Statement of Affairs - Any help appreciated.

LTP123

You're right. I hated the thought of BR originally and would have sold everything in my house to avoid it but realise I can definitely say that we have tried our best to fix it. Need to think of our future now and as you say start again, the right way.

LTP123

Can anyone help?

Thanks

JCS1

LTP123 wrote: »

Can anyone help?

Thanks

Think the TV Awards are meaning a few people are away from the pc's. Will have a look now.

JCS1

LTP123 wrote: »

Okay, I haven't put my unsecured debts as we are currently tied up with the iva. We pay £480 combined and the debt is around £43000.

One nagging thing I have is that my husbands wages change month on month and are hard to work out, I think this is why we struggled with the IVA.

For now I have put his basic wages in and will inform you that it can be £100 - £120 more a month due to enhanced rates for weekends and evenings.



Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 930
Partners monthly income after tax....... 1032
Benefits................................ 130
Other income............................ 0
Total monthly income.................... 2092
Monthly Expense Details
Mortgage................................ 674
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 96
Electricity............................. 50
Gas..................................... 68
Oil..................................... 0
Water rates............................. 42
Telephone (land line)................... 13
Mobile phone............................ 40
TV Licence.............................. 12
Satellite/Cable TV...................... 12 Add to land line instead
Internet Services....................... 30 Is this necessary for work/school?
Groceries etc. ......................... 400 Might be possible to increase slightly, see what a few other people think.
Clothing................................ 80
Petrol/diesel........................... 130
Road tax................................ 26
Car Insurance........................... 100
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 69
Other child related expenses............ 0 One after school activity per child
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 14
Buildings insurance..................... 10
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 Not allowed
Haircuts................................ 15 10 per adult, £5 per child
Entertainment........................... 0
Holiday................................. 80
Emergency fund.......................... 50 Can't remember if £10 per adult or £10 per family member
Total monthly expenses.................. 2101

Assets
Cash.................................... 0
House value (Gross)..................... 105000
Shares and bonds........................ 0
Car(s).................................. 4850
Other assets............................ 0
Total Assets............................ 109850

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 111500...(674)......7.9
Total secured & HP debts...... 111500....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 2,092
Expenses (including HP & secured debts). 2,101
Available for debt repayments........... -9
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -9
Personal Balance Sheet Summary
Total assets (things you own)........... 109,850
Total HP & Secured debt................. -111,500
Total Unsecured debt.................... -0
Net Assets.............................. -1,650

It looks ok, but see what a few others think first. Might be later on after the Awards have finished though

LTP123

Thanks - I must be the only one not watching! Prefer Mary Portas!

tigerfeet2006

Agree with JCS. You could up your groceries to £450/475.

Obviously you will find your self in a negative situation but if as you say you have extra coming in a month then it shouldn't matter to much.

Make a note at the back that he has fluctuating wages. The OR will most likely average the wage out from over the last 3-6 months wage slips and use that figure as a monthly income. If you would like to do that you can.

LTP123

Thanks tigerfeet and JCS, is there anything I have missed off? I panic, don't want to leave us short x