My 1st SOA

Wkdwill

Can anyone take a look at my SOA please and give any advice etc. Our rent is usually 280 but as DH was ill a few months ago we fell behind and have been paying 400 to catch up. The Sky is usually £21 but DH says if he cant watch rugby at home he will go to pub to watch it (which will cost £15 a go), very selfish of him but he doesn't care, he thinks that if he is working then he should be able to do something he wants like watch rugby. I could get into it but I wont right now.

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1 (+1 on the way)
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 880
Benefits................................ 550
Other income............................ 0
Total monthly income.................... 1430

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 400 (this will go down to 280 as soon as arrears of 300 are paid)
Management charge (leasehold property).. 0
Council tax............................. 84
Electricity............................. 24
Gas..................................... 31 (this will have to increase as what we use is much more than our DD)
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 13
Mobile phone............................ 70 (will have to reduce these)
TV Licence.............................. 12
Satellite/Cable TV...................... 46 (this will reduce as only this high cos DH watching rugby)
Internet Services....................... 23 (currently in contract, 12 months left)
Groceries etc. ......................... 300
Clothing................................ 40
Petrol/diesel........................... 140
Road tax................................ 17
Car Insurance........................... 52
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 8
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 0
Total monthly expenses.................. 1315


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 900
Other assets............................ 0
Total Assets............................ 900

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 1,430
Expenses (including HP & secured debts). 1,315
Available for debt repayments........... 115
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 115

Personal Balance Sheet Summary
Total assets (things you own)........... 900
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 900

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

philnicandamy

Wkdwill wrote: »

Can anyone take a look at my SOA please and give any advice etc. Our rent is usually 280 but as DH was ill a few months ago we fell behind and have been paying 400 to catch up. The Sky is usually £21 but DH says if he cant watch rugby at home he will go to pub to watch it (which will cost £15 a go), very selfish of him but he doesn't care, he thinks that if he is working then he should be able to do something he wants like watch rugby. I could get into it but I wont right now.

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1 (+1 on the way)
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 880
Benefits................................ 550
Other income............................ 0
Total monthly income.................... 1430

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 400 (this will go down to 280 as soon as arrears of 300 are paid)
Management charge (leasehold property).. 0
Council tax............................. 84
Electricity............................. 24 Seems a little Low
Gas..................................... 31 Ditto (this will have to increase as what we use is much more than our DD)
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 13
Mobile phone............................ 70 (will have to reduce these) Very High....
TV Licence.............................. 12
Satellite/Cable TV...................... 46 (this will reduce as only this high cos DH watching rugby) Wont be allowed...could come from surplus if you have one...
Internet Services....................... 23 (currently in Again wont be allowed unless used for work/school homework etc...would have to come from surplus if not contract, 12 months left)
Groceries etc. ......................... 300
Clothing................................ 40
Petrol/diesel........................... 140
Road tax................................ 17
Car Insurance........................... 52
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 8 accidental damage cover? once BR you'd struggle to replace things brokwn
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 0
Total monthly expenses.................. 1315


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 900
Other assets............................ 0
Total Assets............................ 900

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 1,430
Expenses (including HP & secured debts). 1,315
Available for debt repayments........... 115
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 115

Personal Balance Sheet Summary
Total assets (things you own)........... 900
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 900

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

Just a few thoughts

doelani

Wkdwill wrote: »

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........- ????????


Monthly Budget Summary
Total monthly income.................... 1,430
Expenses (including HP & secured debts). 1,315
Available for debt repayments........... 115
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 115

Personal Balance Sheet Summary
Total assets (things you own)........... 900
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 900

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

Well done on your SOA, you never included your debts you will need to edit it to include them. Glad to see you here instead of the IVA board :T

Wkdwill

philnicandamy wrote: »

Just a few thoughts

Thanks

When you put gas and electric a bit low, what would you put them at, as now I have read that my exsisting accounts may be frozen and I would have to start again possibly on pre-pay meters.

Would they want to check to prove im spending what I say I am on all these things? or would they just see it on my bank statements.

Wkdwill

doelani wrote: »

Well done on your SOA, you never included your debts you will need to edit it to include them. Glad to see you here instead of the IVA board :T

Thanks
I will edit it, the only problem is I aren't currently paying anything on them am I ok just leaving the monthly payments part blank?

peachyprice

Don't worry about putting your debts on, they're not needed for a BR SoA.

peachyprice

Wkdwill wrote: »

Can anyone take a look at my SOA please and give any advice etc. Our rent is usually 280 but as DH was ill a few months ago we fell behind and have been paying 400 to catch up. The Sky is usually £21 but DH says if he cant watch rugby at home he will go to pub to watch it (which will cost £15 a go), very selfish of him but he doesn't care, he thinks that if he is working then he should be able to do something he wants like watch rugby. I could get into it but I wont right now.

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1 (+1 on the way)
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 880
Benefits................................ 550
Other income............................ 0
Total monthly income.................... 1430

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 400 (this will go down to 280 as soon as arrears of 300 are paid)
Management charge (leasehold property).. 0
Council tax............................. 84
Electricity............................. 24 £50
Gas..................................... 31 (this will have to increase as what we use is much more than our DD) £50
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 13 £35 That will take care of your internet
Mobile phone............................ 70 (will have to reduce these) £25 If these are contracts they can be included in BR and you can change to PAYG
TV Licence.............................. 12
Satellite/Cable TV...................... 46 (this will reduce as only this high cos DH watching rugby) £0 Not allowed, pay from surplus
Internet Services....................... 23 (currently in contract, 12 months left) Include in phone above
Groceries etc. ......................... 300 £400
Clothing................................ 40 £60, especially if you have the oposite baby to the one you already have
Petrol/diesel........................... 140
Road tax................................ 17
Car Insurance........................... 52
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0 £5 per week per child
Medical (prescriptions, dentist etc).... 0 £10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 8
Life assurance ......................... 0
Other insurance......................... 0 Breakdown cover?
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0 £25 (£10 per adult, £5 per child)
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 0
Total monthly expenses.................. 1315

Hope that helps some, although you can't include Sky & internet on your SoA it doesn't mean you can't have it, it just means you will have to pay it from your surplus.

natalouie

Are you both going BR? If only you, they cannot tell your OH what he can spend his money on. We give to charity about £100 per month. No one can stop my husband doing this or watching sky TV as he was not BR. If it is only you, he does not have to contribute all his wages into the pot and what he spends the rest on is his beeswax. Its a tricky area but what I am really getting at is there are ways and means to keep his rugby and keep him out of he pub!

Wkdwill

Well our debts aren't joint so I could go bankrupt on my own but that would only count for £16,000 and would still leave us with £8,000 of DH's debts, we dont work our money out seperately, we do it all together its just one of those things he is adamant about, he does want to clear our debts but he also wants to be able to do things like go out for a meal or for a day trip, not all the time though.

Summer1969

Wkdwill wrote: »

Well our debts aren't joint so I could go bankrupt on my own but that would only count for £16,000 and would still leave us with £8,000 of DH's debts, we dont work our money out seperately, we do it all together its just one of those things he is adamant about, he does want to clear our debts but he also wants to be able to do things like go out for a meal or for a day trip, not all the time though.

Do weigh up the pros and cons. We were both going to go bankrupt, then we looked at it, and there was more debt in my name, and also thought it better in the long run that only one of us went BR, for example, OH has a good job and I didn't want it to ruin his chances possibly in the future, also he is on commission, so we didn't want that touched and also if we want a mortgage in the future, thought it better if one of us wasn't BR, but obviously it depends on both of your circumstances, so make sure you look into it and have a chat with the CAB or the CCCS, see what the options are.

Wkdwill

Summer1969 wrote: »

Do weigh up the pros and cons. We were both going to go bankrupt, then we looked at it, and there was more debt in my name, and also thought it better in the long run that only one of us went BR, for example, OH has a good job and I didn't want it to ruin his chances possibly in the future, also he is on commission, so we didn't want that touched and also if we want a mortgage in the future, thought it better if one of us wasn't BR, but obviously it depends on both of your circumstances, so make sure you look into it and have a chat with the CAB or the CCCS, see what the options are.

The only problem with this is that if I went bankrupt the creditors that chase payments from DH are still going to want every spare penny we have for the £8,000 he owes, if that makes sense.

I dont know how to put it without sounding bad, we dont want to have to pay out every single penny we have spare for £8,000 rather than £24,000 and still have one of us bankrupt.

I dont want to seem like im trying to dodge paying, because im not.