Re-done my SOA .. please advice

woody24

After speaking with CCCS and NDH, I have redone my SOA. Could you possible advise me on whether it looks feasible or not.

This is actually my outgoings etc but Im worried that the OR will look through my bank statements and see wreckless spending (this is how I got into this mess in the first place) and I will get questioned on how I afforded £15 to spend on ebay or £20 to spend in Boots etc ... also, the extra £450 I have put down as income is my ex-partners contribution to our rent/shopping and bills. We are still living together but aren't in a relationship anymore and I'v always been the highest earner and have always pay substantially more pro-rata based on our salaries so she has always paid 40% of the house/bills then I pay the rest plus the groceries - she physically cannot afford to pay anymore so thats just the way it is - she has debt problems of her own which effectively I can do nothing about because I owe her £4000 myself so Im hardly going to tell her to up her payments to the house when some months I cant even afford to pay her money to her. So it's just the arrangement we have.

Will the OR frown upon this? I dont really want to get her and her finances involved because we are seperated now and I feel rubbish enough about going bankrupt - I really wnat to sell my car which is worth £5000, buy a new car for £2000 (in order with BR) and give her the £3000 so that my conscience is clear - but I know Im not allowed to do that :-(

Can someone help at all?

I think Im certain after being on this board, and speaking to NDH that BR is the right thing to do - Im just scared to death of the OR looking through my bank statements and nit picking...

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1900
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 450 this is my ex's contribution
Total monthly income.................... 2350
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 800
Management charge (leasehold property).. 0
Council tax............................. 160 yes it is this high! 3 bed in herts
Electricity............................. 50 payg meters (cant get them changed)
Gas..................................... 50 payg meters (cant get them changed)
Oil..................................... 0
Water rates............................. 45 DD
Telephone (land line)................... 60 This is for landline and mobile
Mobile phone............................ 0
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 15 Sometimes I work from home in the evenings and have to hvae internet
Groceries etc. ......................... 350 for both of us for the whole month including pack ups or when i need to eat out for work etc and pack up isnt practical
Clothing................................ 30
Petrol/diesel........................... 250 approx £200 travel to work and back per month, plus approx £50 for other trips
Road tax................................ 15
Car Insurance........................... 60 inc breakdown
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 50 sometimes i hvae to go further into london for work which isnt paid back as expenses if it's my base for the day so i have to drive to normal place then get train
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 15 lenses DD
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 25
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 2103

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2000

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Capital One ...................1600......80........29
Barclays personal Loa..........14711.....400.......27
Personal Loan .................4000......100.......0
Very ..........................1600......40........28
Additions .....................200.......15........28
NHS Car Loan ..................5000......150.......3
Total unsecured debts..........27111.....785.......-

Monthly Budget Summary
Total monthly income.................... 2,350
Expenses (including HP & secured debts). 2,103
Available for debt repayments........... 247
Monthly UNsecured debt repayments....... 785
Amount short for making debt repayments. -538
Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -27,111
Net Assets.............................. -25,111
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

andreap1984

woody24 wrote: »

After speaking with CCCS and NDH, I have redone my SOA. Could you possible advise me on whether it looks feasible or not.

This is actually my outgoings etc but Im worried that the OR will look through my bank statements and see wreckless spending (this is how I got into this mess in the first place) and I will get questioned on how I afforded £15 to spend on ebay or £20 to spend in Boots etc ... also, the extra £450 I have put down as income is my ex-partners contribution to our rent/shopping and bills. We are still living together but aren't in a relationship anymore and I'v always been the highest earner and have always pay substantially more pro-rata based on our salaries so she has always paid 40% of the house/bills then I pay the rest plus the groceries - she physically cannot afford to pay anymore so thats just the way it is - she has debt problems of her own which effectively I can do nothing about because I owe her £4000 myself so Im hardly going to tell her to up her payments to the house when some months I cant even afford to pay her money to her. So it's just the arrangement we have.

Will the OR frown upon this? I dont really want to get her and her finances involved because we are seperated now and I feel rubbish enough about going bankrupt - I really wnat to sell my car which is worth £5000, buy a new car for £2000 (in order with BR) and give her the £3000 so that my conscience is clear - but I know Im not allowed to do that :-(

Can someone help at all?

I think Im certain after being on this board, and speaking to NDH that BR is the right thing to do - Im just scared to death of the OR looking through my bank statements and nit picking...

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1900
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 450 this is my ex's contribution
Total monthly income.................... 2350
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 800
Management charge (leasehold property).. 0
Council tax............................. 160 yes it is this high! 3 bed in herts
Electricity............................. 50 payg meters (cant get them changed)
Gas..................................... 50 payg meters (cant get them changed)
Oil..................................... 0
Water rates............................. 45 DD
Telephone (land line)................... 60 This is for landline and mobile
Mobile phone............................ 0
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 15 Sometimes I work from home in the evenings and have to hvae internet
Groceries etc. ......................... 350 for both of us for the whole month including pack ups or when i need to eat out for work etc and pack up isnt practical
Clothing................................ 30
Petrol/diesel........................... 250 approx £200 travel to work and back per month, plus approx £50 for other trips
Road tax................................ 15
Car Insurance........................... 60 inc breakdown
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 50 sometimes i hvae to go further into london for work which isnt paid back as expenses if it's my base for the day so i have to drive to normal place then get train
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 15 lenses DD
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 25
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 2103

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2000

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Capital One ...................1600......80........29
Barclays personal Loa..........14711.....400.......27
Personal Loan .................4000......100.......0
Very ..........................1600......40........28
Additions .....................200.......15........28
NHS Car Loan ..................5000......150.......3
Total unsecured debts..........27111.....785.......-

Monthly Budget Summary
Total monthly income.................... 2,350
Expenses (including HP & secured debts). 2,103
Available for debt repayments........... 247
Monthly UNsecured debt repayments....... 785
Amount short for making debt repayments. -538
Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -27,111
Net Assets.............................. -25,111
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

I would jjust like to add that you are in a very similar situationa s me, I am worried about my statements being scrutinised for ebay buying and other bits and pieces.

I am not taking into account my partner as he doesn't earn anythingng (his business went bust) and the house we live in is his house which is in negative equity anyway

I have comlpeted the forms but haven't submitted them, I have also just opened a CAshminder account with Coop as i'm being charged interest on my current account with YB for an overdraft.

I thought then the OR will at least be able to see my new account in order with all of the correct outgoings as per my SOA. I know they will look back further into my previous account which is messy and all over the place but at least I am trying to get things in order now.

Only thing i would like to know is whetehr you can make your SOA look more than your income, as I haven't allowed for holidays etc, can this be added so you don't have a surplus even though i've not been saving for a holiday?

woody24

I would be interested to know that as well. My debt is because of a mixture of a) wreckless spending which Im now having to pay the price for by having to go bankrupt which is the last thing I wanted at the age of 25 and it's also a mixture of ending poor relationships and just having continuing bad luck ... but when Im depressed I spend money ... and my bank statements will show that ... and Im worried about being judged.

I havent saved for a holiday for as long as I cna remember but I put it in my essential allowance as I plan to if I can take it off my surplus income!

Anyone have any advice for us on these matters? Much appreciated everyone