My SOA, some views please

robsimps53

Hi everyone, ive managed to complete my SOA. I would realy like some comments on what you think

thanks



Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 462.44
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 462.44
Monthly Expense Details
Mortgage................................ 377
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 79
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 20
Gas..................................... 30
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 40
TV Licence.............................. 0
Satellite/Cable TV...................... 38
Internet Services....................... 0
Groceries etc. ......................... 100
Clothing................................ 10
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 14
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 22
Contents insurance...................... 22
Life assurance ......................... 14
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 13
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 779

Assets
Cash.................................... 0
House value (Gross)..................... 50000
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 51500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 60000....(377)......0
Hire Purchase (HP) debt ...... 1200.....(79).......0
Total secured & HP debts...... 61200.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
personal loan..................14300.....286.......0
credit card....................1300......35........0
overdraft......................300.......0.........0
usc store card.................400.......15........0
black horse car loan...........9770......0.........0
store card.....................800.......25........0
Total unsecured debts..........26870.....361.......-

Monthly Budget Summary
Total monthly income.................... 462.44
Expenses (including HP & secured debts). 779
Available for debt repayments........... -316.56
Monthly UNsecured debt repayments....... 361
Amount short for making debt repayments. -677.56
Personal Balance Sheet Summary
Total assets (things you own)........... 51,500
Total HP & Secured debt................. -61,200
Total Unsecured debt.................... -26,870
Net Assets.............................. -35,370

www.makesenseofcards.com.

dalip

Ummmmmm £100 on food for a month for 2 adults and 2 children,then £38 for sky:eek: and £40 mobile, you have to be joking.Sorry there must be more income one way or another surely

Ok sky is not allowed,are you on JSA or DLA? Any benefits have to be included. Is this just you going bc or both you and your partner?.
Dx

robsimps53

i do get some other income but it's cash and one week i may have it the next i may not. i didnt realy know weather to put it in as the OR may ask more questions ( where does it come from, why aint you paying tax etc) as for food it is just an estimate as me and my OH generaly put what ever spare cash we have together

any thoughts

dalip

Do you not get child benefit,,,working take credit,ect ect?. It as to be put down. On those figures there is no chance of an IPA but a judge would need to see that you can still live even after bc,and on those figures that is not living.Dx

robsimps53

we get child benefit which gets paid into my partners account

Jaynee123

I don't wish to seem rude but what kind of house is only worth £50,000?

Jaynee123

nervousmother

Is only one of you going BR? the income and expenses seem rather low for a family of 4. Unless of course those figures are weekly???
is your partner going BR as well as you?

robsimps53

a 3 bed terraced house in south wales, 50k is a fair price around my area you can even pick up one for 40k

robsimps53

nervousmother wrote: »

Is only one of you going BR? the income and expenses seem rather low for a family of 4. Unless of course those figures are weekly???
is your partner going BR as well as you?

it's only my self going bankrupt due to me being out of work, the income was double when my partner was in work and getting maternity pay to, it's only recently droped to what it is now plus i get some work from week to week but this is paid to me in cash.

so far we have have managed to keep the payments up to date on the mortgage and all other essential bills, it's only my unsecured debt that im only paying token payments to of anything from a £1 to £30. i realy want to get things sorted soon because i dont want to start falling behind on the mortgage and risk it being repossed

nervousmother

Ok im a bit slow but getting things now, I presume the figures above are not the full amount but a proportion of your monthly bills. I know you can claim more, £40 for clothes, other travel, perscriptions and medical, however your not getting any money at all so im not sure how the OR will view it....

nervousmother

Your other half would have to buy your beneficial interest in the house if you were wanting to keep it, your name would stay on the mortgage but any interest would belong to your other half...