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SOA - please take a look

charliedavis
charliedavis Posts: 409 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Bankruptcy & living with it
Hi

I need to change my SOA as I did it wrong when submitted yesterday, I know I missed loads of things out, can you take a look and comment please? I have a face to face appointment with an OR in 2 days time so need to get it right! At present we are getting no tax credits as it has not been assessed, and I am actually earning nothing from self employment. However I have put in next month's figures, is that ok?

[FONT=&quot]Summary[/FONT]
[FONT=&quot]Monthly Budget Summary[/FONT]
[FONT=&quot]Amount(£)[/FONT]
[FONT=&quot]Total monthly income[/FONT]
[FONT=&quot]2,378[/FONT]
[FONT=&quot]Monthly expenses (incl. HP & secured loans)[/FONT]
[FONT=&quot]2,347[/FONT]
[FONT=&quot]Available for debt repayments[/FONT]
[FONT=&quot]31[/FONT]
[FONT=&quot]UNsecured debt repayments[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Amount left after debt repayments[/FONT]
[FONT=&quot]31[/FONT]

[FONT=&quot]Personal Balance Sheet Summary[/FONT]
[FONT=&quot]Amount(£)[/FONT]
[FONT=&quot]Total Assets (things you own)[/FONT]
[FONT=&quot]140,000[/FONT]
[FONT=&quot]Total Secured & HP Debt[/FONT]
[FONT=&quot]-145,000[/FONT]
[FONT=&quot]Total Unsecured Debt[/FONT]
[FONT=&quot]-0[/FONT]
[FONT=&quot]Net Assets[/FONT]
[FONT=&quot]-5,000[/FONT]
[FONT=&quot]Household Information[/FONT]
[FONT=&quot]Number of adults in household[/FONT]
[FONT=&quot]2[/FONT]
[FONT=&quot]Number of children in household[/FONT]
[FONT=&quot]2[/FONT]
[FONT=&quot]Number of cars owned[/FONT]
[FONT=&quot]1[/FONT]
[FONT=&quot]Income, Expense, Debt & Asset Details[/FONT]
[FONT=&quot]Income[/FONT]
[FONT=&quot]Amount(£)[/FONT]
[FONT=&quot]Monthly income after tax[/FONT]
[FONT=&quot]300[/FONT]
[FONT=&quot]Partners monthly income[/FONT]
[FONT=&quot]1250[/FONT]
[FONT=&quot]Benefits[/FONT]
[FONT=&quot]581[/FONT]
[FONT=&quot]Other income[/FONT]
[FONT=&quot]247[/FONT]
[FONT=&quot]Total monthly income[/FONT]
[FONT=&quot]2378[/FONT]

[FONT=&quot]Expenses[/FONT]
[FONT=&quot]Amount(£)[/FONT]
[FONT=&quot]Mortgage[/FONT]
[FONT=&quot]850[/FONT]
[FONT=&quot]Secured/HP loan payments[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Rent[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Management charge (leasehold property)[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Council tax[/FONT]
[FONT=&quot]113[/FONT]
[FONT=&quot]Electricity[/FONT]
[FONT=&quot]50[/FONT]
[FONT=&quot]Gas[/FONT]
[FONT=&quot]50[/FONT]
[FONT=&quot]Oil[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Water Rates[/FONT]
[FONT=&quot]40[/FONT]
[FONT=&quot]Telephone (land line)[/FONT]
[FONT=&quot]40[/FONT]
[FONT=&quot]Mobile phone[/FONT]
[FONT=&quot]20[/FONT]
[FONT=&quot]TV Licence[/FONT]
[FONT=&quot]12[/FONT]
[FONT=&quot]Satellite/Cable TV[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Internet services[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Groceries etc.[/FONT]
[FONT=&quot]550[/FONT]
[FONT=&quot]Clothing[/FONT]
[FONT=&quot]110[/FONT]
[FONT=&quot]Petrol/diesel[/FONT]
[FONT=&quot]80[/FONT]
[FONT=&quot]Road tax[/FONT]
[FONT=&quot]11[/FONT]
[FONT=&quot]Car Insurance[/FONT]
[FONT=&quot]55[/FONT]
[FONT=&quot]Car maintenance (including MOT)[/FONT]
[FONT=&quot]40[/FONT]
[FONT=&quot]Car Parking[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Other travel[/FONT]
[FONT=&quot]32[/FONT]
[FONT=&quot]Childcare/nursery[/FONT]
[FONT=&quot]65[/FONT]
[FONT=&quot]Other child related expenses[/FONT]
[FONT=&quot]137[/FONT]
[FONT=&quot]Medical (prescriptions, dentists, opticians etc.)[/FONT]
[FONT=&quot]12[/FONT]
[FONT=&quot]Pet Insurance/Vet bills[/FONT]
[FONT=&quot]15[/FONT]
[FONT=&quot]Buildings Insurance[/FONT]
[FONT=&quot]10[/FONT]
[FONT=&quot]Contents Insurance[/FONT]
[FONT=&quot]10[/FONT]
[FONT=&quot]Life Assurance[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Other Insurance[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Presents (birthday, christmas etc.)[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Haircuts[/FONT]
[FONT=&quot]45[/FONT]
[FONT=&quot]Entertainment[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Holiday[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Emergency Fund[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Total monthly expenses[/FONT]
[FONT=&quot]2347[/FONT]

[FONT=&quot]Secured & HP Debt Description[/FONT]
[FONT=&quot]Debt(£)[/FONT]
[FONT=&quot]Monthly(£)[/FONT]
[FONT=&quot]APR(%)[/FONT]
[FONT=&quot]Mortgage[/FONT]
[FONT=&quot]145000[/FONT]
[FONT=&quot](850) [/FONT]
[FONT=&quot]5.5[/FONT]
[FONT=&quot]Secured & HP Debt totals[/FONT]
[FONT=&quot]145000[/FONT]
[FONT=&quot]- [/FONT]
[FONT=&quot]- [/FONT]

[FONT=&quot]Unsecured Debt Description[/FONT]
[FONT=&quot]Debt(£)[/FONT]
[FONT=&quot]Monthly(£)[/FONT]
[FONT=&quot]APR(%)[/FONT]
[FONT=&quot]Unsecured Debt totals[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]- [/FONT]

[FONT=&quot]Asset Description[/FONT]
[FONT=&quot]Value (£)[/FONT]
[FONT=&quot]Cash[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]House Value (Gross)[/FONT]
[FONT=&quot]140000[/FONT]
[FONT=&quot]Shares and bonds[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Car(s)[/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Other assets (e.g. endowments, jewellery etc) [/FONT]
[FONT=&quot]0[/FONT]
[FONT=&quot]Total Assets[/FONT]
[FONT=&quot]140000[/FONT]


Note - child related expenses are 2 x school meals for a 16 year old and 7 year old, school trips at £30 and children's sports at £25 (football and gym). Will this be allowed? There was also nowhere to put pet food?

Expenses due to change when baby arrives in November of course.
«1

Comments

  • So_Sad_Angel
    So_Sad_Angel Posts: 7,363 Forumite
    Hi Charlie

    Looks OK to me....your buildings cover looks low at £10 (I realise contents is noted as seperate value).

    Good luck with the interview.

    Angiexx
  • dalip
    dalip Posts: 7,045 Forumite
    Haircuts should only be £30= £10 per adult,£5 per child. You could add £20 for holidays to absorb that diffference.Good luck for tomorrow.Dx
    Free impartial debt advice available from: National Debtline - Tel: 0808 808 4000 | The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 | Find your local Citizens Advice Bureau
    Laugh at yourself and others laugh with you.Laugh at others and you laugh alone. BSC No 107:D
  • charliedavis
    charliedavis Posts: 409 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Thanks - have had the interview postponed until Wednesday despite the fact she had told me on the phone it would be tomorrow so I've kept it free, grrrr.

    Any other comments? I have 5 student loans, should I be planning to include this (although I think I will be able to defer)
  • Tristesse
    Tristesse Posts: 190 Forumite
    I spoke to someone from ND this morning. Apparently you have to put student loans down but they won't be included and written off :(
  • dalip
    dalip Posts: 7,045 Forumite
    yes thats right. I put mine down but my OR said "sorry you will have to pay that yourself" .Dx
    Free impartial debt advice available from: National Debtline - Tel: 0808 808 4000 | The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 | Find your local Citizens Advice Bureau
    Laugh at yourself and others laugh with you.Laugh at others and you laugh alone. BSC No 107:D
  • charliedavis
    charliedavis Posts: 409 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    I am totally gobsmacked. We've had a letter today, and somehow the OR has come up with an IPA of £344.80 per month on the figures above! How on EARTH did they come up with that?

    [FONT=&quot]Income, Expense, Debt & Asset Details[/FONT]
    [FONT=&quot]Income[/FONT]
    [FONT=&quot]Amount(£)[/FONT]
    [FONT=&quot]Monthly income after tax[/FONT]
    [FONT=&quot]300[/FONT]
    [FONT=&quot]Partners monthly income[/FONT]
    [FONT=&quot]1250[/FONT]
    [FONT=&quot]Benefits[/FONT]
    [FONT=&quot]581[/FONT]
    [FONT=&quot]Other income[/FONT]
    [FONT=&quot]247[/FONT]
    [FONT=&quot]Total monthly income[/FONT]
    [FONT=&quot]2378[/FONT]

    [FONT=&quot]Expenses[/FONT]
    [FONT=&quot]Amount(£)[/FONT]
    [FONT=&quot]Mortgage[/FONT]
    [FONT=&quot]850[/FONT]
    [FONT=&quot]Secured/HP loan payments[/FONT]
    [FONT=&quot]0[/FONT]
    [FONT=&quot]Rent[/FONT]
    [FONT=&quot]0[/FONT]
    [FONT=&quot]Management charge (leasehold property)[/FONT]
    [FONT=&quot]0[/FONT]
    [FONT=&quot]Council tax[/FONT]
    [FONT=&quot]113[/FONT]
    [FONT=&quot]Electricity[/FONT]
    [FONT=&quot]50[/FONT]
    [FONT=&quot]Gas[/FONT]
    [FONT=&quot]50[/FONT]
    [FONT=&quot]Oil[/FONT]
    [FONT=&quot]0[/FONT]
    [FONT=&quot]Water Rates[/FONT]
    [FONT=&quot]40[/FONT]
    [FONT=&quot]Telephone (land line)[/FONT]
    [FONT=&quot]40[/FONT]
    [FONT=&quot]Mobile phone[/FONT]
    [FONT=&quot]20[/FONT]
    [FONT=&quot]TV Licence[/FONT]
    [FONT=&quot]12[/FONT]
    [FONT=&quot]Satellite/Cable TV[/FONT]
    [FONT=&quot]0[/FONT]
    [FONT=&quot]Internet services[/FONT]
    [FONT=&quot]0[/FONT]
    [FONT=&quot]Groceries etc.[/FONT]
    [FONT=&quot]550[/FONT]
    [FONT=&quot]Clothing[/FONT]
    [FONT=&quot]110[/FONT]
    [FONT=&quot]Petrol/diesel[/FONT]
    [FONT=&quot]80[/FONT]
    [FONT=&quot]Road tax[/FONT]
    [FONT=&quot]11[/FONT]
    [FONT=&quot]Car Insurance[/FONT]
    [FONT=&quot]55[/FONT]
    [FONT=&quot]Car maintenance (including MOT)[/FONT]
    [FONT=&quot]40[/FONT]
    [FONT=&quot]Car Parking[/FONT]
    [FONT=&quot]0[/FONT]
    [FONT=&quot]Other travel[/FONT]
    [FONT=&quot]32[/FONT]
    [FONT=&quot]Childcare/nursery[/FONT]
    [FONT=&quot]65[/FONT]
    [FONT=&quot]Other child related expenses[/FONT]
    [FONT=&quot]137[/FONT]
    [FONT=&quot]Medical (prescriptions, dentists, opticians etc.)[/FONT]
    [FONT=&quot]12[/FONT]
    [FONT=&quot]Pet Insurance/Vet bills[/FONT]
    [FONT=&quot]15[/FONT]
    [FONT=&quot]Buildings Insurance[/FONT]
    [FONT=&quot]10[/FONT]
    [FONT=&quot]Contents Insurance[/FONT]
    [FONT=&quot]10[/FONT]
    [FONT=&quot]Life Assurance[/FONT]
    [FONT=&quot]0[/FONT]
    [FONT=&quot]Other Insurance[/FONT]
    [FONT=&quot]0[/FONT]
    [FONT=&quot]Presents (birthday, christmas etc.)[/FONT]
    [FONT=&quot]0[/FONT]
    [FONT=&quot]Haircuts[/FONT]
    [FONT=&quot]45[/FONT]
    [FONT=&quot]Entertainment[/FONT]
    [FONT=&quot]0[/FONT]
    [FONT=&quot]Holiday[/FONT]
    [FONT=&quot]0[/FONT]
    [FONT=&quot]Emergency Fund[/FONT]
    [FONT=&quot]0[/FONT]
    [FONT=&quot]Total monthly expenses[/FONT]
    [FONT=&quot]2347[/FONT]
  • charliedavis
    charliedavis Posts: 409 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    By the way - I did alter it downwards, made clothing lower to £60 and haircuts lower to £30.
  • charliedavis
    charliedavis Posts: 409 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    edited 29 July 2009 at 11:29AM
    Revised SOA - what do you think please?

    Money in
    Child benefit £132.80 Maintenance £223.00 Working Tax Credit £307.43 OH Salary inc overtime £1,270.00 My salary £200.00 Total In £2,133.23

    Out Commitments Mortgage £445.00 2nd charge mortgage £135.00 3rd charge mortgage £70.00 Groceries £520.00 Pet insurance / vet costs £20.00 Hairdressing £30.00 Clothes £70.00 Childcare (After school club, holiday club) £80.00 School Trips £10.00 Bus fares (16 year old son to college) £79.00 Petrol £100.00 Car maintenance £25.00 Car tax £18.00 Breakdown insurance £5.00 Car insurance £50.00 Home insurance £20.00 Water bill £45.00 Mobile phones (needed for work) £20.00 Gas £35.00 Electric £45.00 TV licence £12.00 Children activities (football, gym) £20.00 Council Tax £133.00 Holiday £50.00 Landline telephone £25.00 Medical (dentists, prescriptions, pregnancy vitamins) £15.00 Broadband (needed for work and son's sixth form studies) £25.00 Total £2,102.00

    Surplus £31.23
  • charliedavis
    charliedavis Posts: 409 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Anyone? :-)
  • peachyprice
    peachyprice Posts: 22,346 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    What is the revised SoA for, have you had a pay rise/cut?
    It's a bit hard to read like that, can you put it in list form.
    Accept your past without regret, handle your present with confidence and face your future without fear
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