SOA Advice please

Dooood

Hi folks.

I'm frantically trying to sort out this SOA ahead of my court date on Tues - the half-term hols didn't help!

I'd appreciate any comments regarding these figures.
I can already see where additional cuts need to be made but I'm trying to anticipate every expense that crops up in life.

I'm currently unemployed with 2 children under 16 and desperately hoped to secure work before bankruptcy but prospects are looking worse than ever!!!

Cheers all!!!

Dooood!

Statement of Affairs and Personal Balance Sheet[/b]

Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 1162.5
Other income............................ 0
Total monthly income.................... 1162.5

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 550
Management charge (leasehold property).. 0
Council tax............................. 72
Electricity............................. 39
Gas..................................... 43
Oil..................................... 0
Water rates............................. 37
Telephone (land line)................... 30
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 350
Clothing................................ 35
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 30
Childcare/nursery....................... 0
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 5
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 25
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 20
Total monthly expenses.................. 1313


Assets
Cash.................................... 50
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 50

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Virgin Credit card.............10000.....0.........0
Capital One....................7000......0.........0
Total unsecured debts..........17000.....0.........-


Monthly Budget Summary
Total monthly income.................... 1,162.5
Expenses (including HP & secured debts). 1,313
Available for debt repayments........... -150.5
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -150.5

Personal Balance Sheet Summary
Total assets (things you own)........... 50
Total HP & Secured debt................. -0
Total Unsecured debt.................... -17,000
Net Assets.............................. -16,950

MrsPorridge

I'm sure others will be along shortly with more advice but for a start you can cut your groceries budget down - check out the old style boards. I spend approx £150 - £200 per month on 2 adults and 1 child (incl. cleaning items and toiletries). You don't need the £20 emergency fund. Can you do the haircuts yourself? I cut both DS and DH's hair and DH cuts my hair (although he hates doing it). Do you really need to save £25 per month for presents? Perhaps you could make do with home made gifts for a while?

Good luck