We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
We're aware that dates on the Forum are not currently showing correctly. Please bear with us while we get this fixed, and see Site feedback for updates.

Soa

singlemummy_3
singlemummy_3 Posts: 3 Newbie
edited 18 March 2010 pm31 12:31PM in Bankruptcy & living with it
Can anyone give me advice on my statement of affairs?? Thank you so much.


Statement of Affairs & Personal Balance Sheet

Summary

Monthly Budget SummaryAmount(£)Total monthly income2,880Monthly expenses (incl. HP & secured loans)2,808Available for debt repayments72UNsecured debt repayments0Amount left after debt repayments72

Personal Balance Sheet SummaryAmount(£)Total Assets (things you own)1,800Total Secured & HP Debt-0Total Unsecured Debt-27,635Net Assets-25,835
Household Information

Number of adults in household1Number of children in household2Number of cars owned1
Income, Expense, Debt & Asset Details

IncomeAmount(£)Monthly income after tax1078Partners monthly income0Benefits1369Other income433Total monthly income2880

ExpensesAmount(£)Mortgage0Secured/HP loan payments0Rent725Management charge (leasehold property)0Council tax88Electricity38Gas46Oil0Water Rates66Telephone (land line)0Mobile phone35TV Licence12Satellite/Cable TV30Internet services0Groceries etc.418Clothing80Petrol/diesel140Road tax16Car Insurance49Car maintenance (including MOT)15Car Parking10Other travel0Childcare/nursery920Other child related expenses24Medical (prescriptions, dentists, opticians etc.)0Pet Insurance/Vet bills0Buildings Insurance0Contents Insurance16Life Assurance0Other Insurance0Presents (birthday, christmas etc.)0Haircuts30Entertainment0Holiday50Emergency Fund0Total monthly expenses2808

Secured & HP Debt DescriptionDebt(£)Monthly(£)APR(%)Mortgage0(0) 0Secured & HP Debt totals0- -

Unsecured Debt DescriptionDebt(£)Monthly(£)APR(%)credit cards2763500Unsecured Debt totals276350-

Comments

  • dojoman
    dojoman Posts: 12,027 Forumite
    Please use the link below and repost your SOA :)

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

    Once complete just use the format for MSE button.
    :pB&SC No. 298
    Life`s Tragedy is that we get OLD too soon
    and WISE too late!
  • Statement of Affairs and Personal Balance Sheet
    Household Information

    Number of adults in household........... 1
    Number of children in household......... 2
    Number of cars owned.................... 1
    Monthly Income Details

    Monthly income after tax................ 1078
    Partners monthly income after tax....... 0
    Benefits................................ 1369
    Other income............................ 433
    Total monthly income.................... 2880

    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 725
    Management charge (leasehold property).. 0
    Council tax............................. 88
    Electricity............................. 38
    Gas..................................... 46
    Oil..................................... 0
    Water rates............................. 56
    Telephone (land line)................... 30
    Mobile phone............................ 35
    TV Licence.............................. 12
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 418
    Clothing................................ 80
    Petrol/diesel........................... 140
    Road tax................................ 16
    Car Insurance........................... 49
    Car maintenance (including MOT)......... 15
    Car parking............................. 10
    Other travel............................ 0
    Childcare/nursery....................... 920
    Other child related expenses............ 24
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 16
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 30
    Entertainment........................... 0
    Holiday................................. 50
    Emergency fund.......................... 0
    Total monthly expenses.................. 2798


    Assets

    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 1800
    Other assets............................ 0
    Total Assets............................ 1800


    No Secured nor Hire Purchase Debts

    Unsecured Debts
    Description....................Debt......Monthly...APR
    Credit cards...................27600.....0.........0
    Total unsecured debts..........27600.....0.........-


    Monthly Budget Summary

    Total monthly income.................... 2,880
    Expenses (including HP & secured debts). 2,798
    Available for debt repayments........... 82
    Monthly UNsecured debt repayments....... 0
    Amount left after debt repayments....... 82

    Personal Balance Sheet Summary
    Total assets (things you own)........... 1,800
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -27,600
    Net Assets.............................. -25,800
  • dojoman
    dojoman Posts: 12,027 Forumite
    That looks OK to me, the only thing the OR may query is the childcare costs but I I am no expert on this, hopefully someone else will be along shortly who can help!
    :pB&SC No. 298
    Life`s Tragedy is that we get OLD too soon
    and WISE too late!
  • sizzler
    sizzler Posts: 5,094 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Hi there.

    Looks ok. Some ORs will not allow mobile phone so put this in with your landline.

    sizzler:)

    hi dojo:wave:
  • I work full time and both children have to go to a childminder.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.3K Banking & Borrowing
  • 252.1K Reduce Debt & Boost Income
  • 452.4K Spending & Discounts
  • 240.9K Work, Benefits & Business
  • 617.2K Mortgages, Homes & Bills
  • 175.7K Life & Family
  • 254.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.