SOA help

kaleidoscope

Ive just re done my SOA..this time Ive added my husbands contribution as the bills he pays in full or contributes to..but have left off the car lease payment..but left on the diesel etc as we share those costs..or would I better leaving all car related things off altogether?

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 4
Number of cars owned....................

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1278.25
Benefits................................ 853
Other income............................ 0
Total monthly income.................... 2131.25

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 650
Management charge (leasehold property).. 0
Council tax............................. 150
Electricity............................. 80
Gas..................................... 100
Oil..................................... 0
Water rates............................. 53
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 25
Groceries etc. ......................... 600
Clothing................................ 60
Petrol/diesel........................... 100
Road tax................................ 11.25
Car Insurance........................... 25
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 5
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 40
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2001.25


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
credit card....................3800......135.......14
credit card....................2500......80........12
loan...........................10000.....262.......16
overdraft......................1130......0.........16
loan...........................2000......154.......8
Total unsecured debts..........19430.....631.......-


Monthly Budget Summary
Total monthly income.................... 2,131.25
Expenses (including HP & secured debts). 2,001.25
Available for debt repayments........... 130
Monthly UNsecured debt repayments....... 631
Amount short for making debt repayments. -501

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -19,430
Net Assets.............................. -19,430

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

kaleidoscope

I have just opened a cash minder account with the co op..it was very easy and the first question she asked me was if I was about to obtain a BR..I told her yes..but she was lovely..went through the application in detail..and account is now just about set up..(just waiting on paperwork in the post)

have downloaded the BR forms from the insolvency site and note that they will want my accounts for the last two years which is fine as 2009/2010 still fresh in my mind as have just completed my tax return..so at least I know where they are..feeling a little more positive after a conversation with NDL..as they have agreed that BR is my best course of action..have cried buckets this morning..partly tears of feeling a complete failure and tears of relief

Ive decided to get my application in asap currently have half the required fee, will be listing as much as possible on ebay tomorrow in an attempt to get more together

Angiepange

kaleidoscope wrote: »

I have just opened a cash minder account with the co op..it was very easy and the first question she asked me was if I was about to obtain a BR..I told her yes..but she was lovely..went through the application in detail..and account is now just about set up..(just waiting on paperwork in the post)

have downloaded the BR forms from the insolvency site and note that they will want my accounts for the last two years which is fine as 2009/2010 still fresh in my mind as have just completed my tax return..so at least I know where they are..feeling a little more positive after a conversation with NDL..as they have agreed that BR is my best course of action..have cried buckets this morning..partly tears of feeling a complete failure and tears of relief

Ive decided to get my application in asap currently have half the required fee, will be listing as much as possible on ebay tomorrow in an attempt to get more together

Well done on taking all the positive steps to getting everything sorted.

The Co Op cashminder is a great account and we've had ours running smoothly for the last 18 months. Internet banking is a little slow but their customer service is really good.

The forms seem daunting to start with but even if you do a bit at a time you soon get there. Anything you are unsure of, post on here, there's so much help and support available

Good luck Ebaying too.

And on the emotional side, you will be all over the place right now, but it will get easier and don't be so hard on yourself, we have all been there and out the other side. Look after yourself xx

kaleidoscope

Thank you..I just need to get my SOA correct as Im not sure at present what to put regarding car expenses..
Ive left internet on as we have a 17 year old at 6th form who does need the internet and also I do too if I decide to carry on trading

Angiepange

kaleidoscope wrote: »

Thank you..I just need to get my SOA correct as Im not sure at present what to put regarding car expenses..
Ive left internet on as we have a 17 year old at 6th form who does need the internet and also I do too if I decide to carry on trading

Im sorry Im not much help with SOA's. Ours were accepted by our OR with no queries. We had no surplus either. I have mimimum experience of what's allowed and what isn't, so would hate to advise you wrongly.:o

Hopefully another poster will help soon

kaleidoscope

Im hoping too that someone can advise regarding my self employment..my tax return for 2009/2010 shows an actual profit of £800..so do I divide by 12 to get an estimate of my monthly income? it does need declaring but I can only declare what I definitely know I made..

tigerfeet2006

kaleidoscope wrote: »

Ive just re done my SOA..this time Ive added my husbands contribution as the bills he pays in full or contributes to..but have left off the car lease payment..but left on the diesel etc as we share those costs..or would I better leaving all car related things off altogether? You can put the car down in the vehicle I have use of section and make a note at the end of the forms that you share the costs and what you use it for. Is it essential travel? ie: you would be stuffed if you couldn't drive because it would be impossible to get the bus.
Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 4
Number of cars owned....................

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1278.25
Benefits................................ 853
Other income............................ 0
Total monthly income.................... 2131.25

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 650
Management charge (leasehold property).. 0
Council tax............................. 150
Electricity............................. 80
Gas..................................... 100
Oil..................................... 0
Water rates............................. 53
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 25
Groceries etc. ......................... 600
Clothing................................ 60
Petrol/diesel........................... 100
Road tax................................ 11.25
Car Insurance........................... 25
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0 £5 per child per week for activities. £2 per day primary school dinners, £3 secondary.
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 5
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 40
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2001.25


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
credit card....................3800......135.......14
credit card....................2500......80........12
loan...........................10000.....262.......16
overdraft......................1130......0.........16
loan...........................2000......154.......8
Total unsecured debts..........19430.....631.......-


Monthly Budget Summary
Total monthly income.................... 2,131.25
Expenses (including HP & secured debts). 2,001.25
Available for debt repayments........... 130
Monthly UNsecured debt repayments....... 631
Amount short for making debt repayments. -501

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -19,430
Net Assets.............................. -19,430

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

made some comments.

tigerfeet2006

If you are not in arrears with gas and electricity can you change supplier? Click on the utilities/phone tab in dark green above to follow Martins tips.

kaleidoscope

Thanks Tigerfeet

yes we would be stuffed without the car as I need to take the children to school each day,pick husband up from work

we are on pre payment meters and we looked at changing suppliers but for pre payment meters they are all quite similiar..

I think the electric is quite high at the moment because its winter..we are using the tumble dryer which makes a difference

Gas I think is a bout right in winter for a family of 6..but obviously I will be hoping that goes down as we put the heating on less and less

tigerfeet2006

I am assuming you have night storage heaters. We had them in a flat we were in and had a meter as well and used to pay £50 a week in the winter, so I know what it's like.

Make sure you put a bit explaining this at the back of the forms.

kaleidoscope

tigerfeet2006 wrote: »

I am assuming you have night storage heaters. We had them in a flat we were in and had a meter as well and used to pay £50 a week in the winter, so I know what it's like.

Make sure you put a bit explaining this at the back of the forms.

amazingly enough..no!..that £80 a month is just general electricity consumption which we are quite bemused about..Ive routinely checked the meter after using things like the tumble dryer /electric oven etc and its goes down significantly

I had night storage heaters many years ago and got a quarterly bill during winter of £400:eek: