BR Tomorrow eeekkkk...! have got the SOA correct ?

flip-flop-fly

I am at court tomorrow I have printed my forms off ready got my fee, gosh i am so nervous!!

I am going to put the SOA from the make sense of cards website as not much room on the insolvancy website and not very detailed (I have also locked my forms now). From what i have read on here the OR will send me SOA forms to fill in prior to interview anyway.

I am still a little unsure on the Child Tax credit and Child benfit the CB is in wifes name do i include this it is £33 per week and Child Tax credit £42 per month. On my SOA i have not put down CB as and put down £21 per month (50%) of the child tax credit.

My wife gets paid approx £420/50 per month so listed her contribution as £55 to household expenses (she has a lot of her own debt).

I have a company car so have listed a fuel allowence but thats it (for personal travel)

Thank you all for your advice / support and just being there I will let you know how it goes tomorrow. My SOA below would appreciate a last glance in case anything glarringly wrong with it....



Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 1932
Partners monthly income after tax....... 55
Benefits................................ 21
Other income............................ 0
Total monthly income.................... 2008

Monthly Expense Details
Mortgage................................ 602
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 114
Electricity............................. 76
Gas..................................... 75
Oil..................................... 0
Water rates............................. 41
Telephone (land line)................... 35
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 600
Clothing................................ 120
Petrol/diesel........................... 40
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 25
Pet insurance/vet bills................. 20
Buildings insurance..................... 15
Contents insurance...................... 25
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Childrens clubs / activities............ 40
dry cleaning............................ 15
school meals............................ 40
Total monthly expenses.................. 1980


Assets
Cash.................................... 0
House value (Gross)..................... 138000
Shares and bonds........................ 375
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 138375


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(602)......0
Total secured & HP debts...... 0.........-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Egg............................6835......175.......36.9
Virgin.........................6454......180.......34.9
Barclaycard....................7998......160.......34.9
Virgin Media...................55........55........0
Halifax O/D....................680.......0.........24
Company Loans with PG..........10933.....245.......29
Marbles........................8162......204.......34.9
BMI Baby.......................2334......70........29.9
Lloyds Credit Card.............1953......45........29.9
Mint...........................2285......54........29.9
RBS............................2434......154.......29.9
Tesco..........................4968......160.......28.9
Total unsecured debts..........55091.....1502......-


Monthly Budget Summary
Total monthly income.................... 2,008
Expenses (including HP & secured debts). 1,980
Available for debt repayments........... 28
Monthly UNsecured debt repayments....... 1,502
Amount short for making debt repayments. -1,474

Personal Balance Sheet Summary
Total assets (things you own)........... 138,375
Total HP & Secured debt................. -0
Total Unsecured debt.................... -55,091
Net Assets.............................. 83,284

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

JCS1

flip-flop-fly wrote: »

I am at court tomorrow I have printed my forms off ready got my fee, gosh i am so nervous!!

I am going to put the SOA from the make sense of cards website as not much room on the insolvancy website and not very detailed (I have also locked my forms now). From what i have read on here the OR will send me SOA forms to fill in prior to interview anyway. They won't do this - they will go from the ones on the court documents. They do send a new SOA when considering early discharge but not until at least 4-5 months in. If the one on your court forms is wrong, ask the OR for another when you have your interview.

I am still a little unsure on the Child Tax credit and Child benfit the CB is in wifes name do i include this it is £33 per week and Child Tax credit £42 per month. On my SOA i have not put down CB as and put down £21 per month (50%) of the child tax credit.

My wife gets paid approx £420/50 per month so listed her contribution as £55 to household expenses (she has a lot of her own debt).

I have a company car so have listed a fuel allowence but thats it (for personal travel)

Thank you all for your advice / support and just being there I will let you know how it goes tomorrow. My SOA below would appreciate a last glance in case anything glarringly wrong with it....



Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 1932
Partners monthly income after tax....... 55
Benefits................................ 21 You need to put the full amount of tax credit and also add in child benefit.
Other income............................ 0
Total monthly income.................... 2008

Monthly Expense Details
Mortgage................................ 602
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 114
Electricity............................. 76
Gas..................................... 75
Oil..................................... 0
Water rates............................. 41
Telephone (land line)................... 35
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 600
Clothing................................ 120
Petrol/diesel........................... 40
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 25
Pet insurance/vet bills................. 20
Buildings insurance..................... 15
Contents insurance...................... 25
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Childrens clubs / activities............ 40
dry cleaning............................ 15
school meals............................ 40 Normally expected to come out of housekeeping, but leave and see.
Total monthly expenses.................. 1980


Assets
Cash.................................... 0
House value (Gross)..................... 138000
Shares and bonds........................ 375 OR will take these as an asset
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 138375


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(602)......0
Total secured & HP debts...... 0.........-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Egg............................6835......175.......36.9
Virgin.........................6454......180.......34.9
Barclaycard....................7998......160.......34.9
Virgin Media...................55........55........0
Halifax O/D....................680.......0.........24
Company Loans with PG..........10933.....245.......29
Marbles........................8162......204.......34.9
BMI Baby.......................2334......70........29.9
Lloyds Credit Card.............1953......45........29.9
Mint...........................2285......54........29.9
RBS............................2434......154.......29.9
Tesco..........................4968......160.......28.9
Total unsecured debts..........55091.....1502......-


Monthly Budget Summary
Total monthly income.................... 2,008
Expenses (including HP & secured debts). 1,980
Available for debt repayments........... 28
Monthly UNsecured debt repayments....... 1,502
Amount short for making debt repayments. -1,474

Personal Balance Sheet Summary
Total assets (things you own)........... 138,375
Total HP & Secured debt................. -0
Total Unsecured debt.................... -55,091
Net Assets.............................. 83,284

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

HTH - I note some PG's, has the company ceased trading?

flip-flop-fly

Hi Thanks for the advice, as the form is locked i will print off another, enter the correct figures (with all the benefits included CB and CTC) then slip it in with the form.

The company was a Ltd company which i had to resign from as Director, it has ceased trading but was left with debts that i was covering the payments on, as i had Personal Guarantees on preventing me from closing the business, however I now have no choice as going BR so have listed the PG as debt. The company has no other debt.

I am confused about the benefits with your partners income you only list her contribution, but the Child Benefit you list it all, and isn't this benefit for the children ? other postings on the forums say it is not included in total it is £132 pm plus £42 for child tax credit so makes a difference to my income on the SOA

All very confusing be glad when it is done

peachyprice

flip-flop-fly wrote: »

I am confused about the benefits with your partners income you only list her contribution, but the Child Benefit you list it all, and isn't this benefit for the children ? other postings on the forums say it is not included in total it is £132 pm plus £42 for child tax credit so makes a difference to my income on the SOA

All very confusing be glad when it is done

Child benefit and CTC is for the child/children of the household, therefore the whole of the CB and CTC goes on the form, it's part of the household income, not just the person's who's name it's in. That is unless the children are not yours and you in no way shape or form contribute to their keep, in which case you wouldn't put them on the form at all.

The posts you have read that say it's not included mean CB isn't included when they calculate your surplus, so if you have children your surplus could be £99 + CB before they could take an IPA, however, it seems this might be changing. CTC is always included. Both still have to be sown on the form, in full, under benefits.

HTH

flip-flop-fly

Thank you so much for the precise answer, I have downloaded the word file from the Insolvancy website and going to change these now, just the pages i need to better than printing the whole form again.

Phewwww a last minute fluster and jitter get this done put in the file then i can relax... well try, can't stop thinking bout it, I know everyone who has posted says the day is normally a lot less stressful than expected but all the PHONE CALLS just add to the sinking feeling.......

They just don't stop (sorry had to rant ... been a busy night for there automated services)

antarctica

good luck tomorrow

debtinfo

how have you worked out that your partners contribution is only £55

flip-flop-fly

She only earns £420 p/m working a couple of days and so and has very little disposable income to contribute, her debts are £15k or £340 p/m so she only contributes £55 to the household income it is my salery that pays all the household bills.

debtinfo

The OR will expect each working family member to contribute pro rata depending on their income. as she earns 17% of the income the OR will expect her to pay 17% of the Joint outgoings (rent, food, bills etc)