Soa

yorkshiredee

It does not make for attractive reading but this is what I came up with.

I would appreciate peoples opinions if these are realistic figures when I eventually save enough to become bankrupt.

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................ 828
Partners monthly income after tax....... 0
Benefits................................ 1253.78
Other income............................ 292
Total monthly income.................... 2373.78
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 159.9
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 92
Electricity............................. 65
Gas..................................... 60
Oil..................................... 0
Water rates............................. 37
Telephone (land line)................... 40
Mobile phone............................ 45
TV Licence.............................. 12
Satellite/Cable TV...................... 21
Internet Services....................... 0
Groceries etc. ......................... 350
Clothing................................ 50
Petrol/diesel........................... 130
Road tax................................ 12
Car Insurance........................... 84
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 586
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 26
Buildings insurance..................... 0
Contents insurance...................... 13
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 25
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2372.9

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 4000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 4770.....(159.9)....0
Total secured & HP debts...... 4770......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
loan lloyds....................6258.36...209.9.....0
barclay card...................8689.53...340.......0
card lloyds....................16143.9...360.......0
overdraft lloyds...............1500......15........0
next...........................341.02....5.........0
Total unsecured debts..........32932.81..929.9.....-

Monthly Budget Summary
Total monthly income.................... 2,373.78
Expenses (including HP & secured debts). 2,372.9
Available for debt repayments........... 0.88
Monthly UNsecured debt repayments....... 929.9
Amount short for making debt repayments. -929.02
Personal Balance Sheet Summary
Total assets (things you own)........... 4,000
Total HP & Secured debt................. -4,770
Total Unsecured debt.................... -32,932.81
Net Assets.............................. -33,702.81
Created using the SOA calculator at
Reproduced on Moneysavingexpert with permission, using IE browser.

fredfedup

Replied to this on your other thread. Will look at it ASAP. But got to get the monkeys to school first!

Sunnylooloo

Hi YD

sorry a bit new here myself, I don't think you are allowed money for entertainment or presents - however I think you can have money for holidays - some wise person will tell you how much.

Phones I think you have to put together land line and mobile (again someone will let you know).

I'm don't also think you can have sky/cable this has to come out of any surplus.

Sorry not much help but this will give you a little bump up for someone else to comment.

Good luck

immoral_angeluk

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 2 Are you getting child maintenance?
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 828
Partners monthly income after tax....... 0
Benefits................................ 1253.78
Other income............................ 292
Total monthly income.................... 2373.78
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 159.9
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 92 Are you getting your single person discount? Did a quick check but you wouldn't be eligible for council tax benefit based on my calculation, but it's worth checking again with the council.
Electricity............................. 65
Gas..................................... 60 - both high, are you in arrears? If not shop around for a better deal.
Oil..................................... 0
Water rates............................. 37 - if you pay this in 8 installments you can call and ask them to spread it over 10 or 12, depending on your water company, to reduce the monthly cost.
Telephone (land line)................... 40
Mobile phone............................ 45 - both phone bills are very high. Any reason? Reduce packages or get a better deal for your mobile which would be able to cut your landline bill down or visa versa.
TV Licence.............................. 12
Satellite/Cable TV...................... 21 - the OR would probably ask you to cancel this.
Internet Services....................... 0
Groceries etc. ......................... 350- this could be reduced but is well within the BBA trigger figures so would be acceptable to the OR.
Clothing................................ 50 - every month? Do you have a high profile job? Otherwise there is no need to spend this much every month really, that or bargain hunt in charity shops etc.
Petrol/diesel........................... 130
Road tax................................ 12
Car Insurance........................... 84 - this is very high, any reason?
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 586
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 26 - if you get housing benefit (see notes below) you would be eligible for free PDSA vet care. Check out www.pdsa.org.uk.
Buildings insurance..................... 0
Contents insurance...................... 13 seems high, you should be able to get cheaper.
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 25 - every month? Is this neccesary?
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2372.9

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 4000

Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 4770.....(159.9)....0
Total secured & HP debts...... 4770......-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
loan lloyds....................6258.36...209.9.....0
barclay card...................8689.53...340.......0
card lloyds....................16143.9...360.......0
overdraft lloyds...............1500......15........0
next...........................341.02....5........ .0
Total unsecured debts..........32932.81..929.9.....-

Monthly Budget Summary
Total monthly income.................... 2,373.78
Expenses (including HP & secured debts). 2,372.9
Available for debt repayments........... 0.88
Monthly UNsecured debt repayments....... 929.9
Amount short for making debt repayments. -929.02
Personal Balance Sheet Summary
Total assets (things you own)........... 4,000
Total HP & Secured debt................. -4,770
Total Unsecured debt.................... -32,932.81
Net Assets.............................. -33,702.81
Created using the SOA calculator at
Reproduced on Moneysavingexpert with permission, using IE browser.



Based on the information you've provided there I ran a quick benefit check for you. You may be eligible for some housing benefit/local housing allowance. My calculation came up at £33 a week but bare in mind that's just going off what you've put there and probably isn't 100% accurate. I also went off the tax credits my system said you should be receiving. Contact your local council or have a look at their website as there may be an online calculator you can use to check for yourself.

NB: please don't consititute this as professional advice re the benefits, it would be advisable to go speak to either your local CAB or council's benefits department for better clarification as it's impossible to say with 100% certainty over t'internet!