could someone please go through SOA before I submit?

oliviasmummy

Below is my statment of affairs both hubby and I are going BR. The mortgage and secured payments I have seperated as the form shows but its one payment we make to northern rock on our together mortgage. Obviously after BR we will have this £186 extra but it wont be surplus as my income will be reduced to £492 as I will be on statutory maternity pay as off beginning of Dec.

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 815
Partners monthly income after tax....... 1222
Benefits................................ 110
Other income............................ 0
Total monthly income.................... 2147

Monthly Expense Details[/b]
Mortgage................................ 608
Secured/HP loan repayments.............. 186
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 92
Electricity............................. 100
Gas..................................... 0
Oil..................................... 0
Water rates............................. 47
Telephone (land line)................... 60
Mobile phone............................ 35
TV Licence.............................. 12
Satellite/Cable TV...................... 20
Internet Services....................... 10
Groceries etc. ......................... 450
Clothing................................ 30
Petrol/diesel........................... 100
Road tax................................ 15
Car Insurance........................... 42
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 25
Childcare/nursery....................... 75
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 9
Contents insurance...................... 9
Life assurance ......................... 39
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 30
Total monthly expenses.................. 2119

Assets
Cash.................................... 0
House value (Gross)..................... 85000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 88000


Secured & HP Debts[/b]
Description....................Debt............Monthly.
Mortgage...................... 95000.............(608)
Secured Debt.................. 27000……...(186)
Total secured & HP debts. 122000

Unsecured Debts
Description....................Debt......Monthly
loan...............................10333............0
credit card 1..................2300..............0
credit card 2..................3500..............0
overdraft 2....................100……........0
overdraft 1....................1750……......0
credit card 5..................3600..............0
credit card 4..................580................0
credit card 3..................1200..............0
Total unsecured debts..........23363.....0


Monthly Budget Summary
Total monthly income.................... 2,147
Expenses (including HP & secured debts). 2,119
Available for debt repayments........... 28
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 28

Personal Balance Sheet Summary
Total assets (things you own)........... 88,000
Total HP & Secured debt................. -122,000
Total Unsecured debt.................... -23,363
Net Assets.............................. -57,363

Sunnylooloo

Hi your mobile and landline should be put together and I *think* it is about £60

Internet only allowed if used for work/school

and you are not allowed emergency fund or presents or Sky TV - all has to come from surplus I think

Just my thoughts at a quick glance

good luck

missyp123

hi we are a family of 2 adults and 1 child

We were allowed £450 for grocery so i would bump yours up esp with new baby nappies milk etc.

We were also allowed £60 as our holiday fund so this should make up for lossing your emergency and xmas bit.

does your partner have to dry clean clothing? lunches for work? all adds up.

dojoman

I have tried to make some comments on the SOA, but you need to resubmit it using the link below.

http://www.makesenseofcards.com/soacalc.html

If you put it back up using this link I will gladly help you with it

oliviasmummy

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 815
Partners monthly income after tax....... 1222
Benefits................................ 110
Other income............................ 0
Total monthly income.................... 2147
Monthly Expense Details
Mortgage................................ 608
Secured/HP loan repayments.............. 186
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 92
Electricity............................. 100
Gas..................................... 0
Oil..................................... 0
Water rates............................. 47
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 450
Clothing................................ 30
Petrol/diesel........................... 100
Road tax................................ 15
Car Insurance........................... 42
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 100
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 9
Contents insurance...................... 9
Life assurance ......................... 39
Other insurance......................... 9
Presents (birthday, christmas etc)...... 15
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 60
Emergency fund.......................... 40
Total monthly expenses.................. 2093

Assets
Cash.................................... 0
House value (Gross)..................... 85000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 88000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 95000....(608)......0
Secured Debt.................. 27000....(186)......0
Total secured & HP debts...... 122000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................3500......0.........0
credit card....................2300......0.........0
credit card....................1700......0.........0
loan...........................10333.....0.........0
overdraft 2...................1750......0.........0
overdraft 1....................100.......0.........0
credit card....................3600......0.........0
credit card....................580.......0.........0
Total unsecured debts..........23863.....0.........-

Monthly Budget Summary
Total monthly income.................... 2,147
Expenses (including HP & secured debts). 2,093
Available for debt repayments........... 54
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 54
Personal Balance Sheet Summary
Total assets (things you own)........... 88,000
Total HP & Secured debt................. -122,000
Total Unsecured debt.................... -23,863
Net Assets.............................. -57,863
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.


thanks hope this helps I have updated some figures with comments and given more accurate figures on debt after finding all my paper work today. My bank phoned me today requesting a payment of £50 which I can not make I gave them all the figures but they wouldnt take the emergency, birthday or holiday find into account and when I gave figure for medical including dentist she said is this every month, to which I replied no but if hubby was to need new heyfever stuff would cost more than £20 in prescriptions.

I was in tears after I put the phone down think I need to contact cccs again. She said to make token payment of £5.50 which was 10% of surplus but that still wouldnt stop any further action. Im just scared about bayliffs coming to my door I have no idea what rights they have what to say to them if they do etc do I even answer the door.

december

If a bailiff does come to the door, you just don't let them in. They don't have the right to force entry into your property unless you've already let them in once. I stopped making token payments about 9 months before I went BR and I didn't have any bailiff visits as the creditor has to get a CCJ against you in the first instance in order to be able to use bailiffs, and if you went to court and showed your income and expenditure showing that you were unable to make any payments other than token payments, the court wouldn't be able to grant a CCJ (from my understanding). I did have a couple of visits from debt collectors but I shut the door on them.

I know the whole process can be rather scary, I was going to add a hug icon but couldn't find one so please just imagine that there's one here

With regards to the SOA I'd be tempted to add an amount for the children under other child related expenses for after school clubs etc

oliviasmummy

My daughter is only 2 would this still be allowed cos I would love to take her to some of the arts and crafts clubs around me especially once ive had this baby to keep her occupied and not feel left out. Would be good for her to mingle with other children her age before nursery next sept. They only cost £3 or so a session but there are two sessions a week I know she would love that other mums I know who dont work go to. I cant get anywhere with her at the moment due to my mobility.

missyp123

domt forget to remove the emergemcy fund and birthdays as they wont allow it x

missyp123

just noticed your clothing budget £30 is very low when you think of two little ones aswell, everyones shoes and coats too? we put £120 but it included school uniform and note work suits. try to be realistic as you dont want have nothing with the little one coming.

fredfedup

I would put up your car maintenance to £30. Also clothes as said is very low, try £100. Don't forget once baby arrives you can ask OR to look again at SOA and bump clothes and food up a little. Best of luck with it all. You will be fine. Both me and hubby went BR, and are now discharged.
Things get easier as time goes by, and we will never regret doing it. As compared to the stress beforehand, life is good.
Good luck with BR and congratulations on your impending little one!

oliviasmummy

Thanks for the replies will increase clothing and car maintenance like you say I know clothes are not too expensive but when they need new shoes coat etc it can be especially with baby and its going to be winter so plenty of layers. Had to buy DD new shoes this week at £27 from clarks as she has really narrow feet and cant get cheaper ones elsewhere but dont like to buy others if they dont fit properly. Did any of you have experience with unhelpful staff at your creditors and their attitude when giving SOA information. I have found them all to be very rude and sarcastic. I know they prob have targets etc but I certainly dont need the stress or critisism, I do enough of that to myself. Just wish I could say well we are going BR so your not getting anything but I know not to do that!!