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SOA for checking please - thanks

[Deleted User]
[Deleted User] Posts: 0 Newbie
Part of the Furniture Combo Breaker
edited 24 March 2010 pm31 3:27PM in Bankruptcy & living with it
I've effectively done 2 individual SOA's and then combined then = result with my comments highlighting where DH income goes (this makes it understandable to me) - any comments appreciated.
Payments already already accounted for from Business expenses - Mileage covers my car (just) petrol, parking, mob phone - can't think of anything else

Statement of Affairs and Personal Balance Sheet

Household Information

Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2

Monthly Income Details

Monthly income after tax................ 100 [avg 2009/10 per month]
Partners monthly income after tax....... 1800
Benefits................................ 0
Other income............................ 434
Total monthly income.................... 2334
[DH 1800 me 534]

Monthly Expense Details

Mortgage................................ 418.1
Secured/HP loan repayments.............. 0
Rent.................................... 675
Management charge (leasehold property).. 0
Council tax............................. 179
Electricity............................. 30
Gas..................................... 40
Oil..................................... 0
Water rates............................. 75
Telephone (land line)................... 30
Mobile phone............................ 20 [DH]
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 400 [DH 300 me 100 if I can]
Clothing................................ 30 [DH 20 me 10]
Petrol/diesel........................... 100]
Road tax................................ 16
Car Insurance........................... 20
Car maintenance (including MOT)......... 75
Car parking............................. 10
Other travel............................ 105 [DH Bike]
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10 [DH 5 me 5 for specs]
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 12 [landlords ins]
Presents (birthday, christmas etc)...... 5
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 30 [DH 25 me 5]
Emergency fund..........................
OH CCard repayment...................... 20
Total monthly expenses.................. 2317.1
[DH 1762 me 555.1]


Assets

Cash.................................... 0
House value (Gross)..................... 99995 [for Sale at]
Shares and bonds........................ 0
Car(s).................................. 600 [mine only for business, DH uses his for work]
Other assets............................ 800 [my 125cc bike]
Total Assets............................ 101395



Secured & HP Debts

Description....................Debt......Monthly...APR
Mortgage...................... 99578....(418.1)....0 [last BS statement]
Total secured & HP debts...... 99578.....-.........-


Unsecured Debts
Description....................Debt......Monthly...APR
CC.............................14536.....380.......0
CC.............................7656......185.......0
Flexiloan......................10414.....250.......0
cc.............................3663......80........0
cc/bank........................3401......75........0
Total unsecured debts..........39670.....970.......-



Monthly Budget Summary

Total monthly income.................... 2,334
Expenses (including HP & secured debts). 2,317.1
Available for debt repayments........... 16.9 [from DH]
Monthly UNsecured debt repayments....... 970 [me]
Amount short for making debt repayments. -953.1


Personal Balance Sheet Summary
Total assets (things you own)........... 101,395
Total HP & Secured debt................. -99,578
Total Unsecured debt.................... -39,670
Net Assets.............................. -37,853


Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.
«1

Comments

  • IF
    IF Posts: 34,349 Forumite
    10,000 Posts Combo Breaker
    Just bumping for you lbm x
    "If wishes were horses, then beggars would ride"
  • You have rent and a mortgage? Is it BTL?
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • Household Information
    Number of adults in household........... 2
    Number of children in household......... 0
    Number of cars owned.................... 2

    Monthly Income Details

    Monthly income after tax................ 100 [avg 2009/10 per month]
    Partners monthly income after tax....... 1800
    Benefits................................ 0
    Other income............................ 434
    Total monthly income.................... 2334
    [DH 1800 me 534]

    Monthly Expense Details

    Mortgage................................ 418.1
    Secured/HP loan repayments.............. 0
    Rent.................................... 675
    Management charge (leasehold property).. 0
    Council tax............................. 179 :eek: Why?? Would they accept spreading it over a longer period, ie 12 months instead of 10? Same for water.
    Electricity............................. 30
    Gas..................................... 40
    Oil..................................... 0
    Water rates............................. 75 What?? Why? Are you in arrears?? How long is this over?
    Telephone (land line)................... 30
    Mobile phone............................ 20 [DH]
    TV Licence.............................. 12
    Satellite/Cable TV...................... 0
    Internet Services....................... 0 Is your internet free then?
    Groceries etc. ......................... 400 [DH 300 me 100 if I can] You could cut this down massively. Check out the OS board.
    Clothing................................ 30 [DH 20 me 10] Do you really need to buy clothes every month? Use charity shops etc.
    Petrol/diesel........................... 100]
    Road tax................................ 16
    Car Insurance........................... 20
    Car maintenance (including MOT)......... 75 This is very high, why?
    Car parking............................. 10
    Other travel............................ 105 [DH Bike]
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 10 [DH 5 me 5 for specs]
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0 No contents insurance? you need this even if renting.
    Life assurance ......................... 0
    Other insurance......................... 12 [landlords ins] Do you need this if you're selling up?
    Presents (birthday, christmas etc)...... 5
    Haircuts................................ 5
    Entertainment........................... 0
    Holiday................................. 30 [DH 25 me 5] Do you need to save this much for a holiday every month? Or is it one already booked?
    Emergency fund..........................
    OH CCard repayment...................... 20
    Total monthly expenses.................. 2317.1
    [DH 1762 me 555.1]


    Assets

    Cash.................................... 0
    House value (Gross)..................... 99995 [for Sale at]
    Shares and bonds........................ 0
    Car(s).................................. 600 [mine only for business, DH uses his for work]
    Other assets............................ 800 [my 125cc bike]
    Total Assets............................ 101395



    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 99578....(418.1)....0 [last BS statement]
    Total secured & HP debts...... 99578.....-.........-


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    CC.............................14536.....380...... .0
    CC.............................7656......185...... .0
    Flexiloan......................10414.....250...... .0
    cc.............................3663......80....... .0
    cc/bank........................3401......75........0
    Total unsecured debts..........39670.....970.......-



    Monthly Budget Summary

    Total monthly income.................... 2,334
    Expenses (including HP & secured debts). 2,317.1
    Available for debt repayments........... 16.9 [from DH] This doesn't add up as above you say his CC was £20?
    Monthly UNsecured debt repayments....... 970 [me]
    Amount short for making debt repayments. -953.1
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • sizzler
    sizzler Posts: 5,094 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    thanks angel im just looking through myself:)
  • sizzler
    sizzler Posts: 5,094 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 10 November 2023 pm30 2:49PM
    lbm wrote: »
    I've effectively done 2 individual SOA's and then combined then = result with my comments highlighting where DH income goes (this makes it understandable to me) - any comments appreciated.
    Payments already already accounted for from Business expenses - Mileage covers my car (just) petrol, parking, mob phone - can't think of anything else

    Statement of Affairs and Personal Balance Sheet

    Household Information
    Number of adults in household........... 2
    Number of children in household......... 0
    Number of cars owned.................... 2

    Monthly Income Details
    Monthly income after tax................ 100 [avg 2009/10 per month]
    Partners monthly income after tax....... 1800
    Benefits................................ 0
    Other income............................ 434
    Total monthly income.................... 2334 [DH 1800 me 534]

    Monthly Expense Details
    Mortgage................................ 418.1
    Secured/HP loan repayments.............. 0
    Rent.................................... 675
    Management charge (leasehold property).. 0
    Council tax............................. 179this is high is it for two propertys. only one will be allowed.
    Electricity............................. 30
    Gas..................................... 40
    Oil..................................... 0
    Water rates............................. 75Very high is this per month.
    Telephone (land line)................... 30
    Mobile phone............................ 20 [DH]
    TV Licence.............................. 12
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 400 [DH 300 me 100 if I can]
    Clothing................................ 30 [DH 20 me 10]
    Petrol/diesel........................... 100]
    Road tax................................ 16
    Car Insurance........................... 20
    Car maintenance (including MOT)......... 75Vety high please can you explain.
    Car parking............................. 10
    Other travel............................ 105 [DH Bike]
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 10 [DH 5 me 5 for specs]
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 12 [landlords ins]
    Presents (birthday, christmas etc)...... 5
    Haircuts................................ 5
    Entertainment........................... 0
    Holiday................................. 30 [DH 25 me 5]
    Emergency fund..........................
    OH CCard repayment...................... 20
    Total monthly expenses.................. 2317.1 [DH 1762 me 555.1]


    Assets
    Cash.................................... 0
    House value (Gross)..................... 99995 [for Sale at]
    Shares and bonds........................ 0
    Car(s).................................. 600 [mine only for business, DH uses his for work]
    Other assets............................ 800 [my 125cc bike]
    Total Assets............................ 101395


    Secured & HP Debts
    Description....................Debt......Monthly...APR
    Mortgage...................... 99578....(418.1)....0 [last BS statement]
    Total secured & HP debts...... 99578.....-.........-

    Unsecured Debts
    Description....................Debt......Monthly...APR
    CC.............................14536.....380.......0
    CC.............................7656......185.......0
    Flexiloan......................10414.....250.......0
    cc.............................3663......80........0
    cc/bank........................3401......75........0
    Total unsecured debts..........39670.....970.......-


    Monthly Budget Summary
    Total monthly income.................... 2,334
    Expenses (including HP & secured debts). 2,317.1
    Available for debt repayments........... 16.9 [from DH]
    Monthly UNsecured debt repayments....... 970 [me]
    Amount short for making debt repayments. -953.1

    Personal Balance Sheet Summary
    Total assets (things you own)........... 101,395
    Total HP & Secured debt................. -99,578
    Total Unsecured debt.................... -39,670
    Net Assets.............................. -37,853

    Created using the SOA calculator at www.makesenseofcards.com.
    Reproduced on Moneysavingexpert with permission, using other browser.

    I hpoe this is some help sizzler:)
  • sizzler wrote: »
    I hpoe this is some help sizzler:)
    aaaaaaaaaah my eeeeeeeeeeeeeyes. What a colour.. :rotfl::rotfl::rotfl::cool:
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • You have rent and a mortgage? Is it BTL?
    Sort of - we moved region in 2007 (now rent) and unfortunately I haven't been able to sell my house (pre DH) so with permission rented it until sold - although I think that NR have 're-organised' it into a BTL because they passed me to a different dept last time I spoke to them
    I just want rid of it TBH it's been a nightmare and now in NE *sigh*
  • Is there any equity in the house?
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • sizzler
    sizzler Posts: 5,094 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    you got any equity?
  • Is there any equity in the house?
    Not now - when first put up for sale would have covered all my debt, now wouldn't cover mortgage esp as they're piling loads of charges on.

    Also haven't been able to find work (my niche doesn't exist anymore) so started completely new career but unfortunately self-employed and will take time to establish, still looking for p/t work too

    Tax & water - high because of paying back arrears (DH out of work for a while) tax will be 132, not sure about water;
    Car maint - DH car & will have better idea when get quote for exhaust & mot done soon.
    My main point is that I only pay for my personal care/clothes essentials and as much as I can to housekeeping whenever I earn some, DH is paying for everything and I'm the one that's unable to contribute to the household at present (and its hard when I was a decent earner and paid my way)

    Thanks so much for your time guys - I hope you know what a godsend you all are :beer:
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