About to take the step

Ineedaname

riche36 wrote: »

sorry about that here it is below

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1650
Partners monthly income after tax....... 960
Benefits................................ 80
Other income............................ 0
Total monthly income.................... 2690
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 550
Management charge (leasehold property).. 0
Council tax............................. 132
Electricity............................. 50
Gas..................................... 90
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 0 do you not have a landline?
Mobile phone............................ 70 generally not allowed in BR unless you can prove a need, i.e. for work
TV Licence.............................. 15 13
Satellite/Cable TV...................... 29 generally not allowed
Internet Services....................... 0 no internet for the kids homework?
Groceries etc. ......................... 350
Clothing................................ 25
Petrol/diesel........................... 320 this is high, OR may need to see proof
Road tax................................ 20
Car Insurance........................... 45
Car maintenance (including MOT)......... 25
Car parking............................. 15 again OR may need to see proof
Other travel............................ 16 what is this?
Childcare/nursery....................... 96
Other child related expenses............ 15
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 9
Buildings insurance..................... 0
Contents insurance...................... 18 could possibly get this cheaper before going BR
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 25 not allowed
Haircuts................................ 40 30
Entertainment........................... 25 not allowed
Holiday................................. 25
Emergency fund.......................... 25
Total monthly expenses.................. 2070

Is it just you going BR? If so why have you included your wife's personal mobile expenses in the SOA? This should be about joint household expenditure plus your own personal expenses. If you pay your wife's mobile costs then the OR is highly unlikely to allow this.

Remember your wife's contribution to the joint expenses should be proportionate to her income as a percentage of total household income.

Are the benefits yours or your wife's or CB/Tax Credits?

The statement of affairs on the BR form looks nothing like this, it's very basic but allows a box for 'additional essential expenditure' where you can put all the items not listed on the form. However, I included a typed I&E sheet which the OR was happy with. Just put "please see additional sheet" on the form and include total figures. Make sure you sign and date the additional sheet and type your full name and address on it too. Makes it official and means if it gets separated from your form they can match them up again later.

riche36

Ineedaname wrote: »

Is it just you going BR? If so why have you included your wife's personal mobile expenses in the SOA? This should be about joint household expenditure plus your own personal expenses. If you pay your wife's mobile costs then the OR is highly unlikely to allow this.

Remember your wife's contribution to the joint expenses should be proportionate to her income as a percentage of total household income.

Are the benefits yours or your wife's or CB/Tax Credits?

The statement of affairs on the BR form looks nothing like this, it's very basic but allows a box for 'additional essential expenditure' where you can put all the items not listed on the form. However, I included a typed I&E sheet which the OR was happy with. Just put "please see additional sheet" on the form and include total figures. Make sure you sign and date the additional sheet and type your full name and address on it too. Makes it official and means if it gets separated from your form they can match them up again later.

Thanks for help, the figures i have put in are everything we pay out together so includes the partners personel expenses i got a bit muddled up filling everything out.

1) We have never had a landline as we both have mobiles.

2) The internet is connected to the laptop via my mobile.

3) We will move sky to the wifes name.

4) Other travel is my bus fair.

5) Car parking can be removed.

6) I will start to collect fuel recipts to prove usage.

7) The child allowance is in my partners name.

Ineedaname

riche36 wrote: »

Thanks for help, the figures i have put in are everything we pay out together so includes the partners personel expenses i got a bit muddled up filling everything out.

1) We have never had a landline as we both have mobiles. Remove wife's mobile from your SOA

2) The internet is connected to the laptop via my mobile. In which case it's a matter for discussion with the OR that you have a mobile instead of landline and that costs include internet connection, plus proving the need for internet for kids' schoolwork...

3) We will move sky to the wifes name. Sorted

4) Other travel is my bus fair. If you have two cars why do you need to take the bus. You may have trouble convincing the OR you need two cars if public transport is available for work. So be prepared to maybe losing one of the cars.

5) Car parking can be removed. If it's a valid use then keep it in, but you will probably need to be able to justify it to the OR.

6) I will start to collect fuel recipts to prove usage. As above regarding proving need.

7) The child allowance is in my partners name. In which case remove it from your SOA but still include child expenses on your SOA and apportion wife's contribution accordingly to cover her percentage of those costs.

I hope the additional comments help.

To apportion your wife's contribution. Add both your incomes (including benefits) together and work out what percentage her income is of the total.

Then add all joint expenses together and your wife's contribution is the above percentage of those expenses.

riche36

Ineedaname wrote: »

I hope the additional comments help.

To apportion your wife's contribution. Add both your incomes (including benefits) together and work out what percentage her income is of the total.

Then add all joint expenses together and your wife's contribution is the above percentage of those expenses.

We have 2 cars, the expensive one in my name that will definately go and a cheap £200 car thats in my partners name thats currentlt off the road to try and save money.

if i earn £1650 and my partner earns £960 and we get £80 child allowance whats the percentage differance i just cant seem to get the same answer?

Ineedaname

Thanks for the clarification about the cars.

If you put all your child expenses on your SOA then I would suggest the following:

Your income is then £1650 and your partner's £960 excluding CB. Total income = £2610 so your percentage is 63.218% and your partner's percentage is 36.782%.

Total all joint household expenses, including the kids' costs. Your partner's income contribution is then 36.782% of that total, plus the £80 CB for the kids.

OR

You could total all joint household expenses, excluding the kids' costs. Your partner's income contribution is still 36.782% of the total, plus the equivalent for the kids' costs. So if the kids' expenses work out at £65 then just add that to your partner's contribution and she can keep the remainder of the CB for incidentals such as school uniform and new shoes. I mention this option as it is understood that CB isn't spent fully on the kids every month, as the former option would suggest.

Hope that helps.

riche36

Ineedaname wrote: »

Thanks for the clarification about the cars.

If you put all your child expenses on your SOA then I would suggest the following:

Your income is then £1650 and your partner's £960 excluding CB. Total income = £2610 so your percentage is 63.218% and your partner's percentage is 36.782%.

Total all joint household expenses, including the kids' costs. Your partner's income contribution is then 36.782% of that total, plus the £80 CB for the kids.

OR

You could total all joint household expenses, excluding the kids' costs. Your partner's income contribution is still 36.782% of the total, plus the equivalent for the kids' costs. So if the kids' expenses work out at £65 then just add that to your partner's contribution and she can keep the remainder of the CB for incidentals such as school uniform and new shoes. I mention this option as it is understood that CB isn't spent fully on the kids every month, as the former option would suggest.

Hope that helps.

Thats really helpful thanks. its all starting to make sense now.

riche36

Ok i have worked out i will have £504.89 remaining. I assume an IPA will be set up and remove the £504.89. So what will happen to my money between my court hearing and the IPA being set up? will it just be left in my account and not be touched?

Ineedaname

It's yours...

dojoman

I would up your groceries to £450, I was allowed £500 for 2 adults and 1 child. If the OR thinks it is too much they will say so.

tigerfeet2006

riche36 wrote: »

sorry about that here it is below

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1650
Partners monthly income after tax....... 960
Benefits................................ 80
Other income............................ 0
Total monthly income.................... 2690
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 550
Management charge (leasehold property).. 0
Council tax............................. 132
Electricity............................. 50
Gas..................................... 90
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 0 Max for phones for 2A is £60
Mobile phone............................ 70
TV Licence.............................. 15 £13
Satellite/Cable TV...................... 29 not allowed on SoA must come from surplus or OH pays.
Internet Services....................... 0
Groceries etc. ......................... 350 £450
Clothing................................ 25 £80/90 clothes for you and kids since you have put CHB down. OH pays for hers.
Petrol/diesel........................... 320 Only put your travel costs down.
Road tax................................ 20
Car Insurance........................... 45
Car maintenance (including MOT)......... 25
Car parking............................. 15
Other travel............................ 16
Childcare/nursery....................... 96
Other child related expenses............ 15 £5 per week per child for activities. £2 a day for primary school dinners and £3 secondary.
Medical (prescriptions, dentist etc).... 10 £20
Pet insurance/vet bills................. 9 £20 insurance/vets as you will have to pay for injections etc. not covered by insurance plus your access.
Buildings insurance..................... 0
Contents insurance...................... 18
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 25 not allowed
Haircuts................................ 40 £10 for you. £5 each child
Entertainment........................... 25 not allowed
Holiday................................. 25 £80
Emergency fund.......................... 25 £30
Total monthly expenses.................. 2070

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 7200
Other assets............................ 0
Total Assets............................ 7200

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
hsbc...........................3178......120.......0
halifax........................6151......175.......0
egg............................4144......150.......0
argos..........................759.......75........0
next...........................275.......50........0
car finance....................7200......225.......0
loan...........................19397.....366.......0
Total unsecured debts..........41104.....1161......-

Monthly Budget Summary
Total monthly income.................... 2,690
Expenses (including HP & secured debts). 2,070
Available for debt repayments........... 620
Monthly UNsecured debt repayments....... 1,161
Amount short for making debt repayments. -541
Personal Balance Sheet Summary
Total assets (things you own)........... 7,200
Total HP & Secured debt................. -0
Total Unsecured debt.................... -41,104
Net Assets.............................. -33,904
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Do you wear suits for work? drycleaning £20. Do you pay professional fees or get professional mags/papers that are essential to your job?

I have covered some of the things already covered but was trying to be complete. Re-do your figures and see where that gets you.