My SOA

mike1966_2

Hi all I'm self employed in the property maintenance business and have a car and a van, so some figures may seem a bit high.

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 4
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 800
Partners monthly income after tax....... 400
Benefits................................ 1100
Other income............................ 0
Total monthly income.................... 2300
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 190
Rent.................................... 252
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 36
Telephone (land line)................... 30
Mobile phone............................ 30
TV Licence.............................. 15
Satellite/Cable TV...................... 25
Internet Services....................... 10
Groceries etc. ......................... 140
Clothing................................ 30
Petrol/diesel........................... 280
Road tax................................ 34
Car Insurance........................... 58
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 80
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 85
Haircuts................................ 15
Entertainment........................... 0
Holiday................................. 85
Emergency fund.......................... 0
Total monthly expenses.................. 1620

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2
Other assets............................ 0
Total Assets............................ 2

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 0........(190)......0
Total secured & HP debts...... 0.........-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
visa...........................1000......31........0
ccj............................1600......100.......0
provident......................1200......240.......0
unofficial overdraft...........800.......0.........0
greenwood credit...............650.......110.......0
s and u credit.................1000......220.......0
Total unsecured debts..........6250......701.......-

Monthly Budget Summary
Total monthly income.................... 2,300
Expenses (including HP & secured debts). 1,620
Available for debt repayments........... 680
Monthly UNsecured debt repayments....... 701
Amount short for making debt repayments. -21
Personal Balance Sheet Summary
Total assets (things you own)........... 2
Total HP & Secured debt................. -0
Total Unsecured debt.................... -6,250
Net Assets.............................. -6,248

nervousmother

mike1966 wrote: »

Hi all I'm self employed in the property maintenance business and have a car and a van, so some figures may seem a bit high.

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 4
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 800
Partners monthly income after tax....... 400
Benefits................................ 1100
Other income............................ 0
Total monthly income.................... 2300
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 190 check your agreement may not be allowed
Rent.................................... 252
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 36
Telephone (land line)................... 30
Mobile phone............................ 30 £40 for two of you
TV Licence.............................. 15
Satellite/Cable TV...................... 25 Not allowed
Internet Services....................... 10 make sure you say needed for homework
Groceries etc. ......................... 140 family of 6? £550
Clothing................................ 30 £30 per person £180
Petrol/diesel........................... 280
Road tax................................ 34
Car Insurance........................... 58
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 80 what is this? allowed £5 per child
Medical (prescriptions, dentist etc).... 0 do you get free?
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 you really need this!
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 85 not allowed
Haircuts................................ 15
Entertainment........................... 0
Holiday................................. 85
Emergency fund.......................... 0
Total monthly expenses.................. 1620

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2
Other assets............................ 0
Total Assets............................ 2

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 0........(190)......0
Total secured & HP debts...... 0.........-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
visa...........................1000......31........0
ccj............................1600......100.......0
provident......................1200......240.......0
unofficial overdraft...........800.......0.........0
greenwood credit...............650.......110.......0
s and u credit.................1000......220.......0
Total unsecured debts..........6250......701.......-

Monthly Budget Summary
Total monthly income.................... 2,300
Expenses (including HP & secured debts). 1,620
Available for debt repayments........... 680
Monthly UNsecured debt repayments....... 701
Amount short for making debt repayments. -21
Personal Balance Sheet Summary
Total assets (things you own)........... 2
Total HP & Secured debt................. -0
Total Unsecured debt.................... -6,250
Net Assets.............................. -6,248

Ok I have done some amendments you need to get your expenses up so less chance of an ipo, but only claiming for what is allowed

nervousmother

oops ment to say I recently read of a case where they had both a car and a van the OR allowed them to keep the van but took the car as an asset

mike1966_2

hi nervousmother vbmenu_register("postmenu_18763213", true); thanks for that, i find it hard to post on here, i pluck up the courage and when someone fires questions i just go to bit's, and i dont know wot to ask.

mike1966_2

i don't understand anything

nervousmother

What is it you dong understand? you have no need to go to bits on this board, everyone is friendly and helpful. welcome.

robsimps53

sorry to jump in, nervous mother, when you say check the agreement for the HP what do you mean, as im in the same situation with my bike which i use for work. do you mean you can not put it the BR or not allowed in the SOA

thanks

nervousmother

most of the time when a HP company is informed of your BR they take the goods back, normally a BR clause in the agreement.

robsimps53

ah right, i should be ok then as i rang the finance company up and they said as long as i keep up the payments i should be ok