My SOA please be gentle

bomechina

I hope I've done this right.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 680
Partners monthly income after tax....... 0
Benefits................................ 231
Other income............................ 130
Total monthly income.................... 1041
Monthly Expense Details
Mortgage................................ 280
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 50
Electricity............................. 79
Gas..................................... 30
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 35
Mobile phone............................ 25
TV Licence.............................. 13
Satellite/Cable TV...................... 15
Internet Services....................... 0
Groceries etc. ......................... 230
Clothing................................ 10
Petrol/diesel........................... 80
Road tax................................ 10
Car Insurance........................... 26
Car maintenance (including MOT)......... 5
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 10
Buildings insurance..................... 26
Contents insurance...................... 0
Life assurance ......................... 22
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 8
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1024

Assets
Cash.................................... 0
House value (Gross)..................... 76000
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 76800

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 76000....(280)......4.05
Total secured & HP debts...... 76000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card....................1080......27........27.9
Credit Card....................300.......18........47.9
DCA............................3000......0.........0
Provident Loan.................1800......44........133
DCA............................670.......0.........0
DCA............................380.......0.........0
Total unsecured debts..........7230......89........-

Monthly Budget Summary
Total monthly income.................... 1,041
Expenses (including HP & secured debts). 1,024
Available for debt repayments........... 17
Monthly UNsecured debt repayments....... 89
Amount short for making debt repayments. -72
Personal Balance Sheet Summary
Total assets (things you own)........... 76,800
Total HP & Secured debt................. -76,000
Total Unsecured debt.................... -7,230
Net Assets.............................. -6,430

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Tixy

Hi and well done for posting

bomechina wrote: »

I hope I've done this right.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 680
Partners monthly income after tax....... 0
Benefits................................ 231 are you getting all you are entitled to? check www.entitledto.com
Other income............................ 130 what is this from?
Total monthly income.................... 1041
Monthly Expense Details
Mortgage................................ 280 interest only or repayment?
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 50 this looks low, do you get benefits towards part of the bill?
Electricity............................. 79 this looks high, do you have any arrears? is any of your heating elec? have you checked you are with the cheapest supplier for gas & elec?
Gas..................................... 30
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 35 this looks quite high, do you make a lot of calls on it?, check if you could get a cheaper deal with another provider. If it includes broadband not so bad (but still may be able to get better)
Mobile phone............................ 25
TV Licence.............................. 13
Satellite/Cable TV...................... 15
Internet Services....................... 0
Groceries etc. ......................... 230 maybe try to reduce this a bit, try meal planning for the week before you go to the shops so you only buy what you need or try the drop a brand challenge.
Clothing................................ 10
Petrol/diesel........................... 80
Road tax................................ 10
Car Insurance........................... 26
Car maintenance (including MOT)......... 5
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 10
Buildings insurance..................... 26 not bad but maybe able to get cheaper by shopping around/earning cashback etc considering value of your house.
Contents insurance...................... 0
Life assurance ......................... 22
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 8
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1024

Assets
Cash.................................... 0
House value (Gross)..................... 76000
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 76800

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 76000....(280)......4.05
Total secured & HP debts...... 76000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card....................1080......27........27.9
Credit Card....................300.......18........47.9
DCA............................3000......0.........0
Provident Loan.................1800......44........133
DCA............................670.......0.........0
DCA............................380.......0.........0
Total unsecured debts..........7230......89........-

Monthly Budget Summary
Total monthly income.................... 1,041
Expenses (including HP & secured debts). 1,024
Available for debt repayments........... 17
Monthly UNsecured debt repayments....... 89
Amount short for making debt repayments. -72
Personal Balance Sheet Summary
Total assets (things you own)........... 76,800
Total HP & Secured debt................. -76,000
Total Unsecured debt.................... -7,230
Net Assets.............................. -6,430

Reproduced on Moneysavingexpert with permission, using IE browser.

Earlier today you mentioned arrears for certain items, are these effectively included in the above figures? If not you need to put them in - or are they the DCA debts.
Unless you can seriously increase your income either by youdoing more hours or OH finding work as well I think CCCS are right that you need to be just offering token payments on your consumer debts at the moment.

There may be a few other cutbacks you can make with time (such as moving insurances etc) and it is possible to do groceries for £150 but it does take hard work -and maybe a lot of advice from the people on the oldstyle board who are really good at helping people get the most from their money.

What have CCCS done? are they sending out token payment letter templates to you? did you talk to them about the threatend CCJ from the water co?

Is the house owned by you both jointly? are the debts mostly in one person's name?

bomechina

bomechina wrote: »

I hope I've done this right.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 680
Partners monthly income after tax....... 0
Benefits................................ 231
Other income............................ 130-board money from DD1
Total monthly income.................... 1041
Monthly Expense Details
Mortgage................................ 280-OH pays half
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 50-this for arrears, OH pays current CT bill
Electricity............................. 79-includes arrears payment arrangement
Gas..................................... 30-pre-payment metre
Oil..................................... 0
Water rates............................. 40-this years and CCJ payment
Telephone (land line)................... 35-includes internet (need unlimited downloads due to DD2's A' level courses and my OU course)
Mobile phone............................ 25-contract tied in for another 12 months
TV Licence.............................. 13
Satellite/Cable TV...................... 15-our main source of entertainment as we rarely go out
Internet Services....................... 0
Groceries etc. ......................... 230-working to reduce, however, DD2 has allergies so I do need to be brand/ingredient specific on some things. This also includes packed lunches for 3 of us and the dogs food.
Clothing................................ 10
Petrol/diesel........................... 80
Road tax................................ 10
Car Insurance........................... 26
Car maintenance (including MOT)......... 5
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 10
Buildings insurance..................... 26-includes contents. We live in a flat roof pre-fab so we are limited on insurers
Contents insurance...................... 0
Life assurance ......................... 22
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 8
Entertainment........................... 10-this is mainly for family functions (18th's, 21st's etc), where we are obligated to attend
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1024

Assets
Cash.................................... 0
House value (Gross)..................... 76000
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 76800

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 76000....(280)......4.05
Total secured & HP debts...... 76000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card....................1080......27........27.9
Credit Card....................300.......18........47.9
DCA............................3000......0.........0
Provident Loan.................1800......44........133
DCA............................670.......0.........0
DCA............................380.......0.........0
Total unsecured debts..........7230......89........-

Monthly Budget Summary
Total monthly income.................... 1,041
Expenses (including HP & secured debts). 1,024
Available for debt repayments........... 17
Monthly UNsecured debt repayments....... 89
Amount short for making debt repayments. -72
Personal Balance Sheet Summary
Total assets (things you own)........... 76,800
Total HP & Secured debt................. -76,000
Total Unsecured debt.................... -7,230
Net Assets.............................. -6,430

Reproduced on Moneysavingexpert with permission, using IE browser.

A bit of clarity on my SOA (not the best at trying to explain things like this in writing. What makes sense in my head doesn't always makes sense to everyone else lol)

Thankfully the priority debts are all accounted for within the budget (if the water board accept the offer).

My OH used to run his own business however this folded 8 months ago, leaving him massive debts which he is dealing with as best he can. He now works P/T on minimum wage, but due to depression he is not in a position to take on anything too stressful (at least he hasn't given up completely, for which I am proud of him).
He contributes towards half the mortgage and pays this years council tax payments, this leaves him enough to make his token payments towards his debts.

I am currently trying to lower the food budget by down shifting but still need to by specific products for DD2 which unfortunately means higher prices.
I buy all the toiletries from places like Poundland and Home Bargains.

I am aiming to cut £20 from this months shopping bill, then cut again next month.

CCCS have sent me template letters for token payments which will be sent out on Friday as I haven't got the £1 token payments to send until then.

Happytogetdebtfree

Hi and welcome to the boards, just wanted to wish you all the best with debts and so fourth... Have you tried ebaying, carbooting etc to raise extra funds :-) good luck :-)

bertman

Hi Bomechina,

Just wanted to add my support, we had the same issue as your OH, our business went downhill, very quickly at that. We had some major decisions to take. I am sure you will get some very good advice from people who know a lot more than I do. The main posters on this forum are a fantastic bunch,to be honest they got me through some pretty dark times...

Keep your chin up..