SOA help

stevemarsh1976

Ok getting very confused with my soa so I am going to post 2 if thats ok.

The first shows the situation as it stands now and essentially the reason for br

The second includes my debts but instead of the mortgage payments I am making now shows the rent/bills I will be paying to my OH as this is where I will be living when I hand back the keys to my house..I am just unsure when to go br before I hand back the keys or after.

Obviously the second SOA gives me a posative net monthly but takes into no account the debt I will be left with once the house is sold by mortgage company which is the reason for my br. Is this the one they want to see tho and will it be a problem ?

Sorry if this doesnt make sence but it doesnt to me much at the moment and im getting my head in a twist

NOW

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................ 1658
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1658

Monthly Expense Details
Mortgage................................ 550
Secured/HP loan repayments.............. 97
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 124
Electricity............................. 40
Gas..................................... 60
Oil..................................... 0
Water rates............................. 34
Telephone (land line)................... 40
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 21
Groceries etc. ......................... 170
Clothing................................ 50
Petrol/diesel........................... 100
Road tax................................ 20
Car Insurance........................... 45
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 0
Buildings insurance..................... 15
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
Total monthly expenses.................. 1493


Assets
Cash.................................... 0
House value (Gross)..................... 110000
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 114000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 117000...(550)......5.4
Secured Debt.................. 11200....(97).......0
Total secured & HP debts...... 128200....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Egg Credit Card................2480......84........0
TSB Overdrafts.................2200......50........0
TSB Loan......................7800......200.......0
Loan friend took for me.........2600......60........0 I am paying this and have to continue to do so regardless what happens but assume I cannot include for the OR
TSB Master card................583.......12........0
GE Money.......................300.......19.99.....0
O2 debt........................78........15........0
Total unsecured debts..........16041.....440.99....-


Monthly Budget Summary
Total monthly income.................... 1,658
Expenses (including HP & secured debts). 1,493
Available for debt repayments........... 165
Monthly UNsecured debt repayments....... 440.99
Amount short for making debt repayments. -275.99

Personal Balance Sheet Summary
Total assets (things you own)........... 114,000
Total HP & Secured debt................. -128,200
Total Unsecured debt.................... -16,041
Net Assets.............................. -30,241

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

AFTER I HAND KEYS BACK

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................ 1658
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1658

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 350
Management charge (leasehold property).. 0
Council tax............................. 90
Electricity............................. 30
Gas..................................... 50
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 40
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 170
Clothing................................ 50
Petrol/diesel........................... 100
Road tax................................ 20
Car Insurance........................... 45
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 1117


Assets
Cash.................................... 0
House value (Gross)..................... 110000
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 114000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 117000...(0)........5.4
Secured Debt.................. 11200....(0)........0
Total secured & HP debts...... 128200....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Egg Credit Card................2480......84........0
TSB Overdrafts.................2200......50........0
TSB Loan......................7800......200.......0
TSB Master card................583.......12........0
GE Money.......................300.......19.99.....0
O2 debt........................78........15........0
Total unsecured debts..........13441.....380.99....-


Monthly Budget Summary
Total monthly income.................... 1,658
Expenses (including HP & secured debts). 1,117
Available for debt repayments........... 541
Monthly UNsecured debt repayments....... 380.99
Amount left after debt repayments....... 160.01

Personal Balance Sheet Summary
Total assets (things you own)........... 114,000
Total HP & Secured debt................. -128,200
Total Unsecured debt.................... -13,441
Net Assets.............................. -27,641

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

skylight

You need to do only one. Similar to the second. But you need to list ALL household outgoings and list your partners share to the household bills. So, council tax - £90 for one = £180 for two and now your partners contribution will equal £90. Electric is £40, so your partners contribution now equals £110. Does this make sense??

The OR will want to see your partners contribution and proper household expenses. They want to see this so that you can prove you are not the one paying all the bills so as to deliberately avoid an IPA.

stevemarsh1976

skylight wrote: »

You need to do only one. Similar to the second. But you need to list ALL household outgoings and list your partners share to the household bills. So, council tax - £90 for one = £180 for two and now your partners contribution will equal £90. Electric is £40, so your partners contribution now equals £110. Does this make sense??

The OR will want to see your partners contribution and proper household expenses. They want to see this so that you can prove you are not the one paying all the bills so as to deliberately avoid an IPA.

superb thanks yes it makes perfect sence the figures listed are half of what my OH pays on utilities and mortgage as its stands so I will just list them as double and then I assume there is somewhere I can list my partners contribution, or do I have to actually list her income ...bear in mind we dont live together yet.

Will the OR want to see utility bills and will he want my OH payslips ? she earns more than me considerably but I "will" be paying half of rent bills etc, providing the utilites wont be an issue obviously but I really wouldnt want my OH wages scrutinesed or anything

skylight

No, you don't have to list her income, just her contribution.

ORs don't really ever ask to see bills and not your partners wages slips either. A lot in BR is done on trust, but if they don't believe you then yes, they could ask for proof of utilities. So, putting £190 a month for gas alone is unreasonable and if you cannot prove it, puts your creditbilty at risk!

stevemarsh1976

skylight wrote: »

No, you don't have to list her income, just her contribution.

ORs don't really ever ask to see bills and not your partners wages slips either. A lot in BR is done on trust, but if they don't believe you then yes, they could ask for proof of utilities. So, putting £190 a month for gas alone is unreasonable and if you cannot prove it, puts your creditbilty at risk!

Thanks very much I dont intend on putting anything I cant prove and the utilities wouldnt be an issue if they did want them I just want to keep my OH out of it as much as is physically possible.

thanks again