I became homeless and were put into a hostel, then temporary accommodation, then given a permanent place in Nov 2007.

My debts now stand at circa £30k. This rose dramatically mainly since the pregnancy and birth of my son 4 years ago from living expenses while on maternity leave, childcare costs, putting myself back into education to better my job prospects and paying rent and minimally furnishing my flat which came completely unfurnished (inc. flooring). I also had debt from studying and credit cards from my early 20’s. I have no contact with my son's father and the CPA has not been able to find him or secure possible maintenance from him.

I had been able to manage my debt up until Sept 2008 on a salary of circa £22k - £27k over the last 4 years. I was paying out circa £1500 a month, servicing my debt and borrowing more to live. I managed to do this, while I worked on perfecting my credit score, which has had a legacy of defaults, late payments etc, with a view to consolidating into one payment from circa 10. In Sept 2008 my score was rated excellent, this is when I tried to consolidate but due to the current climate I was unsuccessful. I was no longer able to manage my living expenses and debt, which were not diminishing due to the vicious circle I was now in. Also my living expenses had increased in terms of childcare costs, activities that I have been advised could help address my son’s possible behavioural problems and other areas.

Then In November I was accepted for a new job with a better salary. However, the backlog of my debt makes it impossible to repay and even if that was not the case I would still not be able to meet the monthly debt commitments and living expenses.

I have sought advice from the CAB, Debt Line and Care First (employee care helpline).

I fully understand the effects and implications of bankruptcy, and sincerely regret the situation I am in."


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 2429.16
Partners monthly income after tax....... 0
Benefits................................ 77.6
Other income............................ 0
Total monthly income.................... 2506.76
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 600
Management charge (leasehold property).. 0
Council tax............................. 77
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 45
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 350
Clothing................................ 100
Petrol/diesel........................... 150
Road tax................................ 16
Car Insurance........................... 60
Car maintenance (including MOT)......... 30
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 692
Other child related expenses............ 25
Medical (prescriptions, dentist etc).... 25
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 25
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
Total monthly expenses.................. 2442

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 600
Other assets............................ 0
Total Assets............................ 600

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly.. .APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 2,506.76
Expenses (including HP & secured debts). 2,442
Available for debt repayments........... 64.76
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 64.76
Personal Balance Sheet Summary
Total assets (things you own)........... 600
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 600
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

creditpunch

printing and pressing the 'submit' in T-50 mins.:eek: :eek: :eek: :eek:

creditpunch

OMG have submited the forms I think I might faint

peachyprice

Sorry CP, I missed this, I was on my way home from work.

It looks fine, good luck for tomorrow. :j :j

philnicandamy

Looks AOK....good luck with everything tomorrow

Phil

nervousmother

good luck, hope all goes well x