Bipolar SOA

conivity

Hello all! Well Bipolar I got the better of me again and my expenditure exceeds income, with a fair bit of debt.

I have managed to negotiate with Natwest 12 months of £1 payments on my overdraft of £7400 to give me space to recover but utilities are driving me further insane!

Anyhow, please find my SOA below. I would really appreciate your help.

I don't really doing anything. My travel Car and entertainment budget on this SOA is used to attend Self Help groups.

I receive ESA and am in the support group for disability (my mental health) with no need to show medical evidence until early 2014.

Many thanks in advance!

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 497.68
Other income............................ 0
Total monthly income.................... 497.68

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 51
Mobile phone............................ 80
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 40
Clothing................................ 0
Petrol/diesel........................... 40
Road tax................................ 22.5
Car Insurance........................... 22
Car maintenance (including MOT)......... 50
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 22
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 15
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
Dog Food................................ 40
Total monthly expenses.................. 472.5


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 300
Other assets............................ 0
Total Assets............................ 300

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Natwest Overdrafrt.............7400......1.........0
House Insurance ...............200.......200.......0
3 Mobile ......................620.......44........0
Rent Arrears...................180.......49........0
Total unsecured debts..........8400......294.......-


Monthly Budget Summary
Total monthly income.................... 497.68
Expenses (including HP & secured debts). 472.5
Available for debt repayments........... 25.18
Monthly UNsecured debt repayments....... 294
Amount short for making debt repayments. -268.82

Personal Balance Sheet Summary
Total assets (things you own)........... 300
Total HP & Secured debt................. -0
Total Unsecured debt.................... -8,400
Net Assets.............................. -8,100

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

RAS

You probably need a debt charity like CAP as they visit

conivity wrote: »

Hello all! Well Bipolar I got the better of me again and my expenditure exceeds income, with a fair bit of debt.

I have managed to negotiate with Natwest 12 months of £1 payments on my overdraft of £7400 to give me space to recover but utilities are driving me further insane!

Anyhow, please find my SOA below. I would really appreciate your help.

I don't really doing anything. My travel Car and entertainment budget on this SOA is used to attend Self Help groups.

I receive ESA and am in the support group for disability (my mental health) with no need to show medical evidence until early 2014.

Many thanks in advance!

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 497.68
Other income............................ 0
Total monthly income.................... 497.68

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 51 - this is massively high - do you have arrears? if not reduce the package or get rid completely. You need to pay off the rent arrears urgently.
Mobile phone............................ 80 this is also massively high as well. Reduce the package urgently. Tell them you will have to default otherwise.
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 40
Clothing................................ 0
Petrol/diesel........................... 40
Road tax................................ 22.5
Car Insurance........................... 22
Car maintenance (including MOT)......... 50
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 22
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 15
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
Dog Food................................ 40
Total monthly expenses.................. 472.5


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 300
Other assets............................ 0
Total Assets............................ 300

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Natwest Overdrafrt.............7400......1.........0
House Insurance ...............200.......200.......0 - are you really sure about this? £200 per month when you do not even own a house?
3 Mobile ......................620.......44........0
Rent Arrears...................180.......49........0
Total unsecured debts..........8400......294.......-


Monthly Budget Summary
Total monthly income.................... 497.68
Expenses (including HP & secured debts). 472.5
Available for debt repayments........... 25.18
Monthly UNsecured debt repayments....... 294
Amount short for making debt repayments. -268.82

Personal Balance Sheet Summary
Total assets (things you own)........... 300
Total HP & Secured debt................. -0
Total Unsecured debt.................... -8,400
Net Assets.............................. -8,100

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

heartbreak_star

conivity wrote: »

Hello all! Well Bipolar I got the better of me again and my expenditure exceeds income, with a fair bit of debt.

I have managed to negotiate with Natwest 12 months of £1 payments on my overdraft of £7400 to give me space to recover but utilities are driving me further insane!

Anyhow, please find my SOA below. I would really appreciate your help.

I don't really doing anything. My travel Car and entertainment budget on this SOA is used to attend Self Help groups.

I receive ESA and am in the support group for disability (my mental health) with no need to show medical evidence until early 2014.

Many thanks in advance!

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0 Can you do surveys from home or anything?
Partners monthly income after tax....... 0
Benefits................................ 497.68 Do you claim all you're entitled to?
Other income............................ 0
Total monthly income.................... 497.68

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 51 Assume internet in here too?
Mobile phone............................ 80 this is crazy high - go to PAYG! :eek:
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 40 seems very low
Clothing................................ 0
Petrol/diesel........................... 40
Road tax................................ 22.5
Car Insurance........................... 22
Car maintenance (including MOT)......... 50
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 22
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 15 leave longer between these?
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0 nothing here?
(Unnamed monthly expense)............... 0
Dog Food................................ 40 drop brands on this, or is it medical grade?
Total monthly expenses.................. 472.5


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 300
Other assets............................ 0
Total Assets............................ 300

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Natwest Overdrafrt.............7400......1.........0
House Insurance ...............200.......200.......0
3 Mobile ......................620.......44........0
Rent Arrears...................180.......49........0
Total unsecured debts..........8400......294.......-


Monthly Budget Summary
Total monthly income.................... 497.68
Expenses (including HP & secured debts). 472.5
Available for debt repayments........... 25.18
Monthly UNsecured debt repayments....... 294
Amount short for making debt repayments. -268.82

Personal Balance Sheet Summary
Total assets (things you own)........... 300
Total HP & Secured debt................. -0
Total Unsecured debt.................... -8,400
Net Assets.............................. -8,100

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

Okay, few suggestions from me in purple. You really need to up your income - check benefit calculators and look into paid surveys etx?

Good luck!

HBS x

rossireps

do you really only spend £40 on food?

conivity

Thanks RAS & HBS.

Telephone (land line)................... 51 - Yes I agree. Unfortunatley I am with KC, with no alternatives in this area, but shall call them to see if I can reduce the package. I am 8 months in to a 2 year contract. It does include internet.

Mobile phone............................ 80 - This comprises of 44 pcm to 3 for an iPhone that my daughter broke. I have already advised them that I will default but they are relentless. 36 pounds goes to o2. The contract ends on Oct the 24th and they have offered me 15.55 for a 600/U/U simplicity packets when this naturally expires. Defaulting on 3 should not be a problem, hey I don't want to get credit in the future and make things worse, but the o2 number is vital to call members of my support group on mobiles when things go mental.

Groceries etc. ......................... 40 - I shop at Tescos when everything gets reduced to 10% or indeed 1p.

Dog Food................................ 40 - I have dropped brands and advance purchased enough in bulk to take me to the end of this calender year. I annualized what this cost & divided it by 12 to get a monthly figure.

House Insurance ...............200. Sorry this is for a contents policy that was cancelled and payment in full is being demanded. 200 owing.

Can you do surveys from home or anything? I struggle to even think straight, but I should be able to do something here. I currently do not.

Benefits................................ 497.68 Do you claim all you're entitled to? I should be able to claim DSA as my Disability is severe but the forms are incredibly complex and geared towards Physical Disability. I simply can't get my head around it and the mental health team are most unhelpful.

conivity

rossireps wrote: »

do you really only spend £40 on food?

Oh yes. And somewhat amusingly eat very well. Adopting a vegetarian diet helped cut costs.

RAS

conivity wrote: »

Thanks RAS & HBS.

Telephone (land line)................... 51 - Yes I agree. Unfortunatley I am with KC, with no alternatives in this area, but shall call them to see if I can reduce the package. I am 8 months in to a 2 year contract. It does include internet.

Reduce the package as much as possible now and see if you can reduce after one year.

Mobile phone............................ 80 - This comprises of 44 pcm to 3 for an iPhone that my daughter broke. I have already advised them that I will default but they are relentless. 36 pounds goes to o2. The contract ends on Oct the 24th and they have offered me 15.55 for a 600/U/U simplicity packets when this naturally expires. Defaulting on 3 should not be a problem, hey I don't want to get credit in the future and make things worse, but the o2 number is vital to call members of my support group on mobiles when things go mental.

In which case your daughter needs to fund the broken mobile costs. Or you need to default on that - relentless or not. paying your rent is the priority.

Groceries etc. ......................... 40 - I shop at Tescos when everything gets reduced to 10% or indeed 1p.

Dog Food................................ 40 - I have dropped brands and advance purchased enough in bulk to take me to the end of this calender year. I annualized what this cost & divided it by 12 to get a monthly figure.

House Insurance ...............200. Sorry this is for a contents policy that was cancelled and payment in full is being demanded. 200 owing.

Can you re-instate this policy so that you at least get the benefit of the money you owe? That will probably them take your monthly budget just about into the black

Can you do surveys from home or anything? I struggle to even think straight, but I should be able to do something here. I currently do not.


There are clicks and surveys around. You get vouchers so it does not count as income

Benefits................................ 497.68 Do you claim all you're entitled to? I should be able to claim DSA as my Disability is severe but the forms are incredibly complex and geared towards Physical Disability. I simply can't get my head around it and the mental health team are most unhelpful.

You need to get the budget into balance ASAP and sort the rent out.

Consumer credit debt can wait.

conivity

RAS wrote: »

You probably need a debt charity like CAP as they visit

I just tried to contact CAP but they do not operate in my area.

DCFC79

conivity wrote: »

Telephone (land line)................... 51 Is the internet included too
Mobile phone............................ 80
This is high, how far are you from end of the contract ? Maybe as the network operator to change your plan and at end of your contract either get a cheaper deal, get a sim only deal or a 30 day contract.
TV Licence.............................. 0 No v then or is it included with the landline
Satellite/Cable TV...................... 0 as above
Internet Services....................... 0 as above
Groceries etc. ......................... 40 Seems low but ill let others decide what it should be
Haircuts.............................. 15 Any colleges nearby you can get it cut, might be able to get it done cheaper or do you know a friend who would cut it at yours ?

Just a few suggestions

Well done on negotiating with natwest for reduced payments.

tonyh66

Telephone (land line)................... 51 - Yes I agree. Unfortunatley I am with KC, with no alternatives in this area, but shall call them to see if I can reduce the package. I am 8 months in to a 2 year contract. It does include internet. Im not familiar with this, are you saying BT is not available in your area? do you know the name of your local exchange or perhaps you could give us your postcode, someone could look into this

Mobile phone............................ 80 - This comprises of 44 pcm to 3 for an iPhone that my daughter broke. I have already advised them that I will default but they are relentless. Is this related to the cancelled contents policy?

House Insurance ...............200. Sorry this is for a contents policy that was cancelled and payment in full is being demanded. 200 owing. Whats the story behind this? I have never heard of a policy being payable in full on cancellation?


Benefits................................ 497.68 Do you claim all you're entitled to? I should be able to claim DSA as my Disability is severe but the forms are incredibly complex and geared towards Physical Disability. I simply can't get my head around it and the mental health team are most unhelpful. Can someone at your help group or a friend help with this, failing that CAB might be able to.

conivity

tonyh66 wrote: »

Telephone (land line)................... 51 - Yes I agree. Unfortunatley I am with KC, with no alternatives in this area, but shall call them to see if I can reduce the package. I am 8 months in to a 2 year contract. It does include internet. Im not familiar with this, are you saying BT is not available in your area? do you know the name of your local exchange or perhaps you could give us your postcode, someone could look into this

That is correct. BT is not available in this area. Only Kingston Communications. Postcode is HU17

Mobile phone............................ 80 - This comprises of 44 pcm to 3 for an iPhone that my daughter broke. I have already advised them that I will default but they are relentless. Is this related to the cancelled contents policy?

No. This item was not insured.

House Insurance ...............200. Sorry this is for a contents policy that was cancelled and payment in full is being demanded. 200 owing. Whats the story behind this? I have never heard of a policy being payable in full on cancellation?

I'll pull the letter and post the text. I don't understand it myself, it seems bizarre.


Benefits................................ 497.68 Do you claim all you're entitled to? I should be able to claim DSA as my Disability is severe but the forms are incredibly complex and geared towards Physical Disability. I simply can't get my head around it and the mental health team are most unhelpful. Can someone at your help group or a friend help with this, failing that CAB might be able to.

I don't really have any friends. This illness is quite isolating. I shall enquire at the CAB as to if they can help.

Many thanks!