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Here's the SOA please have a look!

tech2_2
tech2_2 Posts: 274 Forumite
in Bankruptcy & living with it
Hi all

Still not sure which way to turn, but we would appreciate any advice on our SOA.

Thanks

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 2105
Partners monthly income after tax....... 0
Benefits................................ 138
Other income............................ 0
Total monthly income.................... 2243
Monthly Expense Details
Mortgage................................ 218
Secured/HP loan repayments.............. 341
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 129
Electricity............................. 70
Gas..................................... 35
Oil..................................... 0
Water rates............................. 22
Telephone (land line)................... 50
Mobile phone............................ 10
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 500
Clothing................................ 40
Petrol/diesel........................... 65
Road tax................................ 18
Car Insurance........................... 20
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 44
Childcare/nursery....................... 208
Other child related expenses............ 90
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 0
Buildings insurance..................... 11
Contents insurance...................... 19
Life assurance ......................... 113
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 30
Entertainment........................... 40
Holiday................................. 80
Emergency fund.......................... 0
Total monthly expenses.................. 2231

Assets
Cash.................................... 0
House value (Gross)..................... 100000
Shares and bonds........................ 0
Car(s).................................. 3260
Other assets............................ 1000
Total Assets............................ 104260

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 105000...(218)......2.5
Secured Debt.................. 2650.....(222)......7.7
Hire Purchase (HP) debt ...... 3174.....(119)......12.2
Total secured & HP debts...... 110824....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
OVER DRAFT C...................5000......60........12.3
OVER DRAFT P...................4000......45........12.3
CC1............................3588......131.......26.5
BANK LOAN P....................2700......245.......11.4
CC7............................3800......125.......27.9
CC6............................800.......35........12.9
CC5............................14800.....455.......29.9
STORE CARD.....................500.......55........26.5
BANK LOAN C....................3500......283.......12
CC4............................2625......56........12.9
CC3............................13725.....276.......19.72
CC2............................1288......38........32.6
Total unsecured debts..........56326.....1804......-

Monthly Budget Summary
Total monthly income.................... 2,243
Expenses (including HP & secured debts). 2,231
Available for debt repayments........... 12
Monthly UNsecured debt repayments....... 1,804
Amount short for making debt repayments. -1,792
Personal Balance Sheet Summary
Total assets (things you own)........... 104,260
Total HP & Secured debt................. -110,824
Total Unsecured debt.................... -56,326
Net Assets.............................. -59,716
If Carling made web-sites this would proberly be the best website in the world :T

Get your SOA done here.... http://www.makesenseofcards.co.uk/soacalc.html

Comments

  • fiveyearplan
    fiveyearplan Posts: 10,145 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    tech2 wrote: »
    Hi all

    Still not sure which way to turn, but we would appreciate any advice on our SOA.

    Thanks

    Household Information[/b]
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 1
    Monthly Income Details
    Monthly income after tax................ 2105
    Partners monthly income after tax....... 0
    Benefits................................ 138
    Other income............................ 0
    Total monthly income.................... 2243
    Monthly Expense Details
    Mortgage................................ 218
    Secured/HP loan repayments.............. 341
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 129
    Electricity............................. 70
    Gas..................................... 35
    Oil..................................... 0
    Water rates............................. 22
    Telephone (land line)................... 50
    Mobile phone............................ 10
    TV Licence.............................. 13
    Satellite/Cable TV...................... 0
    Internet Services....................... 10 is this needed for work?
    Groceries etc. ......................... 500 you could up this to 600
    Clothing................................ 40 this could be raised too
    Petrol/diesel........................... 65
    Road tax................................ 18
    Car Insurance........................... 20
    Car maintenance (including MOT)......... 25
    Car parking............................. 0
    Other travel............................ 44
    Childcare/nursery....................... 208
    Other child related expenses............ 90 what is this?
    Medical (prescriptions, dentist etc).... 30
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 11
    Contents insurance...................... 19
    Life assurance ......................... 113 OR could have an interest in this
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 30
    Entertainment........................... 40

    Holiday................................. 80
    Emergency fund.......................... 0
    Total monthly expenses.................. 2231

    Assets
    Cash.................................... 0
    House value (Gross)..................... 100000
    Shares and bonds........................ 0
    Car(s).................................. 3260
    Other assets............................ 1000
    Total Assets............................ 104260

    Secured & HP Debts
    Description....................Debt......Monthly...APR
    Mortgage...................... 105000...(218)......2.5
    Secured Debt.................. 2650.....(222)......7.7
    Hire Purchase (HP) debt ...... 3174.....(119)......12.2
    Total secured & HP debts...... 110824....-.........-
    Unsecured Debts
    Description....................Debt......Monthly...APR
    OVER DRAFT C...................5000......60........12.3
    OVER DRAFT P...................4000......45........12.3
    CC1............................3588......131.......26.5
    BANK LOAN P....................2700......245.......11.4
    CC7............................3800......125.......27.9
    CC6............................800.......35........12.9
    CC5............................14800.....455.......29.9
    STORE CARD.....................500.......55........26.5
    BANK LOAN C....................3500......283.......12
    CC4............................2625......56........12.9
    CC3............................13725.....276.......19.72
    CC2............................1288......38........32.6
    Total unsecured debts..........56326.....1804......-

    Monthly Budget Summary
    Total monthly income.................... 2,243
    Expenses (including HP & secured debts). 2,231
    Available for debt repayments........... 12
    Monthly UNsecured debt repayments....... 1,804
    Amount short for making debt repayments. -1,792
    Personal Balance Sheet Summary
    Total assets (things you own)........... 104,260
    Total HP & Secured debt................. -110,824
    Total Unsecured debt.................... -56,326
    Net Assets.............................. -59,716
    I've given some comments from a BR perspective.

    :j :j


  • tech2_2
    tech2_2 Posts: 274 Forumite
    Originally Posted by tech2 viewpost.gif

    HI AND THANKS FOR THE COMMENTS WE HAVE POSTED ANSWERS, PLEASE LOOK AND MAKE ANY OTHER COMMENTS.

    Hi all

    Still not sure which way to turn, but we would appreciate any advice on our SOA.

    Thanks

    Household Information[/b]
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 1
    Monthly Income Details
    Monthly income after tax................ 2105
    Partners monthly income after tax....... 0
    Benefits................................ 138
    Other income............................ 0
    Total monthly income.................... 2243
    Monthly Expense Details
    Mortgage................................ 218
    Secured/HP loan repayments.............. 341
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 129
    Electricity............................. 70
    Gas..................................... 35
    Oil..................................... 0
    Water rates............................. 22
    Telephone (land line)................... 50
    Mobile phone............................ 10
    TV Licence.............................. 13
    Satellite/Cable TV...................... 0
    Internet Services....................... 10 is this needed for work? (YES)
    Groceries etc. ......................... 500 you could up this to 600 (PLEASE EXPLAIN WHY?)
    Clothing................................ 40 this could be raised too
    Petrol/diesel........................... 65
    Road tax................................ 18
    Car Insurance........................... 20
    Car maintenance (including MOT)......... 25
    Car parking............................. 0
    Other travel............................ 44
    Childcare/nursery....................... 208
    Other child related expenses............ 90 what is this? (SCHOOL DINNERS FOR 2 KIDS 5 & 14)
    Medical (prescriptions, dentist etc).... 30
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 11
    Contents insurance...................... 19
    Life assurance ......................... 113 OR could have an interest in this (IN THE NEXT FEW DAYS I WILL GET CLARIFICATION OF WHAT VALUE IS LIFE !!! ETC. LUMP SUM TAKEN FORM ACCOUNT TO ONE COMPANY)
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 30
    Entertainment........................... 40

    Holiday................................. 80
    Emergency fund.......................... 0
    Total monthly expenses.................. 2231

    Assets
    Cash.................................... 0
    House value (Gross)..................... 100000
    Shares and bonds........................ 0
    Car(s).................................. 3260
    Other assets............................ 1000
    Total Assets............................ 104260

    Secured & HP Debts
    Description....................Debt......Monthly.. .APR
    Mortgage...................... 105000...(218)......2.5
    Secured Debt.................. 2650.....(222)......7.7
    Hire Purchase (HP) debt ...... 3174.....(119)......12.2
    Total secured & HP debts...... 110824....-.........-
    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    OVER DRAFT C...................5000......60........12.3
    OVER DRAFT P...................4000......45........12.3
    CC1............................3588......131...... .26.5
    BANK LOAN P....................2700......245.......11.4
    CC7............................3800......125...... .27.9
    CC6............................800.......35....... .12.9
    CC5............................14800.....455...... .29.9
    STORE CARD.....................500.......55........26.5
    BANK LOAN C....................3500......283.......12
    CC4............................2625......56....... .12.9
    CC3............................13725.....276...... .19.72
    CC2............................1288......38....... .32.6
    Total unsecured debts..........56326.....1804......-

    Monthly Budget Summary
    Total monthly income.................... 2,243
    Expenses (including HP & secured debts). 2,231
    Available for debt repayments........... 12
    Monthly UNsecured debt repayments....... 1,804
    Amount short for making debt repayments. -1,792
    Personal Balance Sheet Summary
    Total assets (things you own)........... 104,260
    Total HP & Secured debt................. -110,824
    Total Unsecured debt.................... -56,326
    Net Assets.............................. -59,716
    I've given some comments from a BR perspective.
    If Carling made web-sites this would proberly be the best website in the world :T

    Get your SOA done here.... http://www.makesenseofcards.co.uk/soacalc.html
  • fiveyearplan
    fiveyearplan Posts: 10,145 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    tech2 wrote: »
    Originally Posted by tech2 viewpost.gif

    HI AND THANKS FOR THE COMMENTS WE HAVE POSTED ANSWERS, PLEASE LOOK AND MAKE ANY OTHER COMMENTS.

    Hi all

    Still not sure which way to turn, but we would appreciate any advice on our SOA.

    Thanks

    Household Information[/b]
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 1
    Monthly Income Details
    Monthly income after tax................ 2105
    Partners monthly income after tax....... 0
    Benefits................................ 138
    Other income............................ 0
    Total monthly income.................... 2243
    Monthly Expense Details
    Mortgage................................ 218
    Secured/HP loan repayments.............. 341
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 129
    Electricity............................. 70
    Gas..................................... 35
    Oil..................................... 0
    Water rates............................. 22
    Telephone (land line)................... 50
    Mobile phone............................ 10
    TV Licence.............................. 13
    Satellite/Cable TV...................... 0
    Internet Services....................... 10 is this needed for work? (YES)
    Groceries etc. ......................... 500 you could up this to 600 (PLEASE EXPLAIN WHY?)     A lot of people are coming back from their interview with that amount accepted.
    Clothing................................ 40 this could be raised too
    Petrol/diesel........................... 65
    Road tax................................ 18
    Car Insurance........................... 20
    Car maintenance (including MOT)......... 25
    Car parking............................. 0
    Other travel............................ 44
    Childcare/nursery....................... 208
    Other child related expenses............ 90 what is this? (SCHOOL DINNERS FOR 2 KIDS 5 & 14)
    Medical (prescriptions, dentist etc).... 30
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 11
    Contents insurance...................... 19
    Life assurance ......................... 113 OR could have an interest in this (IN THE NEXT FEW DAYS I WILL GET CLARIFICATION OF WHAT VALUE IS LIFE !!! ETC. LUMP SUM TAKEN FORM ACCOUNT TO ONE COMPANY)
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 30
    Entertainment........................... 40

    Holiday................................. 80
    Emergency fund.......................... 0
    Total monthly expenses.................. 2231

    Assets
    Cash.................................... 0
    House value (Gross)..................... 100000
    Shares and bonds........................ 0
    Car(s).................................. 3260
    Other assets............................ 1000
    Total Assets............................ 104260

    Secured & HP Debts
    Description....................Debt......Monthly.. .APR
    Mortgage...................... 105000...(218)......2.5
    Secured Debt.................. 2650.....(222)......7.7
    Hire Purchase (HP) debt ...... 3174.....(119)......12.2
    Total secured & HP debts...... 110824....-.........-
    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    OVER DRAFT C...................5000......60........12.3
    OVER DRAFT P...................4000......45........12.3
    CC1............................3588......131...... .26.5
    BANK LOAN P....................2700......245.......11.4
    CC7............................3800......125...... .27.9
    CC6............................800.......35....... .12.9
    CC5............................14800.....455...... .29.9
    STORE CARD.....................500.......55........26.5
    BANK LOAN C....................3500......283.......12
    CC4............................2625......56....... .12.9
    CC3............................13725.....276...... .19.72
    CC2............................1288......38....... .32.6
    Total unsecured debts..........56326.....1804......-

    Monthly Budget Summary
    Total monthly income.................... 2,243
    Expenses (including HP & secured debts). 2,231
    Available for debt repayments........... 12
    Monthly UNsecured debt repayments....... 1,804
    Amount short for making debt repayments. -1,792
    Personal Balance Sheet Summary
    Total assets (things you own)........... 104,260
    Total HP & Secured debt................. -110,824
    Total Unsecured debt.................... -56,326
    Net Assets.............................. -59,716
    I've given some comments from a BR perspective.

    I don't really know much about how the life policy will work - hopefully someone else will be along to answer that question.

    :j :j


  • tech2_2
    tech2_2 Posts: 274 Forumite
    Hi all

    We have made some changes to our SOA after advice on the forum Please could you look over it and make any alterations or comments. THANKS

    Household Information[/b]
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 1
    Monthly Income Details
    Monthly income after tax................ 2105
    Partners monthly income after tax....... 0
    Benefits................................ 138
    Other income............................ 0
    Total monthly income.................... 2243
    Monthly Expense Details
    Mortgage................................ 218
    Secured/HP loan repayments.............. 341
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 129
    Electricity............................. 70
    Gas..................................... 35
    Oil..................................... 0
    Water rates............................. 22
    Telephone (land line)................... 50
    Mobile phone............................ 10
    TV Licence.............................. 13
    Satellite/Cable TV...................... 0
    Internet Services....................... 10 Required for work
    Groceries etc. ......................... 600
    Clothing................................ 60
    Petrol/diesel........................... 65
    Road tax................................ 18
    Car Insurance........................... 20
    Car maintenance (including MOT)......... 25
    Car parking............................. 0
    Other travel............................ 44
    Childcare/nursery....................... 208
    Other child related expenses............ 90 Kids School Meals 5 & 14
    Medical (prescriptions, dentist etc).... 30
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 11
    Contents insurance...................... 19
    Life assurance ......................... 113 Still need to clarify this!
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 30
    Entertainment........................... 40
    Holiday................................. 80
    Emergency fund.......................... 0
    Total monthly expenses.................. 2351

    Assets
    Cash.................................... 0
    House value (Gross)..................... 100000
    Shares and bonds........................ 0
    Car(s).................................. 3260
    Other assets............................ 0
    Total Assets............................ 103260

    Secured & HP Debts
    Description....................Debt......Monthly.. .APR
    Mortgage...................... 105000...(218)......2.5
    Secured Debt.................. 2650.....(222)......7.7
    Hire Purchase (HP) debt ...... 3174.....(119)......12.2
    Total secured & HP debts...... 110824....-.........-
    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    OVER DRAFT C...................5000......60........12.3
    OVER DRAFT P...................4000......45........12.3
    CC1............................3588......131...... .26.5
    BANK LOAN P....................2700......245.......11.4
    CC7............................3800......125...... .27.9
    CC6............................800.......35....... .12.9
    CC5............................14800.....455...... .29.9
    STORE CARD.....................500.......55........26.5
    BANK LOAN C....................3500......283.......12
    CC4............................2625......56....... .12.9
    CC3............................13725.....276...... .19.72
    CC2............................1288......38....... .32.6
    Total unsecured debts..........56326.....1804......-

    Monthly Budget Summary
    Total monthly income.................... 2,243
    Expenses (including HP & secured debts). 2,351
    Available for debt repayments........... -108
    Monthly UNsecured debt repayments....... 1,804
    Amount short for making debt repayments. -1,912
    Personal Balance Sheet Summary
    Total assets (things you own)........... 103,260
    Total HP & Secured debt................. -110,824
    Total Unsecured debt.................... -56,326
    Net Assets.............................. -60,716
    If Carling made web-sites this would proberly be the best website in the world :T

    Get your SOA done here.... http://www.makesenseofcards.co.uk/soacalc.html
This discussion has been closed.
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