My Soa

chellshoc

Could you lovely people have a look and give opinions please, myself and hubby are going br in the next couple months am in process of failing IVA at the moment total unsecured debts are £65,000 were paying £345 to the IVA but since we had to move rent doubled as did council tax etc so no way could we afford it.does the soa look ok? have i missed anything so much going on in head bit confused at mo

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 396
Partners monthly income after tax....... 1100
Benefits................................ 195
Other income............................ 0
Total monthly income.................... 1691
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 670
Management charge (leasehold property).. 0
Council tax............................. 170
Electricity............................. 35
Gas..................................... 35
Oil..................................... 0
Water rates............................. 35
Telephone (land line)................... 12
Mobile phone............................ 10
TV Licence.............................. 12.5
Satellite/Cable TV...................... 21
Internet Services....................... 0
Groceries etc. ......................... 400
Clothing................................ 40
Petrol/diesel........................... 60
Road tax................................ 10
Car Insurance........................... 16
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 17.5
Medical (prescriptions, dentist etc).... 12
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 27
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1628

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 400
Other assets............................ 0
Total Assets............................ 400

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

Monthly Budget Summary
Total monthly income.................... 1,691
Expenses (including HP & secured debts). 1,628
Available for debt repayments........... 63
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 63
Personal Balance Sheet Summary
Total assets (things you own)........... 400
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 400
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

RAS

Hi

You will be better posting a BR SOA on the bR sub-forum but as a starter, you will not be allowed mobiles or satellite TV but you can put mcvh nmore on phones (I think £60) and then pay them out of that.

You might get a cheap holiday allowed (£50) per month. and more for fuels.

Sharon87

£400 for groceries! :eek: Is that including things like cleaning stuff/washing powder? Even if it is it is massively high. What kind of food do you tend to buy? Can you get cheaper alternatives? Cook more from scratch?

Everything else seems reasonable, although will the gas be coming down soon? Will you need the heating on as much now it seems like it might be getting warmer.

meema

Hi, just wanted to say good luck and to ask whether you are looking to reduce your outcome..or want people to check that this would be an appropriate SOA to give to bankruptcy ppl?