Soa

stevemarsh1976

OK redone my SOA taking into account some of the advices on my previous attempt. All of the actual bills are for the house and takes into account my partner will contribute £230 per month to them (actually its the other way round but I guess this how I need to do it)

Ive also had a look at the actual online form and notice its a lot lot smaller than this version so I assume I use the box at the bottom for all the odds and sods like haircuts and holiday etc ?

any advices much appreciated

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2 partners contribution to bills £230 takes into account half of all joint bills
Number of children in household.........
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.................................... 400 This is a rent I will pay OH its a little over half the mortgage but I wont be responsible for upkeep of the house
Management charge (leasehold property).. 0
Council tax............................. 196
Electricity............................. 100
Gas..................................... 63
Oil..................................... 0
Water rates............................. 24
Telephone (land line)................... 45
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 15 need for job
Groceries etc. ......................... 175
Clothing................................ 50
Petrol/diesel........................... 100
Road tax................................ 20
Car Insurance........................... 45
Car maintenance (including MOT)......... 25
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......................... 16 british gas servicing policy
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 1375


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...................... 117500...(0)........0
Secured Debt.................. 11200....(0)........0
Total secured & HP debts...... 128700....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
egg card.......................2480......84........0
TSB Master card................583.......12........0
TSB Loan.......................7800......197.......0
TV via GE Money................300.......19.29.....0
TSB Overdraft..................700.......25........0
TSB Overdraft..................1500......50........0
Total unsecured debts..........13363.....387.29....-


Monthly Budget Summary
Total monthly income.................... 1,658
Expenses (including HP & secured debts). 1,375
Available for debt repayments........... 283
Monthly UNsecured debt repayments....... 387.29
Amount short for making debt repayments. -104.29

Personal Balance Sheet Summary
Total assets (things you own)........... 114,000
Total HP & Secured debt................. -128,700
Total Unsecured debt.................... -13,363
Net Assets.............................. -28,063

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

IF

Hello Steve, I'm hopless at soa. Just bumping for you x

confused76

is that enough for your groceries? for two people you will be allowed more than that - i'm sure you can add at least another £100...

stevemarsh1976

confused76 wrote: »

is that enough for your groceries? for two people you will be allowed more than that - i'm sure you can add at least another £100...

ah no thats just for me based on the figures cccs recomended so I should be doubling everything up?

Council tax............................. 196
Electricity............................. 100
Gas..................................... 63
Water rates............................. 24
Telephone (land line)................... 45
TV Licence.............................. 12
Internet Services....................... 15

these are the things ive posted as household bills rest is just for me ie my car insurance my clothes my groceries etc...I will be putting on form OH contributes £230 towards these.

Rent is what weve agreed I should pay it covers half the mortgage plus about £30 that covers any interest changes and I will not be paying towards maintanence (not sure if this good way for OR to look at it but its what we agreed)

bit of a minefield this is

sizzler

Hope this is a little help:)

stevemarsh1976 wrote: »

OK redone my SOA taking into account some of the advices on my previous attempt. All of the actual bills are for the house and takes into account my partner will contribute £230 per month to them (actually its the other way round but I guess this how I need to do it)

Ive also had a look at the actual online form and notice its a lot lot smaller than this version so I assume I use the box at the bottom for all the odds and sods like haircuts and holiday etc ?

any advices much appreciated

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2 partners contribution to bills £230 takes into account half of all joint bills
Number of children in household.........
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.................................... 400 This is a rent I will pay OH its a little over half the mortgage but I wont be responsible for upkeep of the house
Management charge (leasehold property).. 0
Council tax............................. 196 Is this correct?
Electricity............................. 100 Seems very high
Gas..................................... 63
Oil..................................... 0
Water rates............................. 24
Telephone (land line)................... 45
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 15 need for job
Groceries etc. ......................... 175 try 275
Clothing................................ 50
Petrol/diesel........................... 100
Road tax................................ 20
Car Insurance........................... 45
Car maintenance (including MOT)......... 25
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......................... 16 british gas servicing policy
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 1375


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...................... 117500...(0)........0
Secured Debt.................. 11200....(0)........0
Total secured & HP debts...... 128700....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
egg card.......................2480......84........0
TSB Master card................583.......12........0
TSB Loan.......................7800......197.......0
TV via GE Money................300.......19.29.....0
TSB Overdraft..................700.......25........0
TSB Overdraft..................1500......50........0
Total unsecured debts..........13363.....387.29....-


Monthly Budget Summary
Total monthly income.................... 1,658
Expenses (including HP & secured debts). 1,375
Available for debt repayments........... 283
Monthly UNsecured debt repayments....... 387.29
Amount short for making debt repayments. -104.29

Personal Balance Sheet Summary
Total assets (things you own)........... 114,000
Total HP & Secured debt................. -128,700
Total Unsecured debt.................... -13,363
Net Assets.............................. -28,063

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

stevemarsh1976

Thanks sizzler the £196 is correct yes as is the £100 for electric I will be able to prove both...I assume your suggesting £275 as a combined figure for food for 2 people ? in which case I will have to up the contribution of my OH amount ?

dojoman

I found the SOA the most confusing part of going BR and mine was nowhere near as complex as yours, I wish you well in completing it but as it is now it totally confuses me.

stevemarsh1976

dojoman wrote: »

I found the SOA the most confusing part of going BR and mine was nowhere near as complex as yours, I wish you well in completing it but as it is now it totally confuses me.

lol me too..

Just a thought assuming im not a million miles away if I submit I will have the opportunity to talk it through with the OR as and when I have my interview ?

confused76

stevemarsh1976 wrote: »

lol me too..

Just a thought assuming im not a million miles away if I submit I will have the opportunity to talk it through with the OR as and when I have my interview ?

yes, they go through it in the interview. the soa is a pain but you're nearly there

tech2_2

Hi mate

Yea the SOA is confusing but it is the most improtant part of the whole BR for you!

tech2_2

Sorry forgot to paste the link

we used this and it was invaluable..... it is from the insolvancy website as we spent 3 months resurcing the BR and all other options before taking the plunge!

http://www.insolvency.gov.uk/DocumentLibrary/Policy/Excel/Income%20payment%20Calculator%20final%20nov%2006.xls

tech 2