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Revised SOA

korben556
Posts: 111 Forumite
After bouncing back and forth, we have decided I will have to go BR first.
This is my attempt at an SOA for me, any tips much appreciated.
Told my MD was going BR and she was great!
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1550
Partners monthly income after tax....... 650
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2200
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 795
Management charge (leasehold property).. 0
Council tax............................. 156 (joint names, not sure if will be included, although they are taking us to court)
Electricity............................. 65
Gas..................................... 60
Oil..................................... 0
Water rates............................. 68
Telephone (land line)................... 36
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 27 (need for work/school)
Groceries etc. ......................... 550
Clothing................................ 70
Petrol/diesel........................... 50
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 60 (Bus/lunch money)
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Dry Cleaning............................ 12
Total monthly expenses.................. 2081
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Bank ..........................10700.....0.........0 (joint names)
Inland Revenue.................55000.....0.........0
Previous Gas/Elec..............1900......0.........0
Mobile.........................163.......0.........0
Credit card....................1400......0.........0
2nd Charge.....................15000.....0.........0 (estimate joint names)
Total unsecured debts..........84163.....0.........-
Monthly Budget Summary
Total monthly income.................... 2,200
Expenses (including HP & secured debts). 2,081
Available for debt repayments........... 119
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 119
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -84,163
Net Assets.............................. -84,163
Thanks in advance for any tips.
This is my attempt at an SOA for me, any tips much appreciated.
Told my MD was going BR and she was great!
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1550
Partners monthly income after tax....... 650
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2200
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 795
Management charge (leasehold property).. 0
Council tax............................. 156 (joint names, not sure if will be included, although they are taking us to court)
Electricity............................. 65
Gas..................................... 60
Oil..................................... 0
Water rates............................. 68
Telephone (land line)................... 36
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 27 (need for work/school)
Groceries etc. ......................... 550
Clothing................................ 70
Petrol/diesel........................... 50
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 60 (Bus/lunch money)
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Dry Cleaning............................ 12
Total monthly expenses.................. 2081
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Bank ..........................10700.....0.........0 (joint names)
Inland Revenue.................55000.....0.........0
Previous Gas/Elec..............1900......0.........0
Mobile.........................163.......0.........0
Credit card....................1400......0.........0
2nd Charge.....................15000.....0.........0 (estimate joint names)
Total unsecured debts..........84163.....0.........-
Monthly Budget Summary
Total monthly income.................... 2,200
Expenses (including HP & secured debts). 2,081
Available for debt repayments........... 119
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 119
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -84,163
Net Assets.............................. -84,163
Thanks in advance for any tips.
0
Comments
-
Forgot Council Tax - although in joint names we are due to go to court on 9th Dec' - can this be included?
Household Information[/b]
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1550
Partners monthly income after tax....... 650
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2200
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 795
Management charge (leasehold property).. 0
Council tax............................. 156
Electricity............................. 65
Gas..................................... 60
Oil..................................... 0
Water rates............................. 68
Telephone (land line)................... 36
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 27
Groceries etc. ......................... 550
Clothing................................ 70
Petrol/diesel........................... 50
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 60
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Dry Cleaning............................ 12
Total monthly expenses.................. 2081
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Bank ..........................10700.....0.........0
Inland Revenue.................55000.....0.........0
Previous Gas/Elec..............1900......0.........0
Council Tax ...................1100......0.........0
Mobile.........................163.......0.........0
Credit card....................1400......0.........0
2nd Charge.....................15000.....0.........0
Total unsecured debts..........85263.....0.........-
Monthly Budget Summary
Total monthly income.................... 2,200
Expenses (including HP & secured debts). 2,081
Available for debt repayments........... 119
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 119
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -85,263
Net Assets.............................. -85,263
Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.[/font]0 -
My house was reposessed and I think is going through the sale process right now, should I include the mortgage? The sale will easily cover it, although I have allowed for a shortfall onn the second charge which is in my SAO.
Sorry for all the questions, this is just so worrying.
Thnaks0 -
Hi Korben,
Unfortunatley as it's only you going BR your OH will be liable for the council tax, in full.
Yes, you do put your mortgage on the forms as you still have the mortgage until the house is sold and they are paid off.Accept your past without regret, handle your present with confidence and face your future without fear0 -
I have added mortgage etc - wow adds up to a lot of money!
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1550
Partners monthly income after tax....... 650
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2200
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 795
Management charge (leasehold property).. 0
Council tax............................. 156
Electricity............................. 65
Gas..................................... 60
Oil..................................... 0
Water rates............................. 68
Telephone (land line)................... 36
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 27
Groceries etc. ......................... 550
Clothing................................ 70
Petrol/diesel........................... 50
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 60
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Dry Cleaning............................ 12
Total monthly expenses.................. 2081
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 178000...(0)........0
Secured Debt.................. 50000....(0)........0
Total secured & HP debts...... 228000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Bank ..........................10700.....0.........0
Inland Revenue.................55000.....0.........0
Previous Gas/Elec..............1900......0.........0
Council Tax ...................1100......0.........0
Mobile.........................163.......0.........0
Credit card....................1400......0.........0
Total unsecured debts..........70263.....0.........-
Monthly Budget Summary
Total monthly income.................... 2,200
Expenses (including HP & secured debts). 2,081
Available for debt repayments........... 119
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 119
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -228,000
Total Unsecured debt.................... -70,263
Net Assets.............................. -298,2630 -
I have not had much response to this one, so will assume that it's good to go?
Thanks0 -
Hi korben
I am rubbish at SOA`s but just noticed under car - insurance, mot.road tax ( or contribution towards) the values are nil , Phone & internet services ( as combined figure) seem high....any way of cutting cost by switching provider?
I am thinking holiday funds may be a no-no but sure others will add comment.
Hope this bumps for further suggestion.
Angiexx0 -
hi korben
i notice you pay petrol but no other car related expenses?
your water seems high, does this include arrears?
i'm sure someone more knowledgable will be along in a bit to help, sorry i can't add much0 -
Sorry, should have said, no car expenses other than fuel as I have a company car, my wife pays for her car costs.
The water does include arrears.
I'll take a look at the phone costs too.
Thanks for the feedback.0 -
I have added mortgage etc - wow adds up to a lot of money!
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1550
Partners monthly income after tax....... 650
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2200
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 795
Management charge (leasehold property).. 0
Council tax............................. 156
Electricity............................. 65 will this be enough to cover winter as well?
Gas..................................... 60 Ditto
Oil..................................... 0
Water rates............................. 68 do this without arrears
Telephone (land line)................... 36
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 27 usually NOT allowed unless for work/school use otherwise from surplus if any
Groceries etc. ......................... 550
Clothing................................ 70
Petrol/diesel........................... 50
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 60 whats this?
Medical (prescriptions, dentist etc).... 10 seems low...
Pet insurance/vet bills................. 20 £25
Buildings insurance..................... 0
Contents insurance...................... 15 has this accidental damage cover as well? something you should look at before going BR
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Dry Cleaning............................ 12 £15
Total monthly expenses.................. 2081
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 178000...(0)........0
Secured Debt.................. 50000....(0)........0
Total secured & HP debts...... 228000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Bank ..........................10700.....0.........0
Inland Revenue.................55000.....0.........0
Previous Gas/Elec..............1900......0.........0
Council Tax ...................1100......0.........0
Mobile.........................163.......0.........0
Credit card....................1400......0.........0
Total unsecured debts..........70263.....0.........-
Monthly Budget Summary
Total monthly income.................... 2,200
Expenses (including HP & secured debts). 2,081
Available for debt repayments........... 119
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 119
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -228,000
Total Unsecured debt.................... -70,263
Net Assets.............................. -298,263
Just a few small thoughts...:DWe all die. The goal isn't to live forever, the goal is to create something that will0 -
have put some notes against my SOA
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1550
Partners monthly income after tax....... 650
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2200
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 795
Management charge (leasehold property).. 0
Council tax............................. 156
Electricity............................. 65 will this be enough to cover winter as well?Not sure
Gas..................................... 60 Ditto
Oil..................................... 0
Water rates............................. 68 do this without arrears Will have to recalculate thanks
Telephone (land line)................... 36
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 27 usually NOT allowed unless for work/school use otherwise from surplus if any This is for work and school
Groceries etc. ......................... 550
Clothing................................ 70
Petrol/diesel........................... 50
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 60 whats this?
Medical (prescriptions, dentist etc).... 10 seems low...£20 better?
Pet insurance/vet bills................. 20 £25
Buildings insurance..................... 0
Contents insurance...................... 15 has this accidental damage cover as well? something you should look at before going BR No, will re-visit this
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Dry Cleaning............................ 12 £15 Cool
Total monthly expenses.................. 2081
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 178000...(0)........0
Secured Debt.................. 50000....(0)........0
Total secured & HP debts...... 228000....-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
Bank ..........................10700.....0.........0
Inland Revenue.................55000.....0.........0
Previous Gas/Elec..............1900......0.........0
Council Tax ...................1100......0.........0
Mobile.........................163.......0........ .0
Credit card....................1400......0.........0
Total unsecured debts..........70263.....0.........-
Monthly Budget Summary
Total monthly income.................... 2,200
Expenses (including HP & secured debts). 2,081
Available for debt repayments........... 119
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 119
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -228,000
Total Unsecured debt.................... -70,263
Net Assets.............................. -298,263
I will get in touch with water to find out - thanks0
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