soa please advise

elliesmemory1

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................ 1109
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1109
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 315
Management charge (leasehold property).. 0
Council tax............................. 103
Electricity............................. 40
Gas..................................... 49
Oil..................................... 0
Water rates............................. 33
Telephone (land line)................... 30
Mobile phone............................ 10
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 20
Petrol/diesel........................... 130
Road tax................................ 25
Car Insurance........................... 24
Car maintenance (including MOT)......... 30
Car parking............................. 5
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 30
Buildings insurance..................... 0
Contents insurance...................... 5
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 0
Total monthly expenses.................. 1107

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1
Other assets............................ 0
Total Assets............................ 1

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 1,109
Expenses (including HP & secured debts). 1,107
Available for debt repayments........... 2
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 2
Personal Balance Sheet Summary
Total assets (things you own)........... 1
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 1
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Please give any advice on the above Thanks

jen80

Hi

Is your council tax that much every month? Are you in the right band? it seems very high compared to your rent.
Also your gas and elec are a lot for 1 person, especially if you are out at work a lot, have you tried using a comparison site/ quidco to see if you can reduce these.

HTH

Manoona

Hiya,

I actually think this looks ok, Its very similar to what mine was although your council tax is quite high, do you get the 25% off for being a single occupant. Also stick your Mobile in with your landline as not many OR allow this.

My Electric was very high as I have night storage, but i didnt have any gas, although if it was seperate it would ahve been about the same!

elliesmemory1

Thanks for replys, council tax is usally 90 a month but as I got a bit behind I had to set up a repayment plan to stop them taking furth action, not sure how this goes in to br? dont start paying the 103 til next month.
Gas and elec is high because of the bad winter and because they didnt have my monthly payments set at right amount so had to increase payments, this should be cleared this month so they may reduce the payment I was paying around 65 before.

Anyone know what happens about council tax i got behind by a month and could not afford to pay two months together so they set up this plan to help me catch up. I do get the single person discount and am in band b.
Need car for work and its only worth 400ish.
Is it right thatI dont have to list anything with value of 1000 or less? not that I have anything worth more than 300-400.
I know I have to list car.
thanks

confused76

Hardupandfedup wrote: »

Thanks for replys, council tax is usally 90 a month but as I got a bit behind I had to set up a repayment plan to stop them taking furth action, not sure how this goes in to br? dont start paying the 103 til next month.
Gas and elec is high because of the bad winter and because they didnt have my monthly payments set at right amount so had to increase payments, this should be cleared this month so they may reduce the payment I was paying around 65 before.

Anyone know what happens about council tax i got behind by a month and could not afford to pay two months together so they set up this plan to help me catch up. I do get the single person discount and am in band b.
Need car for work and its only worth 400ish.
Is it right thatI dont have to list anything with value of 1000 or less? not that I have anything worth more than 300-400.
I know I have to list car.
thanks

i think you can only put your true council tax figure on your soa excluding the arrears. doesn't make much difference though as you would still only have a small surplus.

yes, don't list anything under assets that would fetch less than £1000 at auction - except cars, list any car regardless of value

hope that helps

elliesmemory1

Thanks, so if I put my normal council tax amount what happens to the arrears? do I add that to form as a DEBT?

Gas and elec may reduce but am paying 89 for both at moment. Do you think everything else is ok? hope to finish forms today.

elliesmemory1

Any more thoughts from anyone please.

chrisholt8138

Hi Re council tax, I had arrears and payment arrangements in place for my council tax, I was advised to include all payments in my soa, including the element to pay back the arrears. When the BR goes through they will all be included.
re Car, my OR told me to declare it as an asset but they wouldn't take it away from me if it was of a low value (i.e. under £1,000). The OR also said that I would be allowed to keep paying a small amount towards my car (it was on HP) as I need it for work but he said he wouldn't consider £200 or £300 per month as acceptable. In principal the OR won't take things off you that you need for living only items of significant value. In fact the OR didn't take a single thing off me ( apart from the house ) they do try to be helpful and not to make life hard for you.
Good luck

elliesmemory1

Thanks for your help.

elliesmemory1

Any other ideas on soa please, does it look ok, thanks

dibbydog

Hiya

Add mobile to phone as previously advised.
I managed £40 for clothing as have to look smart for work.
Is the contents comprehensive? £5 a month is quite low.
Also do you have breakdown included in your car insurance, many insurers include this now and is worth having.

Good luck

:beer: