MY SOA please help

moneybuster

Just had a quick look at the figures and they are about right could you all have a look for me the internet tv phone are all combined in one payment including calls, we har getting rid one one car, the other one is my mobility car.

Regards Moneybuster


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.................... 2
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 150
Benefits................................ 1408
Other income............................ 0
Total monthly income.................... 1558
Monthly Expense Details
Mortgage................................ 563
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 155
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 25
Electricity............................. 60
Gas..................................... 45
Oil..................................... 0
Water rates............................. 29
Telephone (land line)................... 0
Mobile phone............................ 8
TV Licence.............................. 12
Satellite/Cable TV...................... 48.5
Internet Services....................... 0
Groceries etc. ......................... 320
Clothing................................ 0
Petrol/diesel........................... 100
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 13
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1398.5

Assets
Cash.................................... 0
House value (Gross)..................... 145000
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 145800

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 85000....(563)......5.6
Hire Purchase (HP) debt ...... 13000....(155)......5.1
Total secured & HP debts...... 98000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
capital one....................8500......250.......NaN
intelegent finance.............11500.....120.......7.4
nat west.......................2000......48........16.3
Total unsecured debts..........22000.....418.......-

Monthly Budget Summary
Total monthly income.................... 1,558
Expenses (including HP & secured debts). 1,398.5
Available for debt repayments........... 159.5
Monthly UNsecured debt repayments....... 418
Amount short for making debt repayments. -258.5
Personal Balance Sheet Summary
Total assets (things you own)........... 145,800
Total HP & Secured debt................. -98,000
Total Unsecured debt.................... -22,000
Net Assets.............................. 38,800
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

Debt_Free_Chick

Groceries stick out too. For two of you, you could get that down, possibly to £200. Can you tell us a bit about how/what you eat and what you buy?

RAS

Hi

We ned to know the cap1 APR as it is probably huge.

TotallyBroke

moneybuster wrote: »

Just had a quick look at the figures and they are about right could you all have a look for me the internet tv phone are all combined in one payment including calls, we har getting rid one one car, the other one is my mobility car.

Regards Moneybuster


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.................... 2
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 150 Is this correct?
Benefits................................ 1408
Other income............................ 0
Total monthly income.................... 1558
Monthly Expense Details
Mortgage................................ 563
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 155
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 25 This is very low considering the size of the mortgage each month. Do you receive help for this via a benefit
Electricity............................. 60
Gas..................................... 45
Oil..................................... 0
Water rates............................. 29
Telephone (land line)................... 0
Mobile phone............................ 8
TV Licence.............................. 12
Satellite/Cable TV...................... 48.5
Internet Services....................... 0
Groceries etc. ......................... 320 You maybe able to cut this down with careful meal planning and buying cheaper cleaning products etc
Clothing................................ 0
Petrol/diesel........................... 100
Road tax................................ 0 Do mobility pay for this. If not then you need to budget something here
Car Insurance........................... 0 Ditto above
Car maintenance (including MOT)......... 0 Ditto above
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 13
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 I'm sure you bought something last year so you need to factor an amount into this
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1398.5

Assets
Cash.................................... 0
House value (Gross)..................... 145000
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 145800

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 85000....(563)......5.6
Hire Purchase (HP) debt ...... 13000....(155)......5.1
Total secured & HP debts...... 98000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
capital one....................8500......250.......NaN
intelegent finance.............11500.....120.......7.4
nat west.......................2000......48........16.3
Total unsecured debts..........22000.....418.......- What did you spend all this money on? Is there anything you can sell to use to pay off the debts.

Monthly Budget Summary
Total monthly income.................... 1,558
Expenses (including HP & secured debts). 1,398.5
Available for debt repayments........... 159.5
Monthly UNsecured debt repayments....... 418
Amount short for making debt repayments. -258.5
Personal Balance Sheet Summary
Total assets (things you own)........... 145,800
Total HP & Secured debt................. -98,000
Total Unsecured debt.................... -22,000
Net Assets.............................. 38,800
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

I really do not know what to suggest as you have some really big debts against your home and as unsecured debts. You really need to sell whatever you can to try and pay some of it off. Also can your partner not up the income. It looks like they are only earning £30+ per week so that would only be 1 day. The income needs to be increased and quickly.

moneybuster

Hi all the food bill is for 2 adults 2 children the car has its road tax maintance payed for via my allowance, 22 grand and nothing to show for it mainly on holidays etc could pay for all this while still working but after accident left in the lurch.

partner only works one day as she is my carer

council tax benifit as well bill should be 106 per month

Christmas presents ok about 10 per month

capital one intrest rate is 0% at the moment for 6 months



Regards Moneybuster

wanna-be-mortgage-free_2

Hi there

You may have to start making token payments to your creditors and go on a DMP. You should contact CCCS to make an appointment. They will also do a benefits check.

In terms of your food bill, we spend approximately £40 a week for 2 adults and 2 children so there is room to cut that down. Can you do without the motability car? If so then you would get this as money instead.

Sorry I can't be of any further help.

TotallyBroke

Sorry to be nosey but did you not have any insurance to cover the accident you had. How long ago did you have the accident?
Is your disability so severe that you need 24 hours care 6 days a week.
I know nothing about mobility but if you have a mobility car is the disabled person the only one that can drive it. If that is so, then if you can care for yourself so your partner can increase hours.
Which would be more benefit for yourselves? Keeping the mobility car and getting rid of the other one or giving up the mobility one and having the money (as someone else suggested).

Could you split out on the soa the different amounts for different benefits. People can then assess whether you are getting everything that you are entitled. So have Benefit CB & CTC.......?? then council tax ben.....?? Disability All.....??. On the original SOA you can change headings and add ones you need and delete ones you don't.
Are you claiming anything towards housing costs. Have you looked into whether you can claim Mortgage Interest Relief benefit

moneybuster

TotallyBroke wrote: »

Sorry to be nosey but did you not have any insurance to cover the accident you had. How long ago did you have the accident?
Is your disability so severe that you need 24 hours care 6 days a week.
I know nothing about mobility but if you have a mobility car is the disabled person the only one that can drive it. If that is so, then if you can care for yourself so your partner can increase hours.
Which would be more benefit for yourselves? Keeping the mobility car and getting rid of the other one or giving up the mobility one and having the money (as someone else suggested).

Could you split out on the soa the different amounts for different benefits. People can then assess whether you are getting everything that you are entitled. So have Benefit CB & CTC.......?? then council tax ben.....?? Disability All.....??. On the original SOA you can change headings and add ones you need and delete ones you don't.
Are you claiming anything towards housing costs. Have you looked into whether you can claim Mortgage Interest Relief benefit

The wife can drive and i can drive it she cares for me 35 hours per week she helps me to wash and bath dry my self she cooks for me and is there for any emergencies like when i keel over with pain i have about a 5 min warning the pain is in onset i am on bunromorphnies and i am claiming what i need to claim no more no less.


no insurance just a pension but i do not think it will pay out as i do not meet the pensions directive of being perminant but the consultant and my GP say i am perminant

list

DLA middle rate care

DLA high rate mobility

IIDB industrial injuries disablement benefit

IB incap benefit

carers allowance

thats all i am entitled to


Regards Moneybuster