soa does this look right?

deadinthewater

Statement of Affairs & Personal Balance Sheet

Summary

Monthly Budget Summary Amount(£)
Total monthly income 1,795
Monthly expenses (incl. HP & secured loans) 1,778
Available for debt repayments 17
UNsecured debt repayments 818
Amount short for making debt repayments -801
Personal Balance Sheet Summary Amount(£)
Total Assets (things you own) 110,400
Total Secured & HP Debt -85,000
Total Unsecured Debt -43,365
Net Assets -17,965
Household Information

Number of adults in household 3
Number of children in household
Number of cars owned 1
Income, Expense, Debt & Asset Details

Income Amount(£)
Monthly income after tax 1347
Partners monthly income 408
Benefits 0
Other income 40
Total monthly income 1795
Expenses Amount(£)
Mortgage 656
Secured/HP loan payments 0
Rent 0
Management charge (leasehold property) 0
Council tax 117
Electricity 122
Gas 25
Oil 0
Water Rates 42
Telephone (land line) 20
Mobile phone 35
TV Licence 12
Satellite/Cable TV 0
Internet services 0
Groceries etc. 440
Clothing 50
Petrol/diesel 120
Road tax 12
Car Insurance 17
Car maintenance (including MOT) 25
Car Parking 0
Other travel 0
Childcare/nursery 0
Other child related expenses 0
Medical (prescriptions, dentists, opticians etc.) 25
Pet Insurance/Vet bills 0
Buildings Insurance 0
Contents Insurance 0
Life Assurance 0
Other Insurance 0
Presents (birthday, christmas etc.) 0
Haircuts 30
Entertainment 0
Holiday 30
Emergency Fund 0
Total monthly expenses 1778
Secured & HP Debt Description Debt(£) Monthly(£) APR(%)
Mortgage 85000 (656) 0
Secured & HP Debt totals 85000 - -
Unsecured Debt Description Debt(£) Monthly(£) APR(%)
loan 1236 58 0
loan 7365 193 0
loan 24000 393 0
credit card 514 14 0
credit card 6400 160 0
overdraft 650 0 0
overdraft 3200 0 0
Unsecured Debt totals 43365 818 -
Asset Description Value (£)
Cash 0
House Value (Gross) 110000
Shares and bonds 0
Car(s) 400
Other assets (e.g. endowments, jewellery etc) 0
Total Assets 110400


have just done soa could anyone advise if this looks acceptable and would it constitute BR
ant assistance greatly appreciated

confused76

deadinthewater wrote: »

Statement of Affairs & Personal Balance Sheet

Summary

Monthly Budget Summary Amount(£)
Total monthly income 1,795
Monthly expenses (incl. HP & secured loans) 1,778
Available for debt repayments 17
UNsecured debt repayments 818
Amount short for making debt repayments -801
Personal Balance Sheet Summary Amount(£)
Total Assets (things you own) 110,400
Total Secured & HP Debt -85,000
Total Unsecured Debt -43,365
Net Assets -17,965
Household Information

Number of adults in household 3
Number of children in household
Number of cars owned 1
Income, Expense, Debt & Asset Details

Income Amount(£)
Monthly income after tax 1347
Partners monthly income 408
Benefits 0
Other income 40
Total monthly income 1795
Expenses Amount(£)
Mortgage 656
Secured/HP loan payments 0
Rent 0
Management charge (leasehold property) 0
Council tax 117
Electricity 122 this seems high?
Gas 25
Oil 0
Water Rates 42
Telephone (land line) 20
Mobile phone 35 put with landline max £60
TV Licence 12
Satellite/Cable TV 0
Internet services 0
Groceries etc. 440
Clothing 50
Petrol/diesel 120
Road tax 12
Car Insurance 17
Car maintenance (including MOT) 25
Car Parking 0
Other travel 0
Childcare/nursery 0
Other child related expenses 0
Medical (prescriptions, dentists, opticians etc.) 25
Pet Insurance/Vet bills 0
Buildings Insurance 0
Contents Insurance 0 do you have this?
Life Assurance 0
Other Insurance 0
Presents (birthday, christmas etc.) 0
Haircuts 30
Entertainment 0
Holiday 30
Emergency Fund 0
Total monthly expenses 1778
Secured & HP Debt Description Debt(£) Monthly(£) APR(%)
Mortgage 85000 (656) 0
Secured & HP Debt totals 85000 - -
Unsecured Debt Description Debt(£) Monthly(£) APR(%)
loan 1236 58 0
loan 7365 193 0
loan 24000 393 0
credit card 514 14 0
credit card 6400 160 0
overdraft 650 0 0
overdraft 3200 0 0
Unsecured Debt totals 43365 818 -
Asset Description Value (£)
Cash 0
House Value (Gross) 110000
Shares and bonds 0
Car(s) 400
Other assets (e.g. endowments, jewellery etc) 0
Total Assets 110400


have just done soa could anyone advise if this looks acceptable and would it constitute BR
ant assistance greatly appreciated

hi there looks ok to me, couple of comments above. i am sure others will comment too x

sizzler

good answer confused

only question why three :)adults

deadinthewater

hi confused & sizzler thanks for quick response
i will try to answer in order
we are elec only and have a portable gas heater as cheaper than running night storage and elec fires and due to time of year elec company put up tp cover cold weather use
the mobile is for work as i am bus driver need it for emergencies breakdown etc.......no company dont supply
we cancelled insurances to try to cover the debts (failed)

as for sizzlers question
we have a 19yr old disable son living with us he get DLA but i was told this was not to be included as it was not means tested and he gives us £40 a month to put towards shopping not much but he does contribute so i included it

sarahevie

Is there no way of decreasing that electricity spend it does seem very high?

We currently pay £44 a month

deadinthewater

hi sarahevie thanks for reply

re reducing elec charges
as i said we are elec only so have no gas mains tried to get payments reduced but they said to the time of year dark nights etc the usage was bound to increase so they would look at it again in a couple of months and i do my own meter readings and its not far off we are a little in credit but only a few pounds

alastairq

the mobile is for work as i am bus driver need it for emergencies breakdown etc.......no company dont supply

as confused says, mobile is best included with land line.....regardless of necessity....however, when used for work purposes, your employer should re-imburse you the call costs......

deadinthewater

thanks alastairq
i understand now i think they give us £10 a year for calls not sure as we only call them for emergencies but what confussed is saying is remove it from mobile and just put £55 under land line heading is that correct?
would the OR allow £55 for land line as this is quite a lot

philnicandamy

deadinthewater wrote: »

thanks alastairq
i understand now i think they give us £10 a year for calls not sure as we only call them for emergencies but what confussed is saying is remove it from mobile and just put £55 under land line heading is that correct?
would the OR allow £55 for land line as this is quite a lot

correct......most OR's will allow upto or around £60

hunt85

just a query on the mobile/landline thing. The OR will see on my statements £30 a month going to Orange for my mobile, i don't pay for the landline, my partner does. So it won't show anything going to Virgin on my statements (who provide our landline service) so what happens then if i put the mobile under landline on my SOA, this is a lie?

deadinthewater

hi philnicandamy
thanks for reply knowing what allowances are allowed is a great help
Not being funny but they do seem quite generous as we have been living very basically for around 2yrs sometimes due to bills we have only spent £40 weekly for food for 3 adults very hungry every day and obviously we have had no social life or outing hols etc for at least 18mths but with all these allowances we will have a good standard of living to what we did have
Thats a plus