SOA - please have a look-thank-you

pmg19680

Hi everyone,
Just posted this on the wrong forum so here it is again. Can you please have a look and tell me how much of a disaster it is ? Really don't want an IPA

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................ 700
Partners monthly income after tax....... 1300
Benefits................................ 413.6
Other income............................ 0
Total monthly income.................... 2413.6

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 760
Management charge (leasehold property).. 0
Council tax............................. 131
Electricity............................. 85
Gas..................................... 85
Oil..................................... 0
Water rates............................. 65
Telephone (land line)................... 35
Mobile phone............................ 25
TV Licence.............................. 12
Satellite/Cable TV...................... 21.5
Internet Services....................... 15
Groceries etc. ......................... 600
Clothing................................ 95
Petrol/diesel........................... 100
Road tax................................ 15
Car Insurance........................... 36
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 114
Childcare/nursery....................... 0
Other child related expenses............ 8
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 7
Presents (birthday, christmas etc)...... 20
Haircuts................................ 35
Entertainment........................... 0
Holiday................................. 25
Emergency fund.......................... 0
Total monthly expenses.................. 2329.5


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 1500

No Secured nor Hire Purchase Debts

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


Monthly Budget Summary
Total monthly income.................... 2,413.6
Expenses (including HP & secured debts). 2,329.5
Available for debt repayments........... 84.1
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 84.1

Personal Balance Sheet Summary
Total assets (things you own)........... 1,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 1,500

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

EnslavedByDebts

PMG is this your SOA or a joint one?

EBD

beentheredonethatstilhere

pmg19680 wrote: »

Hi everyone,
Just posted this on the wrong forum so here it is again. Can you please have a look and tell me how much of a disaster it is ? Really don't want an IPA Did you put it on DFW? Bet that was interesting

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................ 700
Partners monthly income after tax....... 1300
Benefits................................ 413.6
Other income............................ 0
Total monthly income.................... 2413.6

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 760
Management charge (leasehold property).. 0
Council tax............................. 131
Electricity............................. 85
Gas..................................... 85
Oil..................................... 0
Water rates............................. 65
Telephone (land line)................... 35
Mobile phone............................ 25
TV Licence.............................. 12
Satellite/Cable TV...................... 21.5 Not allowed on your SOA will have to come from surplus.
Internet Services....................... 15 ditto unless essential for work or DC's homework
Groceries etc. ......................... 600
Clothing................................ 95 £130
Petrol/diesel........................... 100
Road tax................................ 15
Car Insurance........................... 36
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 114 what is this?
Childcare/nursery....................... 0
Other child related expenses............ 8 £5 per child per week for activity. £2 primary and £3 secondary dinner money.
Medical (prescriptions, dentist etc).... 0 £20
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 7 what is this?
Presents (birthday, christmas etc)...... 20 some OR's will allow, some won't. Leave and see.
Haircuts................................ 35
Entertainment........................... 0
Holiday................................. 25 £80
Emergency fund.......................... 0
Total monthly expenses.................. 2329.5


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 1500

No Secured nor Hire Purchase Debts

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


Monthly Budget Summary
Total monthly income.................... 2,413.6
Expenses (including HP & secured debts). 2,329.5
Available for debt repayments........... 84.1
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 84.1

Personal Balance Sheet Summary
Total assets (things you own)........... 1,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 1,500

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

I have made some suggestions. Have a play with the figures till you balance.

Is it both of you going bankrupt?

pmg19680

Hi ,
beenthere- Yes it is both of us going bankrupt on Thurs. Thanks for looking at soa - the internet thing - kids need it for college and school gcse's - do you think might get away with it?
Other travel is school bus fairs ( unbelievable cost!)
I don't have to pay for dentist etc with tax credits (mind you, I have got a feeling that will now stop as I am only receiving child tax creds whereas before was getting working tax as well.
The £7.00 insurance is breakdown cover for my washing machine. Do you think they will allow it?
Holiday - Do you think I should increase then? was unsure what to put in here.
EBD -I have only put mine up but put the full net pays in not the percentage (is that right or do I put the figures in that you told me)
Sorry to be a pain

EnslavedByDebts

If you need to put the full net pays in then do so, i had to on my SOA for bankruptcy due to needing too plus the OR told me too!!!!

If you don't then do the percentages of net wages. I have looked and i think you need to put full net wages in as otherwise you will be in a deficit. You can tweak around as beenthere has said just be aware that if the OR reduces anything like they reduced my phone allowance from 60 to 40 as they said 60 to high then you maybe over the £99 surplus

EBD

EnslavedByDebts

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................ 700
Partners monthly income after tax....... 1300
Benefits................................ 413.6
Other income............................ 0
Total monthly income.................... 2413.6

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 760
Management charge (leasehold property).. 0
Council tax............................. 131
Electricity............................. 85
Gas..................................... 85
Oil..................................... 0
Water rates............................. 65
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 15?
Groceries etc. ......................... 600
Clothing................................ 100
Petrol/diesel........................... 100
Road tax................................ 15
Car Insurance........................... 36
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 114? what is this (if it is travel for when OH using car then put car on one SOA and the travel expenses on other SOA)
Childcare/nursery....................... 0
Other child related expenses............ 60
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0 won't allow washing machine insurance
Presents (birthday, christmas etc)...... 20
Haircuts................................ 25
Entertainment........................... 0
Holiday................................. 80
Emergency fund.......................... 0
Total monthly expenses.................. 2403



Monthly Budget Summary
Total monthly income.................... 2,413.60
Expenses (including HP & secured debts). 2,403.00
Available for debt repayments........... 10.60
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 84.1

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


I have highlighted the changes for you

pmg19680

Thanks very much both of you. :A I will have a mess around with it.;)

beentheredonethatstilhere

EBD the other travel is school buses for the kids.

PMG make sure you note on your SOA that is what it is. Leave internet in.

EnslavedByDebts

beenthere, should pmg then reduce her OH's contribution by the £114 and leave of as pmg has put the whole net income as partners contribution?

That whay no way of having it excluded?

EBD

pmg19680

Hi,
Am I right in thinking that although the soa says there is a surplus £84, do they have to disregard the £186 child benefit when working out an IPA?

beentheredonethatstilhere

That sounds like a good idea. Have the car travel expenses on DH's and childs on hers.

Right off to change nappies, will pop in later tonight.