SoA for DRO - New SOA Added in 1st Post - Pls Check

edited 1 June 2009 at 7:53PM in IVA & DRO
29 replies 1.3K views
Lostboy02Lostboy02 Forumite
35 Posts
edited 1 June 2009 at 7:53PM in IVA & DRO
Hi guys,

Could you please check my SOA , im hoping to go for a DRO through the CAB as soon as possible.

I am renting a flat with one other person, we are a couple but not serious, we do however have a joint bank account for paying some bills, water , gas ,elec etc. Its only my pay that goes into that account, she just gives me half the bill when required.

We dont share money or pool our salaries or anything like that, id assume that it will be only my earning taken into account.

All the payment amounts shown on the SOA are my half of the bills only

Thanks all
Statement of Affairs and Personal Balance Sheet

Monthly Income Details

Monthly income after tax................ 912
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 912


Monthly Expense Details

Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 255
Management charge (leasehold property).. 0
Council tax............................. 41
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 40
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 40
Petrol/diesel........................... 130
Road tax................................ 15
Car Insurance........................... 32
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 905



Assets

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


No Secured nor Hire Purchase Debts


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



Monthly Budget Summary

Total monthly income.................... 912
Expenses (including HP & secured debts). 905
Available for debt repayments........... 7
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 7


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


Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.
«13

Replies

  • elfiebelfieb Forumite
    530 Posts
    How much is your car worth?
    I used to be Snow White, but I drifted.
    Mae West
  • Lostboy02Lostboy02 Forumite
    35 Posts
    Its not mine, it was purchased by and belongs to my parents, its registered in my mothers name but when i moved i needed a car and couldnt afford to buy one so they let me use it.
  • sniggingssniggings Forumite
    5.3K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    mate there are a few things you could change and need to redo correctly but as you are not on a big wage I think it would be most unlikely you would have to repay anything.
  • JCS1JCS1 Forumite
    4.8K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    Forumite
    I thought on a DRO that your surplus had to be less than £50 p/m? Having said that groceries are very low so you could increase that to £180-200 p.m Clothing add £40 p/m
  • Lostboy02Lostboy02 Forumite
    35 Posts
    There are things that i havent included, internet for example, and i have a personal debt to a family member. but i know they dont count on the SOA so i left them out.

    As you can see with my Debt repayments i am in a 72 pound minus every month so i currently have no surplus, is the 50 surplus before or after debt repayments?
  • The surplus is without any debt repayments.

    JCS is right, £200 for groceries, £40 for clothes, £15 medical, £30 holiday (though not sure if that is allowed on a DRO as it is in BR, hopefully someone will confirm) Do you not have a phone or mobile?
    BSCno.87
    The only stupid question is an unasked one
    Loving life as a Kernow Hippy
  • Lostboy02Lostboy02 Forumite
    35 Posts
    Yes i have a pay as you go mobile phone now. Are the above figures allowed with DRO , clothes etc?
    Are utility bills required when processing a DRO? just so i know what i have to collect.

    Thanks for all replys so far
  • elfiebelfieb Forumite
    530 Posts
    Having gone through the DRO process myself, there is no "set SOA".

    Basically if you have less than £50 suplus a month, I dont think there will be much questioning, well there wasnt for me anyway.

    No utility bills required.
    I used to be Snow White, but I drifted.
    Mae West
  • Lostboy02Lostboy02 Forumite
    35 Posts
    Statement of Affairs and Personal Balance Sheet

    Monthly Income Details

    Monthly income after tax................ 912
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 912


    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 255
    Management charge (leasehold property).. 0
    Council tax............................. 40
    Electricity............................. 20
    Gas..................................... 20
    Oil..................................... 0
    Water rates............................. 20
    Telephone (land line)................... 0
    Mobile phone............................ 25
    TV Licence.............................. 12
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 200
    Clothing................................ 40
    Petrol/diesel........................... 130
    Road tax................................ 15
    Car Insurance........................... 40
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 15
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 10
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 10
    Entertainment........................... 0
    Holiday................................. 0
    Emergency fund.......................... 0
    Total monthly expenses.................. 852



    Assets

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


    No Secured nor Hire Purchase Debts


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



    Monthly Budget Summary

    Total monthly income.................... 912
    Expenses (including HP & secured debts). 852
    Available for debt repayments........... 60
    Monthly UNsecured debt repayments....... 0
    Amount left after debt repayments....... 60


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


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


    Well i revised it slightly, I am really struggling and cant afford BR but i dont want to be dishonest, it seems i have a problem :(
  • You still have to much surplus, add £30 for holiday and see if that is accepted.
    BSCno.87
    The only stupid question is an unasked one
    Loving life as a Kernow Hippy
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