OH's SOA! Do I need to include my benefit earnings?

Bluebelle72

Here is the SOA I have prepared for my OH would you great guys mind giving it the once over for me, I'm a little confused as to what to put for my earnings, if OH is going BR do I list my income (which is only child tax credit and child benefit and child maintenance) On this form I've included it just in case Although doing so does show we have a lot left over! I obviously have debts of my own and would be needing the cash to pay them! My income is under partners income,

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1560
Partners monthly income after tax....... 560
Benefits................................ 0
Other income............................ 26
Total monthly income.................... 2146

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 400
Management charge (leasehold property).. 0
Council tax............................. 110
Electricity............................. 90
Gas..................................... 70
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 30
Mobile phone............................ 30
TV Licence.............................. 10
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 580
Clothing................................ 100
Petrol/diesel........................... 80
Road tax................................ 15
Car Insurance........................... 30
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 40
Total monthly expenses.................. 1735


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 900
Other assets............................ 0
Total Assets............................ 900

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 2,146
Expenses (including HP & secured debts). 1,735
Available for debt repayments........... 411
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 411

Personal Balance Sheet Summary
Total assets (things you own)........... 900
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 900

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

dottydora

I'm definately no expert but - you could probably up your housekeeping and hair cuts a bit and add for holidays. I was allowed £70 for hols, £30 for haircuts and £700 for housekeeping for 3 adults (1 dependant 18 year old in full time education) and 2 children.

Bluebelle72

crikey thanks dotty! xxx

dottydora

I didn't think they would go for it but the insolvency practioner we saw told us to try and said they could only say no! The OR didn't even discuss the soa with us when she rang, only to say that sky (IP told my husband to include) and pet insurance would not be allowed but could be kept anyway out of our surplus as even if we cancelled it there still wouldn't be enough surplus for IPA.

Bluebelle72

bumping this up sorry

dalip

Bluebelle72 wrote: »

Here is the SOA I have prepared for my OH would you great guys mind giving it the once over for me, I'm a little confused as to what to put for my earnings, if OH is going BR do I list my income (which is only child tax credit and child benefit and child maintenance) On this form I've included it just in case Although doing so does show we have a lot left over! I obviously have debts of my own and would be needing the cash to pay them! My income is under partners income,

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1560
Partners monthly income after tax....... 560you only put your CONTRIBUTION not your actual total income,if you are only on benefits i would be inclined to make the contribution minimal;)
Benefits................................ 0
Other income............................ 26? this is ?
Total monthly income.................... 2146

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 400
Management charge (leasehold property).. 0
Council tax............................. 110
Electricity............................. 90bit high
Gas..................................... 70
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 30
Mobile phone............................ 30
TV Licence.............................. 10£12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 580try for £600-£650
Clothing................................ 100try for £150
Petrol/diesel........................... 80bit low
Road tax................................ 15
Car Insurance........................... 30
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0allowed £5 per child per wk for aftr school ativities
Medical (prescriptions, dentist etc).... 0£20,if wearing glasses go for £30
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40put this in hildays and make it £60
Haircuts................................ 20£35
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 40might not allow this but leave it and see
Total monthly expenses.................. 1735


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 900
Other assets............................ 0
Total Assets............................ 900

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 2,146
Expenses (including HP & secured debts). 1,735
Available for debt repayments........... 411
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 411

Personal Balance Sheet Summary
Total assets (things you own)........... 900
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 900

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

Sorry if i have got it wrong but i am assuming only your OH is going bc?.

Hope that helps and the others will add their bit.Dx

lisamummytoarchieplusbump

Bluebelle72 wrote: »

Here is the SOA I have prepared for my OH would you great guys mind giving it the once over for me, I'm a little confused as to what to put for my earnings, if OH is going BR do I list my income (which is only child tax credit and child benefit and child maintenance) On this form I've included it just in case Although doing so does show we have a lot left over! I obviously have debts of my own and would be needing the cash to pay them! My income is under partners income,

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1560
Partners monthly income after tax....... 560
Benefits................................ 0
Other income............................ 26
Total monthly income.................... 2146

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 400
Management charge (leasehold property).. 0
Council tax............................. 110
Electricity............................. 90
Gas..................................... 70
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 30
Mobile phone............................ 30
TV Licence.............................. 10 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 580 650+
Clothing................................ 100
Petrol/diesel........................... 80
Road tax................................ 15
Car Insurance........................... 30
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0 try about 50 as you can have £5 per child per week
Medical (prescriptions, dentist etc).... 0 no meds?
Pet insurance/vet bills................. 0 no pets?
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40
Haircuts................................ 20 35
Entertainment........................... 0
Holiday................................. 0 80+ put emergency money in with this as some dont allow it
Emergency fund.......................... 40 try 20
Total monthly expenses.................. 1735

others will be along to tweek in abit

dalip

Snap lisa:DGlad to see we almost agree:rotfl:

Bluebelle72

Thank you Lisa and dalip so very much, I have redone the SOA taking your suggestions into account although now theres a deficit what do I do now?! LOL xx

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1560
Partners monthly income after tax....... 100
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1660

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 400
Management charge (leasehold property).. 0
Council tax............................. 110
Electricity............................. 70
Gas..................................... 80
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 30
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 680
Clothing................................ 150
Petrol/diesel........................... 90
Road tax................................ 15
Car Insurance........................... 30
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 50
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 35
Entertainment........................... 0
Holiday................................. 100
Emergency fund.......................... 0
Total monthly expenses.................. 1972


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 900
Other assets............................ 0
Total Assets............................ 900

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 1,660
Expenses (including HP & secured debts). 1,972
Available for debt repayments........... -312
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -312

Personal Balance Sheet Summary
Total assets (things you own)........... 900
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 900

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

missymugwump

Where the bankrupt is in receipt of benefit and other income, and has surplus income above that required to meet his/her reasonable domestic needs, the official receiver should still consider the possibility of obtaining an income payments agreement.
Any calculation to identify surplus income should include all available income, including state benefits, which includes child tax credit.
The only exception to the inclusion of state benefits in an income payments calculation is where a bankrupt is in receipt of child benefit, which is not an income based benefit (unlike child tax credit).
It is the income from the sources other than the benefit(s) which is providing the payments under an IPA, so if the bankrupt is in receipt of benefits and has surplus income, an IPA contribution should only be sought to the extent of the non-benefit income.

Hope that makes sense
It reduces your surplus and the OR can only look at surplus to expenditure derived from earnt income

Bluebelle72

Hi missy It's my OH thats becoming BR not me! And I'm afraid you have totally lost me hun LOL, My brain hurts !! XX