A few questions about BR

NC-Clio

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 4
Number of children in household......... 2
Number of cars owned.................... 4
Monthly Income Details
Monthly income after tax................ 1000
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1000
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 175
Hire Purchase (HP) repayments........... 225
Rent.................................... 350
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 25
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 50
Petrol/diesel........................... 50
Road tax................................ 13
Car Insurance........................... 75
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 30
Emergency fund.......................... 0
Total monthly expenses.................. 895

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2500
Other assets............................ 0
Total Assets............................ 2500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 8000.....(175)......0
Hire Purchase (HP) debt ...... 9500.....(225)......0<
hp on bike.....................1300......-.........0
Total secured & HP debts...... 18800.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
barclay card 1.................750.......26........0
carclay card 2.................550.......18........0
Total unsecured debts..........1300......44........-

Monthly Budget Summary
Total monthly income.................... 1,000
Expenses (including HP & secured debts). 895
Available for debt repayments........... 105
Monthly UNsecured debt repayments....... 44
Amount left after debt repayments....... 61
Personal Balance Sheet Summary
Total assets (things you own)........... 2,500
Total HP & Secured debt................. -18,800
Total Unsecured debt.................... -1,300
Net Assets.............................. -8,100
Created using the SOA calculator at www.makesenseofcards.com.


THIS is forgetting the 105 a month loan my mother took out for me when i was in dire needs, they would not count that as she is not a creditor??

Some things will be low or non-existent on there as i live with mum but point out anything to me.

NC-Clio

Anyone have any advice on that?

nervousmother

NC-Clio wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 4
Number of children in household......... 2
Number of cars owned.................... 4
Monthly Income Details
Monthly income after tax................ 1000
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1000
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 175 what is this secured on?
Hire Purchase (HP) repayments........... 225 what is this for?
Rent.................................... 200 350 if includes food & all bills
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 25
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 50
Petrol/diesel........................... 50
Road tax................................ 13
Car Insurance........................... 75
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 12 10
Entertainment........................... 0
Holiday................................. 20 30
Emergency fund.......................... 0
Total monthly expenses.................. 895

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2500
Other assets............................ 0
Total Assets............................ 2500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 8000.....(175)......0
Hire Purchase (HP) debt ...... 9500.....(225)......0<
hp on bike.....................1300......-.........0
Total secured & HP debts...... 18800.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
barclay card 1.................750.......26........0
carclay card 2.................550.......18........0
Total unsecured debts..........1300......44........-

Monthly Budget Summary
Total monthly income.................... 1,000
Expenses (including HP & secured debts). 895
Available for debt repayments........... 105
Monthly UNsecured debt repayments....... 44
Amount left after debt repayments....... 61
Personal Balance Sheet Summary
Total assets (things you own)........... 2,500
Total HP & Secured debt................. -18,800
Total Unsecured debt.................... -1,300
Net Assets.............................. -8,100
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.


THIS is forgetting the 105 a month loan my mother took out for me when i was in dire needs, they would not count that as she is not a creditor??

Some things will be low or non-existent on there as i live with mum but point out anything to me.

your mother is a creditor. What work do you do? do you not need internet for work? do you not use car parks? you need to explain what those secured loans and hp are for...

NC-Clio

The HP is for a car and a push bike, the loan is not secured i just realised.

I will ammend these details then up the figures you have told me to.

That will then put me at spending more a month than i earn.

Think that makes it clear what i have to do?

I work as an air conditioning engineer, have full use of a van, also for as many personal mileage usage as i want.

nervousmother

You may end up loosing the Car if its on HP, you need to check your agreement.
It may be a better option to give it back to the company and spend 1k or so getting another car to get to work. I dont think the OR would look kindly to you spending that money on the HP payments either...
I think you sill end up with a IPA of about £200 a month..

nervousmother

sorry just read the last bit of your post, if you have full use of a works van then you may not be able to keep any car, nor claim for one. You live with your mum? are you single? any children (what you know about!) that you support in any way?

NC-Clio

nothing just me, i will save up and buy a cheap car no kid i dont think and a 200 ipa will be fine as long as i am out of debt!!!!

NC-Clio

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 4
Number of children in household......... 2
Number of cars owned.................... 4
Monthly Income Details
Monthly income after tax................ 976
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1000
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 175 unsecured dont know where it goes though
Hire Purchase (HP) repayments........... 225 car and push bike
Rent.................................... 350
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 25
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 50
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 30
Emergency fund.......................... 0
Total monthly expenses.................. 885

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2500
Other assets............................ 0
Total Assets............................ 2500

Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 8000.....(175)......0
Hire Purchase (HP) debt ...... 9500.....(225)......0<
hp on bike.....................1300......-.........0
Total secured & HP debts...... 18800.....-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
barclay card 1.................750.......26........0
carclay card 2.................550.......18........0
Total unsecured debts..........1300......44........-

Monthly Budget Summary
Total monthly income.................... 1,000
Expenses (including HP & secured debts). 895
Available for debt repayments........... 105
Monthly UNsecured debt repayments....... 44
Amount left after debt repayments....... 47
Personal Balance Sheet Summary
Total assets (things you own)........... 2,500
Total HP & Secured debt................. -18,800
Total Unsecured debt.................... -1,300
Net Assets.............................. -8,100

On top of that i owe my mum 105 a month as well.

Do i put that anywhere, but other than that ammendments have been made.

Still a few things in wrong category as i am unsure on unsecured etc.

So_Sad_Angel

NC-Clio wrote: »

nothing just me, i will save up and buy a cheap car no kid i dont think and a 200 ipa will be fine as long as i am out of debt!!!!

Hi NC-Clio

Bit confused ( not difficult believe me!!) but SOA shows 4 adults, 2 kids & 4 cars....thats not right surely!!

Anything unsecured will go into BR ( ie will include the 175 showed on soa that you have noted as unsecured)

Check out the HP to see if BR has an effect on the agreement.

I`d add your contribution to internet, monthly utilities & food etc in your soa.

Angiexx

NC-Clio

In my household as i live with parents is, mum dad, me (21) sister (18) and brother and sister (14+12).

4 adults and 2 children?