Soa - what do you think??
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SKINTMARE
Posts: 32 Forumite
Ive pasted a copy of my soa for any kind persons to have a look over and feel free to help me adjust in any way.......... Ive put down husbands business debts too as i would be liable for them if he goes bankrupt so may as well lump them in.
Please you dont need to tell me how stupid we have been, wish i'd made him shut shop a lot sooner but its a male pride thing.... alot of good thats doing us now.... anyway whats done is done just got to find a light at the end of the tunnel.
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 1253
Other income............................ 0
Total monthly income.................... 1253
Monthly Expense Details
Mortgage................................ 120
Secured/HP loan repayments.............. 626
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 20
Electricity............................. 86
Gas..................................... 0
Oil..................................... 0
Water rates............................. 69
Telephone (land line)................... 40
Mobile phone............................ 70
TV Licence.............................. 12
Satellite/Cable TV...................... 20
Internet Services....................... 17
Groceries etc. ......................... 433
Clothing................................ 110
Petrol/diesel........................... 130
Road tax................................ 33
Car Insurance........................... 73
Car maintenance (including MOT)......... 10
Car parking............................. 5
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 30
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 33
Presents (birthday, christmas etc)...... 10
Haircuts................................ 15
Entertainment........................... 80
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2042
Assets
Cash.................................... 0
House value (Gross)..................... 129000
Shares and bonds........................ 0
Car(s).................................. 2500
Other assets............................ 0
Total Assets............................ 131500
Secured & HP Debts
Description....................Debt......Monthly
Mortgage...................... 54000....(120)
Secured Debt.................. 57459....(626)
Total secured & HP debts...... 111459....-
Unsecured Debts
Description....................Debt......Monthly
VIRGIN CREDIT CARD.............3690......63
SIMPLY BE CATALOGUE............2476.54...127
CAPITAL 1 CREDIT CD............2963......60
BUSINESS MISC DEBTS............300.......0
BUSINESS TELEPHONE.............79.33.....0
BUSINESS ELECTRIC..............824.08....0
BUSINESS WATER BILL............131.26....0
BUSINESS ADVERTISING...........1056......0
SUPPLIERS DEBTS................15869.....0
BUSINESS PAYE..................15833.....0
BUSINESS TAX...................4730......0
BUSINESS VAT...................21000.....0
ELECTRIC.......................200.......21
MSDW...........................2333......215
LLOYDS VISA....................9217......40
LLOYDS OVERDRAFT...............5501......120
EVANS STORE CARD...............1079......33
Total unsecured debts..........87282.21..679
Monthly Budget Summary
Total monthly income.................... 1,253
Expenses (including HP & secured debts). 2,042
Available for debt repayments........... -789
Monthly UNsecured debt repayments....... 679
Amount short for making debt repayments. -1,468
Personal Balance Sheet Summary
Total assets (things you own)........... 131,500
Total HP & Secured debt................. -111,459
Total Unsecured debt.................... -87,282.21
Net Assets.............................. -67,241.21
Please you dont need to tell me how stupid we have been, wish i'd made him shut shop a lot sooner but its a male pride thing.... alot of good thats doing us now.... anyway whats done is done just got to find a light at the end of the tunnel.
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 1253
Other income............................ 0
Total monthly income.................... 1253
Monthly Expense Details
Mortgage................................ 120
Secured/HP loan repayments.............. 626
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 20
Electricity............................. 86
Gas..................................... 0
Oil..................................... 0
Water rates............................. 69
Telephone (land line)................... 40
Mobile phone............................ 70
TV Licence.............................. 12
Satellite/Cable TV...................... 20
Internet Services....................... 17
Groceries etc. ......................... 433
Clothing................................ 110
Petrol/diesel........................... 130
Road tax................................ 33
Car Insurance........................... 73
Car maintenance (including MOT)......... 10
Car parking............................. 5
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 30
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 33
Presents (birthday, christmas etc)...... 10
Haircuts................................ 15
Entertainment........................... 80
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2042
Assets
Cash.................................... 0
House value (Gross)..................... 129000
Shares and bonds........................ 0
Car(s).................................. 2500
Other assets............................ 0
Total Assets............................ 131500
Secured & HP Debts
Description....................Debt......Monthly
Mortgage...................... 54000....(120)
Secured Debt.................. 57459....(626)
Total secured & HP debts...... 111459....-
Unsecured Debts
Description....................Debt......Monthly
VIRGIN CREDIT CARD.............3690......63
SIMPLY BE CATALOGUE............2476.54...127
CAPITAL 1 CREDIT CD............2963......60
BUSINESS MISC DEBTS............300.......0
BUSINESS TELEPHONE.............79.33.....0
BUSINESS ELECTRIC..............824.08....0
BUSINESS WATER BILL............131.26....0
BUSINESS ADVERTISING...........1056......0
SUPPLIERS DEBTS................15869.....0
BUSINESS PAYE..................15833.....0
BUSINESS TAX...................4730......0
BUSINESS VAT...................21000.....0
ELECTRIC.......................200.......21
MSDW...........................2333......215
LLOYDS VISA....................9217......40
LLOYDS OVERDRAFT...............5501......120
EVANS STORE CARD...............1079......33
Total unsecured debts..........87282.21..679
Monthly Budget Summary
Total monthly income.................... 1,253
Expenses (including HP & secured debts). 2,042
Available for debt repayments........... -789
Monthly UNsecured debt repayments....... 679
Amount short for making debt repayments. -1,468
Personal Balance Sheet Summary
Total assets (things you own)........... 131,500
Total HP & Secured debt................. -111,459
Total Unsecured debt.................... -87,282.21
Net Assets.............................. -67,241.21
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Comments
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The thing that is screaming out at me is that even after BR you have a massive deficit of nearly £800. How can you survive if these figures are right? The judge would query this and possibly deny you BR anyway.Are you sure your figures are right? Also why do you need the car?. Sorry if those comments seem harsh as they are not meant to be.:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0 -
Thankyou for looking, I think I have been following the debtline book too much... the truth mainly is we dont have money mostly for clothes/haircuts/food a month but the book says put so much down!!! we lived very poorly before my husbands job went pair shaped now we are living hand to mouth with nothing. I will adjust to what it is in the real world for us...... and we only need one car we are trying to sell the other one, as i need one to get to my mum and dads as she has been bed ridden with a stroke and my dads 83 they need me to help look after them.
If i adjust do you think that would be better? Im really sorry to sound so thick, im reading too much from the leaflets I think....0 -
Hi Skintmare, you have to put down what you actually spend as the OR will smell a rat if you are following guidelines for expenses and then go through your BR with a fine toothcomb!! Remember they will see all your bank statements and DD's so know how much you do spend.
Best wishes
If...x"If wishes were horses, then beggars would ride"
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even when I adjust it, to my more realistic outgoings it still comes out as £-626. I dont know what to do........ im really scared now...... we were going to either give house back or try to sell it but current climate means no guarantee of a sale for a while....... I just dont know what to do, I felt that bankruptcy was our only help but if the judge wont grant it where does that leave us...... what could I do..... help ..... please ......0
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Thankyou "IF WISHES WERE HORSES" x0
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Hi have you added child tax credits and child benefit to your income as it seems really low.
Electric need to take into account the increase in winter.0 -
Thankyou for looking, I think I have been following the debtline book too much... the truth mainly is we dont have money mostly for clothes/haircuts/food a month but the book says put so much down!!! we lived very poorly before my husbands job went pair shaped now we are living hand to mouth with nothing. I will adjust to what it is in the real world for us...... and we only need one car we are trying to sell the other one, as i need one to get to my mum and dads as she has been bed ridden with a stroke and my dads 83 they need me to help look after them.
If i adjust do you think that would be better? Im really sorry to sound so thick, im reading too much from the leaflets I think....
Check you are getting any carers allowance or any other benefits for this if appropriate. Sll both cars and get/use bicycles if poss.0 -
yes put £100 per week JSA (husband) £146 Child tax credit per week and £188 Child benedfit every 4 weeks..... Its the first month since hubby closed up business so maybe Im putting too much down.... we havent paid mortgage or any of the loans yet cant find enough for them this month yet...0
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Yes I will sell both cars now after reading everyones comments...... keep me fit walking! Its just hit me this morning when I read "dojomans's" comments the thought hadnt crossed my mind that the judge wouldnt grant the BR..... Its hit me like a brick wall. If it wasnt for you lot I would be even more in trouble.... cant thankyou all enough....keep coming with your help comments...0
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What is the secure/H.P payments for? If you can get rid of this it will make your life easier.
Also the mobile phone , satellite will have to be put as 0. Your entertainment seems very high.0
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