Where can I get help with SOA / Redundancy

crum

Sorry, Crum here again....

I'm just a little nipper still ahhhhh

Reading other peoples lists of what they are declaring they are paying out to the SOA form I'm completing is confusing me Such as the list on help with SOA posted by Goldie100

Where can I go to get help completing the forms?

I was made redundant with a pay out of £3700, and a bonus due of £800 next month. I'm told the court can ask what I've spent lump sums received on for the last 5years..... Well i haven't spent all of it, some has been put out of my reach what could I possibly give as an excuse for it's dispearence? I now live with my parents with the repossession of my house slowly going through so it's not like I could say I bought essential household appliances? Is going on a holiday and just having days out a good thing to be saying?

Thanks again

Little Crum

So_Sad_Angel

Hi Crum

I would say with SOA...just post & let us see what your outgoings are. Even living with parents you will be making contribution to household outgoings & these need to be shown. SOA link as below...remember to complete & then click on MSE version.

https://www.makingsenseofcards.co.uk

In terms of your redundancy payment then the OR will insist on knowing where this has been used/invested. If it has been used for essential outgoings / BR costs then this is acceptable.

All monies can be traced & the OR will claim them & could impose a BR restriction (BRO) on you if they think you have tried to `hide` funds. It really is not worth it.

Hope that helps....I look forwad to seeing your SOA.

Take care, Angiexx

crum

Monthly Income Details
Monthly income after tax................ 1148 (at a guess as I don't start this job till next week)
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1148
Monthly Expense Details[/b]
Mortgage................................ 1069 (not been paid for a year)
Secured/HP loan repayments.............. 0
Rent.................................... 340 (live with parents)
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 20
Mobile phone............................ 0
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 100
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 32
Car maintenance (including MOT)......... 0 (see comments below)
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0 (what sort of amount can i include?)
Pet insurance/vet bills................. 10 (can I include pet food? and is £10 a month too much or too little?)
Buildings insurance..................... 0 (house isn't insured, bit risky!)
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 (what sort of amount can I include?)
Haircuts................................ 10 (is this ok?)
Entertainment........................... 0 (what sort of amount can I include?)
Holiday................................. 0 (what sort of amount can I include?)
Emergency fund.......................... 0
Total monthly expenses.................. 1481

Assets
Cash.................................... 0
House value (Gross)..................... 150000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 150000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 187000...(1069).....7.69
Total secured & HP debts...... 187000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
loan...........................15000.....338.......12.4
lease plan.....................19000.....249.......0
overdrafts x 2.................2120......0.........0
loan...........................1710......59........0
catalogue......................190.......30........0
Total unsecured debts..........38020.....676.......-

Monthly Budget Summary
Total monthly income.................... 1,148
Expenses (including HP & secured debts). 1,481
Available for debt repayments........... -333
Monthly UNsecured debt repayments....... 676
Amount short for making debt repayments. -1,009
Personal Balance Sheet Summary
Total assets (things you own)........... 150,000
Total HP & Secured debt................. -187,000
Total Unsecured debt.................... -38,020
Net Assets.............................. -75,020



All of my loans etc are not being paid anyone... although up until last month I was paying the 2 overdrafts & smallest loan.
I have approx £1000 remaining of my redundancy, but when I visited my solicitor last year she said it doesn't matter if you spend it all because it's before bankruptcy. At that time it wasn't an option anyway. A fair bit was used for petrol, travelling to work, and back and forth to house just to keep a check on it. Other than that I went on quite a few days out (deprived of fun for 5 years!!!!!!! but looks like this might come back in my face?)
A good part of the £1k will be used this month as I'm unemployment and my first payment at new job isn't for over a month.
£800 I'm getting will be towards court fee's so at least that's something accounted for.

I don't really know what I spend on food?? but is £100 reasonable?

My parents have kindly lent me their car (left them out of pocket coz it was supposed to be traded in for their new one) but on the basis I pay tax, mot, repairs, ins, while I have it. Can I include these costs even though it's not actually my car?

Petrol costs - my new work will be in the same town so I'm guessing this cannot be used? I travel 14 miles most days to my new partners but this will be classed as pleasure? The only other time I could claim I need it is to drop my nan to her 'woman's club' once a week as she can hardly get 2 steps without having to take a breather)

Thanks again...!

philnicandamy

crum wrote: »

Monthly Income Details
Monthly income after tax................ 1148 (at a guess as I don't start this job till next week)
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1148
Monthly Expense Details[/b]
Mortgage................................ 1069 (not been paid for a year)
Secured/HP loan repayments.............. 0
Rent.................................... 340 (live with parents)
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0 (do you pay anything towards bills?)
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 20
Mobile phone............................ 0
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 100
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 32
Car maintenance (including MOT)......... 0 (see comments below) even though its not your vehicle your still allowed to contribute to running costs
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0 (what sort of amount can i include?) allowed at least £10 a month
Pet insurance/vet bills................. 10 (can I include pet food? and is £10 a month too much or too little?) Usually allowed £20 for pets
Buildings insurance..................... 0 (house isn't insured, bit risky!) you need some ASAP
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 (what sort of amount can I include?) Usually? none....the OR would refuse
Haircuts................................ 10 (is this ok?) Yep
Entertainment........................... 0 (what sort of amount can I include?) Your allowed NOTHING for entertainment....
Holiday................................. 0 (what sort of amount can I include?) if its only for you at least £20 or so a month
Emergency fund.......................... 0
Total monthly expenses.................. 1481

Assets
Cash.................................... 0
House value (Gross)..................... 150000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 150000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 187000...(1069).....7.69
Total secured & HP debts...... 187000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
loan...........................15000.....338.......12.4
lease plan.....................19000.....249.......0
overdrafts x 2.................2120......0.........0
loan...........................1710......59........0
catalogue......................190.......30........0
Total unsecured debts..........38020.....676.......-

Monthly Budget Summary
Total monthly income.................... 1,148
Expenses (including HP & secured debts). 1,481
Available for debt repayments........... -333
Monthly UNsecured debt repayments....... 676
Amount short for making debt repayments. -1,009
Personal Balance Sheet Summary
Total assets (things you own)........... 150,000
Total HP & Secured debt................. -187,000
Total Unsecured debt.................... -38,020
Net Assets.............................. -75,020



All of my loans etc are not being paid anyone... although up until last month I was paying the 2 overdrafts & smallest loan.
I have approx £1000 remaining of my redundancy, but when I visited my solicitor last year she said it doesn't matter if you spend it all because it's before bankruptcy. At that time it wasn't an option anyway. A fair bit was used for petrol, travelling to work, and back and forth to house just to keep a check on it. Other than that I went on quite a few days out (deprived of fun for 5 years!!!!!!! but looks like this might come back in my face?)
A good part of the £1k will be used this month as I'm unemployment and my first payment at new job isn't for over a month.
£800 I'm getting will be towards court fee's so at least that's something accounted for.

I don't really know what I spend on food?? but is £100 reasonable?

My parents have kindly lent me their car (left them out of pocket coz it was supposed to be traded in for their new one) but on the basis I pay tax, mot, repairs, ins, while I have it. Can I include these costs even though it's not actually my car?

Petrol costs - my new work will be in the same town so I'm guessing this cannot be used? I travel 14 miles most days to my new partners but this will be classed as pleasure? The only other time I could claim I need it is to drop my nan to her 'woman's club' once a week as she can hardly get 2 steps without having to take a breather)

Thanks again...!

Just a few thoughts

crum

Thanks for your comments philnicandamy

Still would like some help with..........

I was made redundant with a pay out of £3700, and a bonus due of £800 next month. I'm told the court can ask what I've spent lump sums received on for the last 5years..... Well i haven't spent all of it, some has been put out of my reach what could I possibly give as an excuse for it's dispearence? I now live with my parents with the repossession of my house slowly going through so it's not like I could say I bought essential household appliances? Is going on a holiday and just having days out a good thing to be saying?

As So Sad Angel said, its not worth hiding it, what about what I've willy nilly spent? a long weekend in norfolk in a chalet which actually turned out to be quite expensive

many thanks

So_Sad_Angel

Hi Crum

I would definately say that a holiday in Norfolk would not be classed as extravagant....I mean its not exactly 2 weeks all inclusive in the Maldives is it ? Just be honest ....money does dwindle with everyday expenses & as you have managed to save some then that shows that you are responsible enough not to spend the lot on frivolities.

Do however make sure that you continue to pay your parents board as even the OR will realises you can`t live for nothing & if this comes from your lump sum then so be it.

Angiex