Latest version of SOA

Matt1982

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned....................
Monthly Income Detail
Monthly income after tax................ 990
Partners monthly income after tax....... 619 (girlfriend contribution to bills etc)
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1609
Monthly Expense Details[/b]
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 645
Management charge (leasehold property).. 0
Council tax............................. 95
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 45
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 450
Clothing................................ 60
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 90
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 16
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 15
Entertainment........................... 25
Holiday................................. 50
Emergency fund.......................... 12
Total monthly expenses.................. 1605

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
iva............................40000.....300.......0
Total unsecured debts..........40000.....300.......

Monthly Budget Summary
Total monthly income.................... 1,609
Expenses (including HP & secured debts). 1,605
Available for debt repayments........... 4
Monthly UNsecured debt repayments....... 300
Amount short for making debt repayments. -296
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -40,000
Net Assets.............................. -40,000


Thanks

fiveyearplan

Matt1982 wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned....................
Monthly Income Detail
Monthly income after tax................ 990
Partners monthly income after tax....... 619 (girlfriend contribution to bills etc)
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1609
Monthly Expense Details[/b]
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 645
Management charge (leasehold property).. 0
Council tax............................. 95
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 45
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 450 400
Clothing................................ 60
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 90
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 16
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 not usually allowed
Haircuts................................ 15 10
Entertainment........................... 25 definitely not allowed
Holiday................................. 50 may not be allowed this much
Emergency fund.......................... 12 usually not allowed
Total monthly expenses.................. 1605

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
iva............................40000.....300.......0
Total unsecured debts..........40000.....300.......

Monthly Budget Summary
Total monthly income.................... 1,609
Expenses (including HP & secured debts). 1,605
Available for debt repayments........... 4
Monthly UNsecured debt repayments....... 300
Amount short for making debt repayments. -296
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -40,000
Net Assets.............................. -40,000


Thanks

I've made some comments above. Regarding internet, it may not be allowed if it isn't necessary for work/study. You could lower your g/f's contribution by that amount and take it off SOA. Clothing allowance is for you only so not sure if £60 is too much. Medical might be £25 but leave as £30 unless other people comment.

How much if your girlfriend's total income? You may be able to decrease her contribution.

Matt1982

Internet - I kind argue keeps me up todate with industry (work in mortgages)...what you reckon?

Contribution yes happy to lower but will they not expect this to be 50/50? Her employed income is approx £800 net per month plus does a bit of self employment (but do I need to mention this).

Think I could get away with higher clothing allowance...work in an office so need suit etc?

fiveyearplan

Because her income is less than yours she wouldn't be expected to pay exactly half. Decrease it to £550 (that leaves her £250 per month for her own personal expenses which doesn't seem unreasonable to me - see what others think) but definitely you won't get away with presents, emergency fund etc.

Matt1982

She has a car loan (her car loan) which is £120 at month based on this can I reduce her commitment more?

fiveyearplan

I just saw another thread of yours with IPA and SOA etc. Its easier to keep these things to one thread, because you posted this revised SOA I haven't seen anyone else's comments on any of your previous ones.

fiveyearplan

Matt1982 wrote: »

She has a car loan (her car loan) which is £120 at month based on this can I reduce her commitment more?

I wouldn't reduce it below £550.

tech2_2

fiveyearplan wrote: »

Because her income is less than yours she wouldn't be expected to pay exactly half. Decrease it to £550 (that leaves her £250 per month for her own personal expenses which doesn't seem unreasonable to me - see what others think) but definitely you won't get away with presents, emergency fund etc.

I agree we have 2 kids and presents not allowed & emergency fund.

Internet £10 up the land line to £50 - 60

Do you have any professional fees?

I would not mention self employ bit ( does she declare it? OK THEN)

Clothing you might get away with but what about dry cleaners? £15

Is contents ins new for old? it will go up when you tell them u have gon BR so £18-20

I would lower g/freinds contribution but not sure to what? others will help wioth this
Tech2

Matt1982

What if I am mistaken and my girlfriend income is also slightly lower

philnicandamy

so now your saying its not what you listed on the SOA?? you will have to be 100% certain with the figures if the OR thinks your OH isnt paying her way they'll come down hard as well as if they thing your being a little "creative" with your figures

I cant keep track of all these threads....:rolleyes:

fiveyearplan

philnicandamy wrote: »

I cant keep track of all these threads....:rolleyes:

Neither can I. OP won't be getting good advice as no one can keep track (well I can't anyway).