Going bankrupt - confused about SOA

fiveyearplan

paulc19 wrote: »

Thanks Dalip. I was going on what one poster suggested with groceries and clothing but even with bringing them down i won't have any surplus. Are you sure a partner's contribution of 175 will be ok? Sorry, i just panic about these things. Also my working tax credit will stop from 2nd April but i want to go BR before this, i should still include it though, right? and just tell OR when he speaks to me. Yes, you need to state how things are on the date of BR so if you go BR before April then put it down and explain if you need to.

Many Thanks.

Ammended once more....

[tt]Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1165
Partners monthly income after tax....... 175
Benefits................................ 431 Is any of this child benefit? If so separate it out
Other income............................ 0
Total monthly income.................... 1771
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 550
Management charge (leasehold property).. 0
Council tax............................. 90
Electricity............................. 40 seems low
Gas..................................... 40 seems low
Oil..................................... 0
Water rates............................. 35
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 0 12
Satellite/Cable TV...................... 0
Internet Services....................... 20 may not be allowed but leave it in and see
Groceries etc. ......................... 500
Clothing................................ 130
Petrol/diesel........................... 100
Road tax................................ 17
Car Insurance........................... 42
Car maintenance (including MOT)......... 30
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 25
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 11
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 60
Emergency fund.......................... 0
Total monthly expenses.................. 1830

I've made a few comments above.

robsimps53

Hi FYP, why do you need to separate the child tax benefits from the benefits section, where else would you put this

dalip

You seperate the child benefit so that the OR can discount it when looking to see if the person has enough surplus to implement an IPA.

Yes the OR will be fine with your OH £175 contribution.If any questions are asked you will get chance to explain at the interview that your wife does not work and is only on benefits.

BC is an individual thing thats, why they ask for a partners contribution rather than their income. You OH has their own debts,personal expenditure ect to consider and this is accepted.Dx

robsimps53

so it's still ok to keep it together with the benefits section if you have hardly no surplus their or it is essential to separate this, as i was not advised to do that in my SOA

peachyprice

How old is your daughter? She will get her nursery place funded from the age of 3.

dalip

All your figures are not set in stone.;) Each OR allows different amounts,although they should go by certain guidelines:rolleyes: . So with that in mind you still need to put down what the amount is for child benefit seperate,or even in brackets after.Dx

paulc19

Thanks guys.
Could go on ammending it forever, but seems like i'm roughly there now.

My daughter is 2 btw so not entitled to a free place just yet.

Need internet for work so i'm keeping that in.

My gas and elec is £80 direct debit and am still in credit.

Yes £133 of those benefits are CB so will seperate.

Ta