SoA - your comments please

MovingForward_3

Hi

I'm about to go BR and intend to submit the following SoA.

My situation is that I'm a single dad, lodging with a family, and I have my 7-yr-old daughter stay with me 2 nights a week (thus I would argue I am entitled to 2/7ths of the allowance for grocery shopping for a child, for example, 1 school meal per week, etc).

Please review my figures and if you see I am under- or over-claiming in any category please let me know. Many thanks.

Oh, and if you know the definitive maximum allowances (I've read that these are higher for BR than IVA or DMP, but haven't seen evidence of this yet) then please post those too!

Cheers!

MovingForward
Rent 380
Electric 0
Gas 0
Council Tax 0
Water 0
TV Licence 0
Insurance 0
Telephone 0
Satellite TV 0
Maintenance (court order in place) 600
Motoring & Fares 97
Meals at work 20
School meals 8
Haircuts 12
Housekeeping 215
Clothing 20
Dry cleaning 10
Health 20
Cards & Gifts 0
Holiday 20
Social 15
Total Expenditure 1,417

tigerfeet2006

Please can you redo this using this template, many thanks.

http://www.makesenseofcards.com/soacalc.html

Am assuming that your rent includes all utilities etc.

dojoman

Please fill the SOA in on this site, link below, including your income etc, then repost and someone will be able to help you.

http://www.makesenseofcards.com/soacalc.html

Oops too slow again, the tiger is too fast for me

MovingForward_3

Thanks for tip, here it is again thus formatted.

I am self-employed so only 60% of my car costs are included as domestic expenditure, plus my telephone and internet costs are excluded as they are business expenditure.

To re-cap, I'm a single dad, lodging with a family, and I have my 7-yr-old daughter stay with me 2 nights a week, so am claiming extra for her accordingly.

The maintenance amount is total for child and spousal maintenance, and a court order is in place.

Your thoughts greatly appreciated, and if you have a link to the BR maximums for these categories I would love to see it!

MovingForward


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
Monthly income after tax................ 1487
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1487

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 380
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 0
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 215
Clothing................................ 20
Petrol/diesel........................... 42
Road tax................................ 10
Car Insurance........................... 20
Car maintenance (including MOT)......... 15
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 12
Entertainment........................... 15
Holiday................................. 20
Emergency fund.......................... 0
Meals at work........................... 20
Maintenance............................. 600
School meals............................ 8
Dry Cleaning............................ 10
Total monthly expenses.................. 1437


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Credit cards + loan............47000.....0.........0
HMRC...........................18000.....0.........0
Total unsecured debts..........65000.....0.........-


Monthly Budget Summary
Total monthly income.................... 1,487
Expenses (including HP & secured debts). 1,437
Available for debt repayments........... 50
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 50

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -65,000
Net Assets.............................. -64,500

Created using the SOA calculator at wwwdotmakesenseofcardsdotcom.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

tigerfeet2006

MovingForward wrote: »

Thanks for tip, here it is again thus formatted.

I am self-employed so only 60% of my car costs are included as domestic expenditure, plus my telephone and internet costs are excluded as they are business expenditure.

To re-cap, I'm a single dad, lodging with a family, and I have my 7-yr-old daughter stay with me 2 nights a week, so am claiming extra for her accordingly.

The maintenance amount is total for child and spousal maintenance, and a court order is in place.

Your thoughts greatly appreciated, and if you have a link to the BR maximums for these categories I would love to see it!

MovingForward


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
Monthly income after tax................ 1487 Am assuming that as you are SE that this the amount minus any business expenses.
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1487

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 380
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 0
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 215 Max. for one person is around £200 but understand your reasoning for this. Make a note on your paper work. Maybe try £250 you never know and if they reduce it the might not reduce to as low as £215
Clothing................................ 20 £50
Petrol/diesel........................... 42
Road tax................................ 10
Car Insurance........................... 20 make sure this is fully comp.
Car maintenance (including MOT)......... 15
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 most OR's won't allow.
Haircuts................................ 12
Entertainment........................... 15 not allowed
Holiday................................. 20 £40 you want to be able to take your child on a small break don't you. Make a note on the forms.
Emergency fund.......................... 0
Meals at work........................... 20 must come from groceries.
Maintenance............................. 600
School meals............................ 8
Dry Cleaning............................ 10
Total monthly expenses.................. 1437


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Credit cards + loan............47000.....0.........0
HMRC...........................18000.....0.........0
Total unsecured debts..........65000.....0.........-


Monthly Budget Summary
Total monthly income.................... 1,487
Expenses (including HP & secured debts). 1,437
Available for debt repayments........... 50
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 50

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -65,000
Net Assets.............................. -64,500

Created using the SOA calculator at wwwdotmakesenseofcardsdotcom.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

Have a play with those figures.

MovingForward_3

Thanks for that, very useful indeed.

Yes income is net of all business expenses and tax.

Re car insurance, what's your reasoning here? I ordinarily wouldn't incur extra cost for such an old car. Is your reasoning that if I crash it I'll be able to afford to replace it?

Is £50 for clothes really allowable? I'm amazed.

Thanks again.

Lost2

Hi MF, Just to say that I was allowed £40 for medical
as this is not only for prescriptions but also going to the dentist
and going to the opticians.

tigerfeet2006

MovingForward wrote: »

Thanks for that, very useful indeed.

Yes income is net of all business expenses and tax.

Re car insurance, what's your reasoning here? I ordinarily wouldn't incur extra cost for such an old car. Is your reasoning that if I crash it I'll be able to afford to replace it?

Is £50 for clothes really allowable? I'm amazed.

Thanks again.

Yup! something like that and any other expenses that can be incurred in an accident. You should probably also get breakdown cover as well. We just used ours as the clutch went on the car and they took it from home to the garage.

dottydora

I think the OR technical manual gives details of the min/max amounts considered for essential outgoings and I'm sure this can be found in the sticky at the top of the page where the posts are listed and is called something like look here first, bancruptcy info.