Could SOA experts please check?

northernmonkey0_0

I have posted this elsewhere, so i'll link to it. (unable to link being a new user)
Post is entitled " A Few Q's, Got my date..."

sorry for the seperate thread but was worried it may get missed.

TIA

So_Sad_Angel

Hi Northernmonkey

Can you copy & paste it over here???

Thanks, Angiex

northernmonkey0_0

By all means Angie, thanks for taking the time! I'm sure it will need tweaking though! (or maybe even re-doing completely!)

Thanks everyone for your help so far. I don't really understand this so if someone could help, that'll be great. What i've done, is due to the fact that we have a joint account, get paid on the same day, i just halved everything down the middle (except wages) all house bills anyway!

If people think i'm going over the top on things, or not enough on others, then please feel free to alter it, a the end of the day, we want a little hassle from the OR as poss!

Many Thanks.

Mine:
Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 2021
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2021

Monthly Expense Details
Mortgage................................ 383
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 60
Electricity............................. 27
Gas..................................... 15
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 17.5
Mobile phone............................ 40
TV Licence.............................. 6
Satellite/Cable TV...................... 32.5
Internet Services....................... 5
Groceries etc. ......................... 200
Clothing................................ 30
Petrol/diesel........................... 50
Road tax................................ 20
Car Insurance........................... 30.65
Car maintenance (including MOT)......... 50
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 100
Other child related expenses............ 100
Medical (prescriptions, dentist etc).... 50
Pet insurance/vet bills................. 20
Buildings insurance..................... 7
Contents insurance...................... 7
Life assurance ......................... 10
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 10
Entertainment........................... 50
Holiday................................. 30
Emergency fund.......................... 30
Total monthly expenses.................. 1435.65


Assets
Cash.................................... 0
House value (Gross)..................... 65000
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 65800


Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 69000....(383)......0
Total secured & HP debts...... 69000.....-.........-

Unsecured Debts
Description....................Debt......Monthly.. .APR
All Debt.......................29764.8...0.........0
Total unsecured debts..........29764.8...0.........-


Monthly Budget Summary
Total monthly income.................... 2,021
Expenses (including HP & secured debts). 1,435.65
Available for debt repayments........... 585.35
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 585.35

Personal Balance Sheet Summary
Total assets (things you own)........... 65,800
Total HP & Secured debt................. -69,000
Total Unsecured debt.................... -29,764.8
Net Assets.............................. -32,964.8


Other Half's:


Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 770
Partners monthly income after tax....... 0
Benefits................................ 80
Other income............................ 10
Total monthly income.................... 860

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 60
Electricity............................. 27
Gas..................................... 20
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 10
Mobile phone............................ 35
TV Licence.............................. 6
Satellite/Cable TV...................... 32.5
Internet Services....................... 5
Groceries etc. ......................... 200
Clothing................................ 30
Petrol/diesel........................... 50
Road tax................................ 20
Car Insurance........................... 22.18
Car maintenance (including MOT)......... 50
Car parking............................. 5
Other travel............................ 0
Childcare/nursery....................... 100
Other child related expenses............ 50
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 20
Buildings insurance..................... 7
Contents insurance...................... 7
Life assurance ......................... 10
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 10
Entertainment........................... 50
Holiday................................. 30
Emergency fund.......................... 30
Total monthly expenses.................. 951.68


Assets
Cash.................................... 0
House value (Gross)..................... 65000
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 65500


Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 68000....(0)........0
Total secured & HP debts...... 68000.....-.........-

Unsecured Debts
Description....................Debt......Monthly.. .APR
All Debt.......................19758.2...0.........0
Total unsecured debts..........19758.2...0.........-


Monthly Budget Summary
Total monthly income.................... 860
Expenses (including HP & secured debts). 951.68
Available for debt repayments........... -91.68
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -91.68

Personal Balance Sheet Summary
Total assets (things you own)........... 65,500
Total HP & Secured debt................. -68,000
Total Unsecured debt.................... -19,758.2
Net Assets.............................. -22,258.2

So_Sad_Angel

Hi there

Thanks for doing that....are you both seperate finances or joint?

If sole then have you taken advice from one of the debt charities?...see top toolbar. The first SOA would appear to give you further options as you have a good surplus. The second shows deficit & be insolvent.

It is difficult as well as there is a big difference in salary levels & yet monthly bills have been halved instead of say 1/3rd 2/3rds split.

Keep posting as this lifts your thread up the board to get best exposure....hopefully others will be able to offer more options than I can.

Night, Angiex

beentheredonethatstilhere

will have a look in the morning for you, dealing with screaming babies at the moment.

northernmonkey0_0

no worries thanks, like i said, the debts are some indiviual, some joint but we are ties into the mortgage etc togther, i don't know the best way for working the figures!

dalip

Can i ask who has advised you to go bc please?.
Are you both going bc?

northernmonkey0_0

I first took advice from national debtline when the iva was going through. That has now failed. I thought br was my only option left to get this sorted now.

What would you advise then, OH goes Br and I try to work out a DMP or something? Can I still do a DMP after having a failed IVA?

dalip

To be honest i am not sure but even when i looked at upping your allowances you still have a large surplus. Which would mean a IPA for 3 years.

Maybe contact another debt charity such as ccc's or your local cab to get another view.BC is not to be rushed and you need to get as much info as possible to make sure it's the right choice for you.

When you do a SOA you put the full household expenses on both yours and your OH's,then add your own personal expenses like the car on yours(if it belongs and gets used by you)then travel on your OH.

On your SOA her CONTRIBUTION tothe household exp would be about a third (based on a % of your income)whilst your CONTRIBUTION on her SO would be three thirds. I am i confusing you?
Sorry do not mean to. They are so hard to get right when both are going bc.Dx

northernmonkey0_0

To be honest, yeah I'm confused!

Working till 4 and can't get an appointment at cab.

So working on the fact I ahve split the bills down the middle, except the cars my OH wouldn't even have enough to pay the mortgage???

I know it's asking alot, but given the figures, could you post what our SOA should look like and give us an idea of surplus etc? I'm thinking maybe her going BR and me seeing if we can work out a DMP?

northernmonkey0_0

Bump as I'm going grey with worry, literally!