My SOA

About_Time_3

Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 2000
Partners monthly income after tax....... 250
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2250

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 585
Management charge (leasehold property).. 0
Council tax............................. 110
Electricity............................. 45
Gas..................................... 50
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 0
Mobile phone............................ 30
TV Licence.............................. 10
Satellite/Cable TV...................... 20
Internet Services....................... 15
Groceries etc. ......................... 200
Clothing................................ 30
Petrol/diesel........................... 70
Road tax................................ 18
Car Insurance........................... 60
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 10
Buildings insurance..................... 0
Contents insurance...................... 30
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 20
Total monthly expenses.................. 1383


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 3500
Other assets............................ 0
Total Assets............................ 3500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Credit card....................10000.....300.......0
Credit card....................5000......145.......0
Credit card....................2500......70........0
Credit Card....................1500......35........0
Loan...........................5000......145.......0
Store card.....................600.......35........0
Car loan.......................9000......285.......0
Loan...........................24000.....285.......0
Total unsecured debts..........57600.....1300......-


Monthly Budget Summary
Total monthly income.................... 2,250
Expenses (including HP & secured debts). 1,383
Available for debt repayments........... 867
Monthly UNsecured debt repayments....... 1,300
Amount short for making debt repayments. -433

Personal Balance Sheet Summary
Total assets (things you own)........... 3,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -57,600
Net Assets.............................. -54,100

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

I'm going to make an appointment for the bankruptcy tomorrow, I also get paid tomorrow but need some money to pay the fees, I should stop all of my non essential direct debits from going out this month right? One of the loans is with the same bank my current account is with, If I canceled the standing order for the loan would they take the money anyway? If so I'll need to withdraw everything and pay my rent and bills in cash over the weekend. I'm starting to get very nervous now the time has come to actually do something about my situation

philnicandamy

About_Time wrote: »

Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 2000
Partners monthly income after tax....... 250
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2250

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 585
Management charge (leasehold property).. 0
Council tax............................. 110
Electricity............................. 45
Gas..................................... 50
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 0
Mobile phone............................ 30
TV Licence.............................. 10
Satellite/Cable TV...................... 20 Usually NOT allowed would have to come from any surplus..
Internet Services....................... 15 NOT allowed unless for work/education (lump this with "telephone" & see...
Groceries etc. ......................... 200
Clothing................................ 30
Petrol/diesel........................... 70
Road tax................................ 18
Car Insurance........................... 60
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 10 £20
Buildings insurance..................... 0
Contents insurance...................... 30 does this have accidental damage cover?
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 20 usually NOT allowed but leave it & see
Total monthly expenses.................. 1383


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 3500
Other assets............................ 0
Total Assets............................ 3500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Credit card....................10000.....300.......0
Credit card....................5000......145.......0
Credit card....................2500......70........0
Credit Card....................1500......35........0
Loan...........................5000......145.......0
Store card.....................600.......35........0
Car loan.......................9000......285.......0
Loan...........................24000.....285.......0
Total unsecured debts..........57600.....1300......-


Monthly Budget Summary
Total monthly income.................... 2,250
Expenses (including HP & secured debts). 1,383
Available for debt repayments........... 867
Monthly UNsecured debt repayments....... 1,300
Amount short for making debt repayments. -433

Personal Balance Sheet Summary
Total assets (things you own)........... 3,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -57,600
Net Assets.............................. -54,100

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

I'm going to make an appointment for the bankruptcy tomorrow, I also get paid tomorrow but need some money to pay the fees, I should stop all of my non essential direct debits from going out this month right? One of the loans is with the same bank my current account is with, If I canceled the standing order for the loan would they take the money anyway? If so I'll need to withdraw everything and pay my rent and bills in cash over the weekend. I'm starting to get very nervous now the time has come to actually do something about my situation

Yep..stop all NON prority debt payments...make sure you continue rent/water/gas/elec/tv license....Hmm with the loan the bank still may try to claw the cash back...take any cash you can leave just enough to cover the priority bills & open a co-op cashminder acc soon as you can

Is they car on HP or finance? if paid for the OR may take an interest in a car worth £3000...

Holes_in_my_pocket

someone with more idea will shortly answer but i think you can double food and clothing and put mobile internet onto just phone £60

About_Time_3

I went to open a cashminder a week last Saturday, they said I'd hear within ten working days, it's the tenth day tomorrow and I've heard nothing, I was hoping to get everything moved to that before payday tomorrow. the car I'm not too fussed about, it's going to need a fair bit of money spending on it soon, I do need a car to do my job though, although I don't need one for any other reason, I work within walking distance, but I visit other sites regularly, can you see the OR letting me keep the car, or give me something for another one?

philnicandamy

About_Time wrote: »

I went to open a cashminder a week last Saturday, they said I'd hear within ten working days, it's the tenth day tomorrow and I've heard nothing, I was hoping to get everything moved to that before payday tomorrow. the car I'm not too fussed about, it's going to need a fair bit of money spending on it soon, I do need a car to do my job though, although I don't need one for any other reason, I work within walking distance, but I visit other sites regularly, can you see the OR letting me keep the car, or give me something for another one?

it all depends.....is the car all yours bought & paid for?
if it is the OR may seize a car worth so much...BUT if that did happen they would give you an allowance to replace the car with something cheaper....all helps with working as well

give the co-op a ring & see what they say

About_Time_3

Thanks Philnicandamy, the car is on unsecured finance.

philnicandamy

ahh...if its unsecrued finance..check the finance documents etc for a bankruptcy clause (the company may take the car if there is one)
all depends as well on how much you still owe

McKneff

Your contents insurance is astonimcal.
My buildings and contents insurance combines is only £220 per annum. Fully comp, accidental damage, possessions away from the home and £50 excess. 3 bedroomed semi.