Some help with SOA Please..

mjs12345

hi, after getting advice from CCCS my plan is now to go Bankrupt. I am at this second trying to do my SOA. Basically for 4 years now i have been in a debt management plan with Gregory Pennington (a company who charge monthly) paying quite a small amount in comparison to my debts. I lost my job 2 months ago so wanted to change to a charity debt company.
For my SOA what do i put as the monthly debt repayments?? I have been paying GP for ages so do not know what to put on this SOA.
Also, my family car is in my partners name, but for example Car Insurance, road tax comes out of our monthly income, is that ok?
Any advice is great.:o

confused76

hi there
when you complete the soa on your br forms you are completing it based on post br, so you wouldn't include your dmp amount

have a go at completing this and we can have a look at it...

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

mjs12345

thats what i am trying to do now, the SOA. I'll complete it now without the debt monthly repayments and see what you all think

mjs12345

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 940
Other income............................ 0
Total monthly income.................... 940
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 15
Mobile phone............................ 50
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 400
Clothing................................ 40
Petrol/diesel........................... 50
Road tax................................ 13
Car Insurance........................... 66
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 5
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 10
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 15
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 20
Total monthly expenses.................. 877

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Capquest Debt Recover..........21070.....0.........0
HM Revenue & Customs...........502.......0.........0
BarclayCard Services...........684.......0.........0
Total unsecured debts..........22256.....0.........-

Monthly Budget Summary
Total monthly income.................... 940
Expenses (including HP & secured debts). 877
Available for debt repayments........... 63
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 63
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -22,256
Net Assets.............................. -22,256
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

mjs12345

I am on Jobseekers at the moment which is why there is no Rent or Council Tax.

mjs12345

any help and advice would be great with the questions at the beginning of the thread?!

[Deleted User]

If it is just you going br then it's only your 'income' that is looked at and all you have to show the or is that your partner contributes their share to the household.
I don't know for sure if all benefits are included as 'income' or if some are excluded, hopefully someone else will be along with more knowledge soon or do a search of this forum, I know it has been discussed before

lbm

Manoona

mjs12345 wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 940
Other income............................ 0
Total monthly income.................... 940
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 15
Mobile phone............................ 50 Not allowed in BR - put in landline
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 15 Will only be allowed if used for work/school
Groceries etc. ......................... 400
Clothing................................ 40
Petrol/diesel........................... 50
Road tax................................ 13
Car Insurance........................... 66
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 5
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 10
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 15
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 20 Not allowed in BR I would put this in Holiday instead
Total monthly expenses.................. 877

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Capquest Debt Recover..........21070.....0.........0
HM Revenue & Customs...........502.......0.........0
BarclayCard Services...........684.......0.........0
Total unsecured debts..........22256.....0.........-

Monthly Budget Summary
Total monthly income.................... 940
Expenses (including HP & secured debts). 877
Available for debt repayments........... 63
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 63
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -22,256
Net Assets.............................. -22,256
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Just a few little comments on your SOA - Does your partner work at all as you will need put their contribution to the household bills on your income too. HTH

Manoona x

HappyMJ

But as you are on benefits you will have nothing to pay. You could put any figures you wanted down even having zero expenses and no payment order will be made.

mjs12345

How is this looking?? Any Advice is much appreciated.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 940
Other income............................ 0
Total monthly income.................... 940
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 400
Clothing................................ 80
Petrol/diesel........................... 50
Road tax................................ 13
Car Insurance........................... 66
Car maintenance (including MOT)......... 10
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..................... 0
Contents insurance...................... 15
Life assurance ......................... 10
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 0
Total monthly expenses.................. 932

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Capquest Debt Recover..........21070.....0.........0
BarclayCard....................684.......0.........0
Hm Rev & Customs...............502.......0.........0
Total unsecured debts..........22256.....0.........-

Monthly Budget Summary
Total monthly income.................... 940
Expenses (including HP & secured debts). 932
Available for debt repayments........... 8
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 8
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -22,256
Net Assets.............................. -22,256
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

mjs12345

Would this be acceptable by the OR?