Could SOA experts please check?

beentheredonethatstilhere

EnslavedByDebts wrote: »

I have done the SOA's using the figures you had. Your partner's SOA is in a deficit so one of the more knowledgable folks will need to tell you where to alter it slightly. It maybe that you just up your part of the contribution but i am not quite sure.

If you need anymore help let me know

Your SOA

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....... 260
Benefits................................ 80
Other income............................ 0
Total monthly income.................... 2361
Monthly Expense Details
Mortgage................................ 764
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 120
Electricity............................. 70
Gas..................................... 60
Oil..................................... 0
Water rates............................. 50
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 450
Clothing................................ 80
Petrol/diesel........................... 70
Road tax................................ 20
Car Insurance........................... 31
Car maintenance (including MOT)......... 50
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 200
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 50
Pet insurance/vet bills................. 20
Buildings insurance..................... 14
Contents insurance...................... 20
Life assurance ......................... 20
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 25
Entertainment........................... 0
Holiday................................. 60
Emergency fund.......................... 30
Total monthly expenses.................. 2336


Monthly Budget Summary
Total monthly income.................... 2,361
Expenses (including HP & secured debts). 2,336
Available for debt repayments........... 25
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 25

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

Your Partners SOA

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....... 1350
Benefits................................ 80
Other income............................ 10
Total monthly income.................... 2210
Monthly Expense Details
Mortgage................................ 764
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 120
Electricity............................. 70
Gas..................................... 70
Oil..................................... 0
Water rates............................. 50
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 450
Clothing................................ 80
Petrol/diesel........................... 50
Road tax................................ 20
Car Insurance........................... 31
Car maintenance (including MOT)......... 50
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 200
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 20
Buildings insurance..................... 14
Contents insurance...................... 20
Life assurance ......................... 20
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 25
Entertainment........................... 0
Holiday................................. 60
Emergency fund.......................... 30
Total monthly expenses.................. 2286


Monthly Budget Summary
Total monthly income.................... 2,210
Expenses (including HP & secured debts). 2,286
Available for debt repayments........... -76
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -76

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

Hope this helps

EBD

EBD you are a star :A

I would drop presents and emergancy from your OH's SOA and up your contribution with the £25 you have left over on your SOA.

beentheredonethatstilhere

pmg19680 wrote: »

Hi ebd and nm,
I am also rubbish with figures on these soa's. Just a question - How come the mortgage etc is the same on both. I was under impression that it would be halved on each as joint. excuse me if I sound a little dim. Maths is my weak subject

You put the full household bills on both SOA's and the persons individual expenses on their own SOA's.

You put the full wages on your SOA and your OHs contribution to the joint household expenses.

beentheredonethatstilhere

northernmonkey0_0 wrote: »

Of course mate, and i'm sooooooooooooooooo grateful! I knew that i never had as much cash as what came up on paper but i couldn't get my head round it. This is still part of the learning process for me, most of the debts are 8 or 9 years old or older, and i've learnt to live within my means in the past few years.

One thing i still can't quite grasp the concept of though is the fact that we both put down that we are paying the full mortgage, or is that why we contribute to each other? That is why you contribute to each other.

Although i really really appriecate what EBD has done, if dalip or someone else knowledgable could cast an eye over too? Would i have to prove all the bills to the OR or as long as they ain't OTT do they take your word for it? I have made my comments on EBD's SOA for you. As long as the bills are not OTT and within what most people pay then they won't question it. Like your medical is high so you will have to provide something to explain why.

Many Many Many thanks yet again. :beer:

IPA, what IPA

pmg19680

Ok thanks beenthere, think I get it now. Just writing them in rough at min then I will av go at doing it properly.

EnslavedByDebts

beentheredonethatstilhere is the two SOA's correct?

Just so i know if anyone in future needs help.

Northern, when two people are going bankrupt the SOA's are confusing. The basic jist is (I think!!!) that you are paying the household expenses jointly so so long as you put the correct percentages of income on each others SOA's so in your instance 33% of your partners on your SOA and 66% of your wages on your partners SOA then it is correct.

If you were to do one SOA adding all the personal things from your SOA to all the personal things on your partners SOA then you should be at the same surplus.

It is really hard to explain but the full mortgage amount is correct to be on both SOA's.

I hope i haven't confused you with that but it is right

EnslavedByDebts

Northern do you want me to do those alteraltions beenthere has suggested to your partners SOA?

EnslavedByDebts

Your SOA

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....... 260
Benefits................................ 80
Other income............................ 0
Total monthly income.................... 2361
Monthly Expense Details
Mortgage................................ 764
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 120
Electricity............................. 70
Gas..................................... 60
Oil..................................... 0
Water rates............................. 50
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 450
Clothing................................ 80
Petrol/diesel........................... 70
Road tax................................ 20
Car Insurance........................... 31
Car maintenance (including MOT)......... 50
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 200
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 50
Pet insurance/vet bills................. 20
Buildings insurance..................... 14
Contents insurance...................... 20
Life assurance ......................... 20
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 25
Entertainment........................... 0
Holiday................................. 60
Emergency fund.......................... 30
Total monthly expenses.................. 2336


Monthly Budget Summary
Total monthly income.................... 2,361
Expenses (including HP & secured debts). 2,336
Available for debt repayments........... 25
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 25

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

Your Partners SOA

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....... 1375
Benefits................................ 80
Other income............................ 10
Total monthly income.................... 2235
Monthly Expense Details
Mortgage................................ 764
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 120
Electricity............................. 70
Gas..................................... 70
Oil..................................... 0
Water rates............................. 50
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 450
Clothing................................ 80
Petrol/diesel........................... 50
Road tax................................ 20
Car Insurance........................... 30
Car maintenance (including MOT)......... 50
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 200
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 20
Buildings insurance..................... 14
Contents insurance...................... 20
Life assurance ......................... 20
Other insurance......................... 0
Presents (birthday, christmas etc)...... 00
Haircuts................................ 25
Entertainment........................... 0
Holiday................................. 60
Emergency fund.......................... 0
Total monthly expenses.................. 2235


Monthly Budget Summary
Total monthly income.................... 2,235
Expenses (including HP & secured debts). 2,235
Available for debt repayments........... 0
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. 0

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

Hope this helps

EBD [/QUOTE]

beentheredonethatstilhere

EBD I have just spotted something, who are the benefits paid to? They belong on the SOA of the recipiant, not both SOAs.

NM can you let us know please.

EnslavedByDebts

Alterations made for you Northern. Now stop worrying about the SOA people will help you with the final one if you want to change what i did slightly

EBD:)

fiveyearplan

I would have thought the car expenses just go on one SOA too. Same with haircuts - one of you can put £15, the other £10 (because one can put down for the child).