SOA help please

molly1412

Hi everyone,

just getting through ALL the paperwork for court and wanted to run my SOA past everyone - also wanted to mention we dont have 3 children full time, just 1 baby the other 2 children come 3 days a week so i am not sure what we would be allowed also we dont have a car but i have been offered to use my parents car if i pay for insurance and fuel - would this be allowed i only need to take my little boy to nursery & shops etc (although they could prob argue that i could get public transport) - any comments would be apprecaited

also states that we dont earn enough to cover outgoing but OH wage fluctuates so if they take an average over the year then we do and i would imagine they will put IPA in place


Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 3
Monthly Income Details
Monthly income after tax................ 2300
Partners monthly income after tax....... 0
Benefits................................ 80
Other income............................
Total monthly income.................... 2380
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 875
Management charge (leasehold property).. 0
Council tax............................. 180
Electricity............................. 75
Gas..................................... 75
Oil..................................... 0
Water rates............................. 50
Telephone (land line)................... 20
Mobile phone............................ 40
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 500
Clothing................................ 100
Petrol/diesel........................... 100
Road tax................................ 0
Car Insurance........................... 30
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 30
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 16
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 30
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Child Maintenace
Total monthly expenses.................. 2464

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
Total unsecured debts..........0.........0.........-

Monthly Budget Summary[/b]
Total monthly income.................... 2,308
Expenses (including HP & secured debts). 2,164
Available for debt repayments........... 144
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 144

Niv

molly1412 wrote: »

Hi everyone,


Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 3
Monthly Income Details
Monthly income after tax................ 2300
Partners monthly income after tax....... 0
Benefits................................ 80
Other income............................
Total monthly income.................... 2380
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 875
Management charge (leasehold property).. 0
Council tax............................. 180
Electricity............................. 75 This is high, can you switch
Gas..................................... 75 This si also hig, can you switch/get combimed fuel deal?
Oil..................................... 0
Water rates............................. 50 This looks expensive. Are you on a meter/ in arrears?
Telephone (land line)................... 20
Mobile phone............................ 40
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 500 This is VERY high. This can be reduced dramatically. go look at the old style savings board
Clothing................................ 100 Too high as a monthly figure imo.
Petrol/diesel........................... 100
Road tax................................ 0
Car Insurance........................... 30 Are you paying for al the insuracne or just teh stra for you being named on it? If the car owners use the car they shouyld pay their fair share imo.
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 30 What is this? I assume bus fare
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 16 Would an annual prescription be cheaper?
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 30
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Child Maintenace
Total monthly expenses.................. 2464

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
Total unsecured debts..........0.........0.........-

Monthly Budget Summary[/b]
Total monthly income.................... 2,308
Expenses (including HP & secured debts). 2,164
Available for debt repayments........... 144
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 144

Plenty of scope to cut down to help even out the troughs in the earnings.

fermi

I think the SOA may need to be looked at regards what might be considered reasonable in bankruptcy, rather than what can be cut down to the bone?

e.g. some things higher than the OR might accept? Or that they would need proof on if higher than average?

Conversely, some things may be underestimated or missed out. A common thing when people have been struggling with debt.

molly1412

the gas and electricity cannot be changed they have said thats the monthly figures we are trying to get this down but at the moment its combined dd of 150 (can we change provider if we are in rented?)

water - we are not on a meter and again that is what they have said we have to pay

how can groceries be high for 3 children one of which a baby with nappies etc at the moment we spend much more that is already cutting down - is there anywhere that you can find a maximum allowance for these items?

thanks

Ineedaname

Gas and electric provider can be changed as long as there's nothing in your rental contract which says you can't.

As you only have two of the children for less than half the week I guess you could average that out on groceries as one baby and one extra child for the whole week. The guide groceries figure I have for two adults plus 2 children is £488 pcm. That is just a guide though and it would be up to an OR to decide how much to allow you given your circumstances.

You may not be given the allowances for vehicle use if you are unable to prove a need for personal transport over public transport.

The medical figure of £16 pcm for two adults seems reasonable to me if one needs to save up for glasses and/or there is regular dental work needed. If regular prescriptions are bought then a pre-pay certificate is worth looking into. There are also dental plans available if a lot of work is required over time.

Gothicfairy

Look into getting a water meter fitted for a start.

£500 per month seems a hell of a lot for food as does £100 per month for clothes, you can't buy clothes every month surely ?

peb

Not an option - if property is rented the landlord will not allow.

NB, As Fermi points out this is an SOA for presentation so it is important that the OP is realistic.

Good luck

Gothicfairy

If you* have been there more then 6 months the landlord does not have a say. It is a legal right.

Sorry read your reply as being from the op as you seem to know the landlord would not allow it.

dojoman

I have changed my suppliers 3 times whilst being BR, just check your tenancy agreement. Also I was allowed £500 for 2 adults one child (Nov 09) but it is up to the OR, don`t worry they will tell if they think something is too high. Also ignore any comments about cutting things to the bone, this is an SOA for BR it is not about cutting costs.

tigerfeet2006

Niv wrote: »

Plenty of scope to cut down to help even out the troughs in the earnings.

Niv, as Fermi says this is a SoA for BR which is a completely different to a SoA for the DFW board.

Molly, of course you can choose which supplier you go with for your utilities. Just read Martin's guide on the tabs at the top of the page.

Not 100% with the car as it is not essential for work. Best double check with the debt charity you are dealing with.

£500 seems fairish for 5 people so leave it at that. If the OR wants to reduce it as they are not with you full time then he can. But you don't ask and you don't get. Though I do agree you can aim to reduce those bills when you have been made BR. We are a family of 5 and as you can see from my signature it is very easily possible. I have been hitting under the £400 mark for the last couple of months (I was spending around £700 at on point). Pop onto the Oldstyle board as suggested and read the Grocery Challenge and some threads, they are a great bunch over there and will help you with your budget.

As for the IPA then the OR will ask for the wage slips most likely and see how much extra you get over 6-9 months over and above your outgoings and then see if an IPA is possible. But as you say each OR is different so we can't be certain.

ETA: Most points have been answered already as I was typing and sorting arguements between the kids. But I will leave the post as it is.

~Fleur~

Hi Molly,

Having just gone through all of this last week my advice would be to put down what you need to live to a reasonable standard. Be prepared to 'evidence' particular amounts. For example I put down £33 a month for dog insurance, I explained that this was for 3 dogs and was just basic vet fee's and Public Liability which is essential IMO. This was accepted after a brief discussion!! However their food comes out of my grocery allowance which is fair enough. One thing my OR was 'hot' on was my amounts for gas, elec and water. I currently pay £43 for water- but he only allowed £36, my gas and elec were also reduced.
I am no expert but I suspect your £130 on your car usage will be looked at as it is quite a large sum for nursery/shops.
Anyway, good luck and i'm sure you will get through it. For me, despite having and IPA for 36 months, anything is better than being bogged down with so much debt