Gaz's SOA (Edition 1)

VespaPX125

Righty ho - now to get ripped -

*** Petrol is for either car or scoot (car I can borrow sometimes, scoot if they let me keep it [OR]) - I work 20 miles from where I live (based on car diesel use - car I can borrow petrol)

*** Insurance for either of above depending what happens

*** May have to add about £240 if I lose scoot and need to get bus

*** Being a portly (but lovelly) 21 stone I am on a mega low carb diet (basically an extreme Atkins - lost 21kg in 7 weeks - was 24 stone) so I can't just buy rubbish - mainly meat and fish with zero carbs - means expensive to take food to work or buy in town - lots of cold chicken/ham/tuna etc Mon - Fri 9 - 5

*** Added cigs - well, you just need to don't yer - it will cost same for nicotine replacement anyway

*** I pay £420 a month inclusive of bills - cheap at half the price

*** My mobile contract should be £40 but always seems to be £53 for some reason (probably returning calls to creditors when they have left a message such as "it is imperitive you contact us, there has been an incident and we need you to call us immediately" - really a bad one when your OH is disabled and virtually bed ridden)

*** I have not included OH income as we are financially independant and I actually have no idea - She pays £900 a month for the bills (so, really, she pays £500 to my £420)

*** I have listed my scoot at it's scrap value of £250 as it is in 1000 bits at present and if they want to seize it it can be in 1500 - 2000 bits, they better bring a van

*** I am still waiting for confirmation of how much I will owe for returning the car might be a bit less


Statement of Affairs & Personal Balance Sheet

Summary

Monthly Budget SummaryAmount(£)Total monthly income1,200Monthly expenses (incl. HP & secured loans)993Available for debt repayments207UNsecured debt repayments900Amount short for making debt repayments-693

Personal Balance Sheet SummaryAmount(£)Total Assets (things you own)250Total Secured & HP Debt-0Total Unsecured Debt-32,500Net Assets-32,250
Income, Expense, Debt & Asset Details

IncomeAmount(£)Monthly income after tax1200Partners monthly income0Benefits0Other income0Total monthly income1200

ExpensesAmount(£)Mortgage0Secured/HP loan payments0Rent420Management charge (leasehold property)0Council tax0Electricity0Gas0Oil0Water Rates0Telephone (land line)0Mobile phone53TV Licence0Satellite/Cable TV0Internet services0Groceries etc.120Clothing30Petrol/diesel120Road tax0Car Insurance20Car maintenance (including MOT)20Car Parking0Other travel0Childcare/nursery0Other child related expenses0Medical (prescriptions, dentists, opticians etc.)25Pet Insurance/Vet bills20Buildings Insurance0Contents Insurance0Life Assurance0Other Insurance0Presents (birthday, christmas etc.)20Haircuts15Entertainment20Holiday40Emergency Fund30Cigarettes40Total monthly expenses993

Secured & HP Debt DescriptionDebt(£)Monthly(£)APR(%)Mortgage0(0) 0Secured & HP Debt totals0- -

Unsecured Debt DescriptionDebt(£)Monthly(£)APR(%)A&L Credit Card43002000HSBC Credit Card42001750Blackhorse Finance70001250Ford Credit50001750Liverpool Victoria120002250Unsecured Debt totals32500900-

Asset DescriptionValue (£)Cash0House Value (Gross)0Shares and bonds0Car(s)0Other assets (e.g. endowments, jewellery etc) 250Total Assets250
Comments on the results
You do not have enough monthly income to meet your expenses and your minimum monthly debt repayments. Seek ways to increase your income and/or reduce your expenditure by £693. Whatever your results show, it always pays to seek advice or comments from others. Why not post your SOA details on our Debt Management discussion board or on your preferred discussion forum elsewhere. Thankyou for using the SOA Calculator at www.makesenseofcards.com.


*** as my old grandad used to say "snarrrrffffrrrtttyyaasjjjjj" 'cos he was mental - no, he used to say "Gaz you charming chappy, always expect a kick in the b*ll*x so when you get just a slap in the face it's a bonus...."

If anyone has got anything else added, or been hit with a not back by the OR please feel free to add - all comments welcome but remember - this is not definitive and I'm not used to doing these, we live and learn

Holes_in_my_pocket

http://makesenseofcards.com/soacalc.html

This site will help writting you SAO its brillaint

Lensman_2

Holes_in_my_pocket wrote: »

http://makesenseofcards.com/soacalc.html

This site will help writting you SAO its brillaint

There is a button towards the bottom of the form called MSE. If you press it you will get a new window pop up that lets you copy and paste it to here with appropriate formatting already done for you.

tmcd01

Statement of Affairs & Personal Balance Sheet

Summary

Monthly Budget SummaryAmount(£)
Total monthly income1,200
Monthly expenses (incl. HP & secured loans)993
Available for debt repayments207
UNsecured debt repayments900
Amount short for making debt repayments-693

Personal Balance Sheet SummaryAmount(£)
Total Assets (things you own)250
Total Secured & HP Debt-0
Total Unsecured Debt-32,500
Net Assets-32,250
Income, Expense, Debt & Asset Details

IncomeAmount(£)
Monthly income after tax1200
Partners monthly income0
Benefits0
Other income0
Total monthly income1200

ExpensesAmount(£)
Mortgage0
Secured/HP loan payments0
Rent 420
Management charge (leasehold property)0
Council tax 0
Electricity 0
Gas 0
Oil 0
Water Rates 0
Telephone (land line) 0
Mobile phone 53 put this under general 'phone bill'
TV Licence0
Satellite/Cable TV 0
Internet services 0
Groceries etc.120 150
Clothing 30
Petrol/diesel 120
Road tax 0 Tax?
Car Insurance 20
Car maintenance (including MOT) 20
Car Parking 0
Other travel 0
Childcare/nursery 0
Other child related expenses 0
Medical (prescriptions, dentists, opticians etc.) 25
Pet Insurance/Vet bills 20
Buildings Insurance 0
Contents Insurance 0 Ha syour partner got this? If not then perhaps you should get it
Life Assurance 0
Other Insurance 0
Presents (birthday, christmas etc.)20
Haircuts 15
Entertainment 20
Holiday 40
Emergency Fund 30 Not normaaly allowed but leave and see
Cigarettes 40 Not normally allowed but leave and see
Total monthly expenses 993


Hi, made the layout a bit better for you, HTH

Tim

VespaPX125

Cheers

This SOA is from that site, I obviosly didn't quite copy it right...

I was wondering a couple of things...

Could I add a bit for all my guff - razors, smellies, soap etc - I know for the DMP they have a sundries section and it's normally about £15 - 20 a month

Should I mention that my scoot is Sorned or just wait and see if they ask (can plead stupid after all) and tell the OR I plan to use it as my normal transport for work - unless serious adverse weather then I can use car?

Do I need to list my ebay/PayPal account, I mainly buy stuff and sell the odd bit of tat - nothing more that £50 (ever)

5. Do I need to download donkey's years of bank statements or just last year or so and the account numbers, Also, do I hand the bank the cheque book and card back or keep for OR?

6. Same above but with credit card as they have requested I cut them up and send them back

Cheers my dears

*** Update - just won lottery - bl@@dy £10 :mad:

VespaPX125

Another thing, I assume my student loan will not be cleared by BR?

Should I tell OR about my essential car user and petrol expenses I will get in my new job, they aren't mentioned in the letter I got from the NHS as they are still in negotiation about the terms and amount?

Gaz W

philnicandamy

VespaPX125 wrote: »

Another thing, I assume my student loan will not be cleared by BR? You are correct it wont cancel out the student load

Should I tell OR about my essential car user and petrol expenses I will get in my new job, they aren't mentioned in the letter I got from the NHS as they are still in negotiation about the terms and amount? i'd be tempted to say mention it when you know what your getting
Gaz W

hope that helps a bit

peachyprice

You need to include the £900 that your OH contributes to the household where the BR forms ask for 'partners contribution' (they don't want or need to know the whole salary) and you need to include ALL household bills in full, so full rent, council tax, utilties, groceries etc.

HTH

VespaPX125

Cheers for replies -

I honestly have no idea what the individual bills amount to - I do know the last quarterly gas bill was £860 due to a defective valve that meant the hot water was perminantly on as she went mental.... the house is rather massive, with a large garden and larger garage so I suspect the bills will be silly but, if I just put £420 inclusive should cover me (I hope)

fiveyearplan

Vespa - have you sought any advice apart from on here? I know it is her house but you don't want to be deemed as having an interest in it - ie make sure you don't pay for maintenance, home improvements etc.

VespaPX125

I pay for nothing other than my board mate,