SOA for 1 adult 2 kids

bluebird36

hello all,

I am reading posts in this forum since a few weeks and your kind replies are really helping me to try and figure out a way forward.
I have been supplementing my income for years with credit cards, store cards and overdraft facilities. My income was a lot lower in the past and has only recently increased. In April I will loose around £200 per month in tax credits (new figure already included in SOA) and I already have great difficulty paying all outgoings in time. My income is made out of wages, CB, WTC and CTC and Csa payments, all of which arrive on different dates throughout the month and this often leaves me short for some direct debit, which I then get charged for.... The following month I have even less money and more things do not get paid, and so on. I am sure a lot of you have been or are in a similar situation before...
Anyway, I have done the online test at CCCS and my only way forward is bankruptcy. I have not been to CAB yet, as no one ever answers their phone. I am so scared of not paying my bills and letters and phone calls, I cannot sleep anymore. I had to cancel several of my direct debits today, otherwise i cannot buy food...

Could you please go through my SOA and tell me if this is reasonable for 1 adult and 2 children (10 and 14)? I have added internet as it is required for homework and for me, as I am also a student...

Many thanks!

Here it goes:

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 968.83
Partners monthly income after tax....... 0
Benefits................................ 623.59
Other income............................ 327.27
Total monthly income.................... 1919.69
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 600
Management charge (leasehold property).. 0
Council tax............................. 70
Electricity............................. 33
Gas..................................... 40
Oil..................................... 0
Water rates............................. 38.8
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 12
Groceries etc. ......................... 400
Clothing................................ 120
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 80
Childcare/nursery....................... 120
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 1735.8

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
wtc............................1600......0.........0
halifax........................1400......35........0
egg............................3000......65........0
littlewoods....................900.......35........0
loan...........................9100......245.......0
mandco.........................50........5.........0
newlook........................200.......10........0
dp.............................60........5.........0
Total unsecured debts..........16310.....400.......-

Monthly Budget Summary
Total monthly income.................... 1,919.69
Expenses (including HP & secured debts). 1,735.8
Available for debt repayments........... 183.89
Monthly UNsecured debt repayments....... 400
Amount short for making debt repayments. -216.11
Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -16,310
Net Assets.............................. -15,810
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Oh, I have not added car expenses because I am scared that the OR will take my car and I want to try and be realistic. Instead I added £80 for travel. Is only travel to work allowed or also travel to dentist, who s in a different town (NHS!!!) about 6 miles away? My children also have regular health appointments, again in other towns (10 and 20 miles away)and I need to attend uni sporadically (long distance course).

Please help!

fairihell

Will be interested to hear what the clothing allowance is for adults and children? Good luck though and I am sure someone will be along to advise you soon!

bluebird36

yes, fairihell, I am really not sure. I need to wear smart clothing for work and my oldest daughter's school uniforms are dreadfully expensive... Both children grow and grow and the younger one needs schoolshoes and trainers nearly every six weeks...

philnicandamy

Hmm smart clothing for work? dont forget around £15 or so is allowed for dry cleaning

Queen

Hi on the insolvency website it states £155 for 2 adults and 2 children so I would think £120 sounds right but I think it also depends on individual OR let me know, I am waiting to hear about IPA and what they will allow

bluebird36

:eek: hi, thanks for the dry cleaning reminder! I have not even filled out any forms yet Queen, just contacted the co-op for an account and trying to make sense of all my incomings and outgoings... do i need to fill in the insolvency forms before i call the court for an appointment or only ready for the court date?

Queen

We filled ours in a few days before court date and took them with us which they made amendments at there end, stamped forms and returned 1 copy to us for OR appointment

clou19750

I think 400 pounds food bill could be reduced further and could u get some help towards your rent? eg house benefit ?

bluebird36

hi clou19750,
I was looking into housing benefit on my local council's benefit calculator. with my wages (as they will be from April) i could get around 15 pound per week.
The trouble is that my landlady does not want me to claim housing benefit, I think because she has a normal mortgage not a 'rent it out' mortgage, on the property (at least that is how I understood it).

What d you think is reasonable for food? I just find that all food is getting more and more expensive and the kids are eating more! Also i have included pet food into this, we have a dog, 3 cats and 2 rabbits:D - could I reduce the food expenditure and add school dinners instead?

Thanks for everyones comments so far, I just feel relieved to be able to discuss this with someone as I am so ashamed to let it come to this!

Buddingblonde

It doesnt matter how she is renting - it is money that you are entitled to - a whopping £780 a year which will be going unclaimed. You should tell her this and ask if she would rather reduce your rent by that amount and save you having to claim!

bluebird36

Yes, I know.... I feel gutted about it! But I am so worried to lose the house, what if she tells me to find somewhere ele to live? I only just moved there, was so glad to get a reasonable (for this area) house. I cannot afford any more expenses for moving...The worst thing is that my hourse will be cut in Autumn and my wages will then be around 5 to 7 thousand Pound less. So housing Benefit would be essential then.

I suppose I was careless (no actually stupid) not to take all this into consideration before, I just tried to ignore it all....

Again, thanks for your comments!:T