My SOA- All tips welcome

emski121

Hi Everyone,

I have been lurking on this forum for a couple of weeks now and cannot believe how helpful and nice everyone is. I have learnt an awful lot since finally taking the decision to go bankrupt and have done my first draft of my SOA.

I know I will probably have a surplus, especially if the OR takes my car ( which is a small sacafice to make), but am slightly unclear on who much they will take. Is is half of anything over 99 or half of the whole amount of the surplus.

I sometimes get bonus on a quarterly basis but these are not guaranteed so have left them out. I guess I just need to let the OR know if I do get one.

Anyway here is my SOA, all comments welcome.


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details[/b]
Monthly income after tax................ 1227
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1227
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 480
Management charge (leasehold property).. 0
Council tax............................. 78
Electricity............................. 45
Gas..................................... 0
Oil..................................... 0
Water rates............................. 12
Telephone (land line)................... 30 (have included mobile)
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 10
Petrol/diesel........................... 60
Road tax................................ 12
Car Insurance........................... 31
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 73 (this is for my monthly bus pass, dont drive to work)
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 30
Emergency fund.......................... 0
Total monthly expenses.................. 1115

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2885
Other assets............................ 0
Total Assets............................ 2885

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
visa...........................4800......120.......0
visa...........................2800......65........0
visa...........................3800......126.......0
smile loan.....................7000......207.......0
catalogue......................280.......12........0
Total unsecured debts..........18680.....530.......-

Monthly Budget Summary
Total monthly income.................... 1,227
Expenses (including HP & secured debts). 1,115
Available for debt repayments........... 112
Monthly UNsecured debt repayments....... 530
Amount short for making debt repayments. -418
Personal Balance Sheet Summary
Total assets (things you own)........... 2,885
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,680
Net Assets.............................. -15,795

FACEDUPTOITATLAST

emski121 wrote: »

Hi Everyone,

I have been lurking on this forum for a couple of weeks now and cannot believe how helpful and nice everyone is. I have learnt an awful lot since finally taking the decision to go bankrupt and have done my first draft of my SOA.

I know I will probably have a surplus, especially if the OR takes my car ( which is a small sacafice to make), but am slightly unclear on who much they will take. Is is half of anything over 99 or half of the whole amount of the surplus.

I sometimes get bonus on a quarterly basis but these are not guaranteed so have left them out. I guess I just need to let the OR know if I do get one.

Anyway here is my SOA, all comments welcome.


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details[/b]
Monthly income after tax................ 1227
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1227
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 480
Management charge (leasehold property).. 0
Council tax............................. 78
Electricity............................. 45
Gas..................................... do you not have gas?
Oil..................................... 0
Water rates............................. 12
Telephone (land line)................... 30 (have included mobile)
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 10
Petrol/diesel........................... 60
Road tax................................ 12
Car Insurance........................... 31
Car maintenance (including MOT)......... 10 15
Car parking............................. 0
Other travel............................ 73 (this is for my monthly bus pass, dont drive to work)
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10 15
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10 may not be allowed, but no harm trying.
Haircuts................................ 10
Entertainment...........................
Holiday................................. 30
Emergency fund.......................... 0
Total monthly expenses.................. 1115 1155

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2885
Other assets............................ 0
Total Assets............................ 2885

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
visa...........................4800......120.......0
visa...........................2800......65........0
visa...........................3800......126.......0
smile loan.....................7000......207.......0
catalogue......................280.......12........0
Total unsecured debts..........18680.....530.......-

Monthly Budget Summary
Total monthly income.................... 1,227
Expenses (including HP & secured debts). 1,115
Available for debt repayments........... 112 72
Monthly UNsecured debt repayments....... 530
Amount short for making debt repayments. -418
Personal Balance Sheet Summary
Total assets (things you own)........... 2,885
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,680
Net Assets.............................. -15,795

Just a few ideas, i'm sure someone will be along to either say what I have put in is ok or not, or maybe add a few things.

Sunny_Bear

emski121 wrote: »

Hi Everyone,

I have been lurking on this forum for a couple of weeks now and cannot believe how helpful and nice everyone is. I have learnt an awful lot since finally taking the decision to go bankrupt and have done my first draft of my SOA.

I know I will probably have a surplus, especially if the OR takes my car ( which is a small sacafice to make), but am slightly unclear on who much they will take. Is is half of anything over 99 or half of the whole amount of the surplus.

I sometimes get bonus on a quarterly basis but these are not guaranteed so have left them out. I guess I just need to let the OR know if I do get one.

Anyway here is my SOA, all comments welcome.


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details[/b]
Monthly income after tax................ 1227
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1227
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 480
Management charge (leasehold property).. 0
Council tax............................. 78
Electricity............................. 45 £60(Allowing for winter months with storage heaters)
Gas..................................... 0
Oil..................................... 0
Water rates............................. 12 £25
Telephone (land line)................... 30 (have included mobile)
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 10 £20
Petrol/diesel........................... 60 see below
Road tax................................ 12
Car Insurance........................... 31
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 73 (this is for my monthly bus pass, dont drive to work) see below
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12 £20
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 30
Emergency fund.......................... 0
Total monthly expenses.................. 1115

Looks pretty good to me!

I think you should move your bus pass costs into your petrol costs because otherwise it looks a bit like you don't need your car. Once the soa is agreed it doesn't matter what you spend it on, so can carry on getting the bus pass. Also don't forget that the soa will change if they take the car so your travel cost will be probably be much more.

dalip

emski121 wrote: »

Hi Everyone,

I have been lurking on this forum for a couple of weeks now and cannot believe how helpful and nice everyone is. I have learnt an awful lot since finally taking the decision to go bankrupt and have done my first draft of my SOA.

I know I will probably have a surplus, especially if the OR takes my car ( which is a small sacafice to make), but am slightly unclear on who much they will take. Is is half of anything over 99 or half of the whole amount of the surplus.

I sometimes get bonus on a quarterly basis but these are not guaranteed so have left them out. I guess I just need to let the OR know if I do get one.

Anyway here is my SOA, all comments welcome.


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details[/b]
Monthly income after tax................ 1227
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1227
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 480
Management charge (leasehold property).. 0
Council tax............................. 78
Electricity............................. 45
Gas..................................... 0if no gas up your electric to £60
Oil..................................... 0
Water rates............................. 12
Telephone (land line)................... 30 (have included mobile)
Mobile phone............................ 0£10
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 10£40
Petrol/diesel........................... 60£100
Road tax................................ 12
Car Insurance........................... 31
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 73 (this is for my monthly bus pass, dont drive to work)take this off,as SB says you may not get to keep the car if you don't use it for work
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10£20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 30
Emergency fund.......................... 0
Total monthly expenses.................. 1115

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2885
Other assets............................ 0
Total Assets............................ 2885

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
visa...........................4800......120.......0
visa...........................2800......65........0
visa...........................3800......126.......0
smile loan.....................7000......207.......0
catalogue......................280.......12........0
Total unsecured debts..........18680.....530.......-

Monthly Budget Summary
Total monthly income.................... 1,227
Expenses (including HP & secured debts). 1,115
Available for debt repayments........... 112
Monthly UNsecured debt repayments....... 530
Amount short for making debt repayments. -418
Personal Balance Sheet Summary
Total assets (things you own)........... 2,885
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,680
Net Assets.............................. -15,795

Ok that looks better,take note of the comments i and others have made about the car please.Dx

emski121

Thanks for your help everyone, especially about the bus pass.

Got my date for the 10th September so it is just a matter of figuring out what to write for my reasons and waiting. Feels like it is forever!!!

philnicandamy

Good luck with it all.....the time will fly & it'll be here in no time!

fiveyearplan

Good luck emski. You should hopefully get through without an IPA. Fingers crossed!