Newbie 1st post - SOA Included

moneysaver09

Hi

I have been a lurker on this site for a while, posted once before but didnt keep up with advice, but had a baby a few months ago and realised we need to get our debts sorted out.

Any help will be greatly appreciated


Statement of Affairs and Personal Balance Sheet

Household Information

Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details

Monthly income after tax................ 987
Partners monthly income after tax....... 400
Benefits................................ 120
Other income............................ 80
Total monthly income.................... 1587

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 175
Rent.................................... 380
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 11
Mobile phone............................ 85
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 130
Clothing................................ 0
Petrol/diesel........................... 80
Road tax................................ 0
Car Insurance........................... 65
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1073

Assets

Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 9500
Other assets............................ 0
Total Assets............................ 9500


Secured & HP Debts

Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 8000.....(175)......5.5
Total secured & HP debts...... 8000......-.........-


Unsecured Debts

Description....................Debt......Monthly...APR
Loan...........................16000.....419.......21.9
Loan...........................5000......138.6.....21.9
Catalogue......................1500......180.......0
Overdraft......................500.......5.........1.28
Total unsecured debts..........23000.....742.6.....


Monthly Budget Summary

Total monthly income.................... 1,587
Expenses (including HP & secured debts). 1,073
Available for debt repayments........... 514
Monthly UNsecured debt repayments....... 742.6
Amount short for making debt repayments. -228.6


Personal Balance Sheet Summary

Total assets (things you own)........... 9,500
Total HP & Secured debt................. -8,000
Total Unsecured debt.................... -23,000
Net Assets.............................. -13,500

Prudent

Are your groceries correct at £50 per month?

How many mobiles does the £85 cover. This seems very high.

moneysaver09

Thanks for your reply. have amended groceries to 130 as 50 was incorrect.

85 is for 2 mobiles and no way of reducing as yet for about another 8 months

QueenBeruthiel

No road tax? No entertainment or presents?