My SOA

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household......... 3
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 770
Partners monthly income after tax....... 807
Benefits................................ 961
Other income............................ 50
Total monthly income.................... 2588
Monthly Expense Details
Mortgage................................ 614
Secured/HP loan repayments.............. 241
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 92
Electricity............................. 50
Gas..................................... 80
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 0
Mobile phone............................ 60
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 30
Groceries etc. ......................... 606
Clothing................................ 120
Petrol/diesel........................... 152
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 86
Childcare/nursery....................... 0
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 0
Buildings insurance..................... 40
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 16
Presents (birthday, christmas etc)...... 25
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 20
Total monthly expenses.................. 2344

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

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 91908....(614)......0
Secured Debt.................. 24000....(241)......0
Total secured & HP debts...... 115908....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Halifax........................3921......0.........0
Black Horse....................10275.....0.........0
MBNA...........................3971......0.........0
Mortgage.......................27913.....0.........0
Barclacard.....................824.......0.........0
M&S............................864.......0.........0
MBNA...........................3533......0.........0
Total unsecured debts..........51301.....0.........-

Monthly Budget Summary
Total monthly income.................... 2,588
Expenses (including HP & secured debts). 2,344
Available for debt repayments........... 244
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 244
Personal Balance Sheet Summary
Total assets (things you own)........... 85,000
Total HP & Secured debt................. -115,908
Total Unsecured debt.................... -51,301
Net Assets.............................. -82,209

Not sure how accurate this is at the moment because I'm trying to do a budget based on what my circs would be after I went bankrupt i.e. lower mortgage payments &no credit card payments.

To be honest some of the figures I have had a guess at i.e child related expenses, emergency fund, because I'm not sure what these exspenses might.

Oh & my car is on Motability & this is why I have no expenses related to it other than fuel.

Please could someone have a look at this and tell me what would be allowed or not etc?

Many thanks

Comments

  • WLITC
    WLITC Posts: 1,029
    Name Dropper Photogenic First Post First Anniversary
    Forumite
    Other insurance......................... 16 <- whats this for, they don't allow all types of insurance?
    Presents (birthday, christmas etc)...... 25 <- this is not allowed
    Haircuts................................ 20 <- I believe the guidance is £10 for each adult and £5 for kids, so this could be higher
    Holiday................................. 20 <- could be higher (£50-60 possibly??) given there are 6 of you.
    Emergency fund.......................... 20 <- this didn't use to be allowed but its now £10 per month, per dependant so could be £60 I believe.
  • Thank you for your input - the other insurance is actually Home Emergency cover which comes as part of my Buildings & Contents insurance, I pay £56.56 as one total payment. Not sure why I have it down as 2 seperate things otit may be because the CCCS website flags it as high if I input as one figure.
  • kepar
    kepar Posts: 1,297 Forumite
    Why will you have lower mortgage payments??????
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