SOA for 1 adult 2 kids

fairihell

Queen wrote: »

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

I was wondering where on the insolvency website I could find this information?
thanks so much

bluebird36

I think it is in the 'household expenditure' form, I would post a link but do not know how, sorry. Look in the sticky at the beginning of the forum with all the bankruptcy details....

http://www.insolvency.gov.uk/DocumentLibrary/Policy/Excel/Household%20Expenditur.xls

ha, it worked after all!:rotfl:

fiveyearplan

bluebird36 wrote: »

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 this looks low
Gas..................................... 40 ditto
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!

You still have to put down your car if it belongs to you - you cannot hide it.

fiveyearplan

clou19750 wrote: »

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

This is an SOA for BR purposes not for moneysaving. In BR we have to maximise our allowances because we will have no credit to fall back on.

JG1984

gas and electric are quite low we were paying 120 a month altogether for 2 adults 2 children in a 3 bed house. do you not have any medical expenses at all? i believe i have seen mentioned on here also that they allow £5 per week per child for hobbies or activities.

bluebird36

Sorry, I was not trying to hide the car, I listed it under the assets..

I would prefer to put the car on here, as it will bring me closer to the £99 allowed to be leftover. I worry, however, that they will not let me keep it (only worth £500 max) and then there are even less outgoings shown, as the travel allowance would have not been filled in...

Or do I get chance to change the SOA once they take the car?

Will post another SOA with car expenses included!
Thank you!

bluebird36

I think I betteer call the gas/electric people... Only moved late last year into this houseand I pay these figures by D/D. Do you think I could pay more for the purpose of the SOA? Also prices may go up?

Thanks for your comments!

JG1984

is the dd based on what you have used or is it an amount you/or supplier set to pay while they worked out your actual use? i started off paying 80 pm for gas and leccy after 3 months they then upped it to the correct 120pm. you could always give them a meter reading to check everythings correct.

bluebird36

I think they based it on what I used in my old house. Will be giving them a meter reading, like you suggested JG. Better to be safe than sorry!