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

sniggings

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 is this not abit higher?
Electricity............................. 20 this is low?
Gas..................................... 20 ditto
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 0
Mobile phone............................ 25 put as phone not mobile and its again low,i put £55
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 40
Petrol/diesel........................... 130 up this abit
Road tax................................ 15
Car Insurance........................... 40
Car maintenance (including MOT)......... 0 you need this
Car parking............................. 0 do youneed this?
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 is this not more
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 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 [/QUOTE]

elfieb

I dont mean to sound all doom and gloom, but have you considered a DMP, Im just thinking ahead if creditors appeal???

Lostboy02

I did try a debt management plan but i seem to have nothing left over each month, and im really struggling to make ends meet. The DMP seemed like a never ending payment, i could afford to pay so little each month that it would of taken a huge number of years to pay it off

elfieb

Lostboy02 wrote: »

I did try a debt management plan but i seem to have nothing left over each month, and im really struggling to make ends meet. The DMP seemed like a never ending payment, i could afford to pay so little each month that it would of taken a huge number of years to pay it off

yep, I know that feeling!!!

As far as getting an DRO approved, you wont really need to go into much detail on your SOA, as long as you hit the £50 surplus you will be fine.

HOWEVER, your creditors will know that you are working, and could appeal to the OR disagreeing with the DRO, inwhich case you will have to present a pretty water tight SOA.

Lostboy02

In most cases the creditors havent had a payment from me in 5 months, im just waiting now for the day that one comes knocking on the door, or process's a CCJ.
A Dro is really the last chance for me to get out of this.
As far a presenting a water tight SOA, what evidence would i be required to produce in order to back it up, could you give me an idea?
My figures are spot on at the moment but to meet that 50 surplus im going to have to pad ever so slightly.

sniggings

Lostboy02 wrote: »

In most cases the creditors havent had a payment from me in 5 months, im just waiting now for the day that one comes knocking on the door, or process's a CCJ.
A Dro is really the last chance for me to get out of this.
As far a presenting a water tight SOA, what evidence would i be required to produce in order to back it up, could you give me an idea?
My figures are spot on at the moment but to meet that 50 surplus im going to have to pad ever so slightly.

remember that it is a new start so some amounts will be higher as when living with debt we learn to do without some things less food etc so its not so much about what you can prove but what you will need.

elfieb

The thing is no one really knows just what kind of SOA is needed for DRO's!!! Crazy I know!!!

My best advice to you would be to email a poster on this forum called DebtDoctor. He is an intermediary and will be able to give you the best info out there on DROs.
Failing that I can enquire with my collegues at CAB tomorrow and see what suggestions they can give me.
Sorry I cant be of any more help right at this very min.

Lostboy02

Thanks so much to you both, im taking solice in my one luxury at the moment, Prison Break lol.

It seems to be a minefield of figures and i dont want to put that foot wrong and blow it all!
I know mine isnt the worst of situations by a long stretch but its getting harder and harder to make ends meet each month.

Lostboy02

SOA edited! Please check

tigerfeet2006

Don't think you will get away with £20 parking a month unless it is essential for work. Maybe put it under holiday.