SOA help please

smegs1978

Hi,

Just quickly done my SOA, will need to look at it properly when i get home.

We hope to have 1 very cheap car that will be in my OH name when i do go bankrupt, and the debts amount to about £25000, can someone just advise please.

This is what i expect it to be after i am BR.


Household InformationNumber of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 989
Partners monthly income after tax....... 0
Benefits................................ 888 (includeds CB at £46 a week)
Other income............................ 0
Total monthly income.................... 1877
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 480
Management charge (leasehold property).. 0
Council tax............................. 81
Electricity............................. 75
Gas..................................... 75
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 35
Mobile phone............................ 20 (pay as u go)
TV Licence.............................. 24.95 (only for next 3 months)
Satellite/Cable TV...................... 15 (happy to take out of surplus
Internet Services....................... 15 (needed as i sometimes work from home, also OH needs it for college)
Groceries etc. ......................... 450
Clothing................................ 100 (not sure how much we are allowed)
Petrol/diesel........................... 60
Road tax................................ 18
Car Insurance........................... 75 (high as 2 on premium and no "no claims discount")
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 20 (is this ok for 2 cats and a dog)
Buildings insurance..................... 0
Contents insurance...................... 20 (accidental cover included)
Life assurance ......................... 0
Other ........................ £91 (tv rental and DH sofa on HP)
Presents (birthday, christmas etc)...... 0
Haircuts................................ 50 (not sure if this is allowed)
Entertainment........................... 0
Holiday................................. (not sure how much to put here.
Emergency fund.......................... 0
Total monthly expenses.................. 1764.95

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500 (will be my OH's)
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 1,877
Expenses (including HP & secured debts). 1,764.95
Available for debt repayments........... 103.05
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 113.00
Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 500
Created using the SOA calculator at www.makesenseofcards.com.
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