Soa

sort_me_own_yard_out

Hi All,

Can you please take a look at my final SOA before I write it down ready for the CAB and RBL checking my court paperwork tomorrow.

My housing benefit is due to drop £30 per month on the 11th March and my landlord told me before Christmas that my rent is due to rise by £50 per month 1st Feb.

Many Thanks

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................ 923.65
Partners monthly income after tax....... 0
Benefits................................ 960.82
Other income............................ 304
Total monthly income.................... 2188.47

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 92
Electricity............................. 75
Gas..................................... 55
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 55
Mobile phone............................ 45
TV Licence.............................. 12
Satellite/Cable TV...................... 24
Internet Services....................... 0
Groceries etc. ......................... 450
Clothing................................ 90
Petrol/diesel........................... 220
Road tax................................ 14
Car Insurance........................... 43
Car maintenance (including MOT)......... 30
Car parking............................. 15
Other travel............................ 0
Childcare/nursery....................... 90
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 25
Buildings insurance..................... 0
Contents insurance...................... 13
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 29
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 30
school dinners.......................... 20
dry cleaning ........................... 15
RAC cover............................... 12
Total monthly expenses.................. 2084


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1100
Other assets............................ 0
Total Assets............................ 1100

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
various........................43705.....0.........0
Total unsecured debts..........43705.....0.........-


Monthly Budget Summary
Total monthly income.................... 2,188.47
Expenses (including HP & secured debts). 2,084
Available for debt repayments........... 104.47
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 104.47

Personal Balance Sheet Summary
Total assets (things you own)........... 1,100
Total HP & Secured debt................. -0
Total Unsecured debt.................... -43,705
Net Assets.............................. -42,605

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

PippaGirl_2

Telephone (land line)................... 55
Mobile phone............................ 45
Satellite/Cable TV...................... 24

I think the above are too high. Landline I think with BT is less than £20 and cheaper with other providers?
Is the mobile phone costs for you and one/two children? If so, explain that on the SOA as I doubt they would allow that for one person. I pay £10.50 a month for unlimited texts, 300 minutes and 500mb data for example.
They usually do allow satellite if it's the basic package.

I'd put something in presents/birthdays.

All the best with it.

sort_me_own_yard_out

Thanks Pippa,

The phone line is including broadband. I am looking into cheaper providers. Sky package I am sure is the basic one. Yes the mobile is for mine and my 12 year old. I was hoping to get them unlocked but no one is unlocking orange/ee at the moment because of a new licence or something. I would really like to go onto payg with giff gaff and put the contract into my bankruptcy.
Can I put presents down? Mind I suppose the worst they can say is no!

Thanks again

Smamfer

sort_me_own_yard_out wrote: »

Hi All,

Can you please take a look at my final SOA before I write it down ready for the CAB and RBL checking my court paperwork tomorrow.

My housing benefit is due to drop £30 per month on the 11th March and my landlord told me before Christmas that my rent is due to rise by £50 per month 1st Feb.

Many Thanks

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................ 923.65
Partners monthly income after tax....... 0
Benefits................................ 960.82
Other income............................ 304
Total monthly income.................... 2188.47

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 92
Electricity............................. 75( this seems high if you are out majority of day, can you maybe cut down on washing/lighting etc)
Gas..................................... 55
Oil..................................... 0
Water rates............................. 40 (this seems a little high too are you using least amount as possible)
Telephone (land line)................... 55
(as someone said before this is very very high i pay £25 a month with Post office for landline and broadband its unlimited, not a contract and actually owned by BT.)
Mobile phone............................ 45 (Sometimes by admitting poverty/struggling some companies will cut this down to keep you rather than have you just jack it in and owe them)
TV Licence.............................. 12
Satellite/Cable TV...................... 24( as sky only have you in a contract for 30 days could you not change to freeview for a while?)
Internet Services....................... 0
Groceries etc. ......................... 450 (i find this really really high you should be able to do this for about £300 absolute maximum)
Clothing................................ 90 ( is this every month????)
Petrol/diesel........................... 220 (nrly 60 a week on petrol is this for work reasons could you car share maybe?)
Road tax................................ 14
Car Insurance........................... 43 (maybe shop around as depending on car this seems high)
Car maintenance (including MOT)......... 30
Car parking............................. 15
Other travel............................ 0
Childcare/nursery....................... 90
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 25
Buildings insurance..................... 0
Contents insurance...................... 13
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 (you need something here for this)
Haircuts................................ 29 (every month????)
Entertainment........................... 0 ( you dont go out or do anything at all?)
Holiday................................. 40
Emergency fund.......................... 30
school dinners.......................... 20
dry cleaning ........................... 15 (why do you need this?)
RAC cover............................... 12
Total monthly expenses.................. 2084


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1100
Other assets............................ 0
Total Assets............................ 1100

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
various........................43705.....0.........0
Total unsecured debts..........43705.....0.........-


Monthly Budget Summary
Total monthly income.................... 2,188.47
Expenses (including HP & secured debts). 2,084
Available for debt repayments........... 104.47
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 104.47

Personal Balance Sheet Summary
Total assets (things you own)........... 1,100
Total HP & Secured debt................. -0
Total Unsecured debt.................... -43,705
Net Assets.............................. -42,605

Im not overly qualified to do this but theres some things that really jump out where money is going on nothing which i have highlighted for you .

I

fermi

This is a SOA for the BR forms.

So it's not really for cutting down as a primary goal, unless expenses are excessive considering what the OR may allow.

It's more a case of making sure that they are reasonable, nothing has been forgotten, you are not leaving yourself short in any area, and that it's going to be sustainable.

tiggerbodhi

+1 on fermi's post, this is a BR SOA, the figures have to be sustainable.

Holidays the OR guidelines seem to favour £20 per person.

They may baulk at the Mobile/Telephone side of things, but if you don't ask you don't get, put it in see what they say.

IMHO with kids you should have Life insurance, the OR will allow this.

If it's ok to ask what Pet have you got, if it is a dog the 25 is leaving you a bit short, inusrance and basic vacs cost that.

Good luck

sort_me_own_yard_out

Smamfer wrote: »

sort_me_own_yard_out wrote: »

Hi All,

Can you please take a look at my final SOA before I write it down ready for the CAB and RBL checking my court paperwork tomorrow.

My housing benefit is due to drop £30 per month on the 11th March and my landlord told me before Christmas that my rent is due to rise by £50 per month 1st Feb.

Many Thanks

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................ 923.65
Partners monthly income after tax....... 0
Benefits................................ 960.82
Other income............................ 304
Total monthly income.................... 2188.47

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 92
Electricity............................. 75( this seems high if you are out majority of day, can you maybe cut down on washing/lighting etc) The house I live in although has gas and electric but unfortuatly when the house for whatever reason was built 13 years ago the water is heated by the electric not the gas boiler. Believe you me this has been researched!!
Gas..................................... 55
Oil..................................... 0
Water rates............................. 40 (this seems a little high too are you using least amount as possible) Three people all taking a shower once a day often 2 each dependant on the days activities. i am careful regarding flushing the toilet have no leaky taps and cant see how i can cut down on the washing any more than I do. I should really think about getting my dishwasher fixed as that would use less water than washing in a sink.
Telephone (land line)................... 55
(as someone said before this is very very high i pay £25 a month with Post office for landline and broadband its unlimited, not a contract and actually owned by BT.) I am going to look into this. I am in a contract BT that i feel duped into in all honesty. I do live in a rural area and a little restricted with broadband providers.
Mobile phone............................ 45 (Sometimes by admitting poverty/struggling some companies will cut this down to keep you rather than have you just jack it in and owe them)This is for two phones I would like to go on pay as you go using giff gaff but when i went to look into getting my phones unlocked was told that because of the new orange/ee network they cant because of licencing issues. My son does need a phone his school is 15 mile from where we live so needs to be able to get in touch at all times really.
TV Licence.............................. 12
Satellite/Cable TV...................... 24( as sky only have you in a contract for 30 days could you not change to freeview for a while?) When I am on my broadband mission I shall look into a whole package I cant get sky as they piggy back onto another supplier and charge extra for the priviledge!!
Internet Services....................... 0
Groceries etc. ......................... 450 (i find this really really high you should be able to do this for about £300 absolute maximum)
Clothing................................ 90 ( is this every month????) I have sat and thought about this in great detail here is a little insight into how my mind is working! My sons school uniform alone cost me £250 in august that was before the school shoes (£60) trainers (£20), football boots (£20), rugby boots (£35), gum shield (£8), and shin pads (£5) that the school insisit they are armed with! I have bought cheap shoes before and they lasted a whole 3 weeks where as if I buy the startrite shoes I get a school year out of them. So with that in mind before I even start with his normal clothe and my daughters uniform and if i do get an IPA this will be still in place when fingers crossed she goes to this school. I buy a lot of my clothes from a charity shop, asda sainsburys etc the kids always have new but dressed head to foot in Primarni!!
Petrol/diesel........................... 220 (nrly 60 a week on petrol is this for work reasons could you car share maybe?) As I stated before I live in a rural location 15 mile from a supermarket, school, kids activities. I cant car share due to my hours as I use flexi time to my advantage to minimise my child care costs
Road tax................................ 14
Car Insurance........................... 43 (maybe shop around as depending on car this seems high)I shop around and I bartered to get this price!!
Car maintenance (including MOT)......... 30
Car parking............................. 15
Other travel............................ 0
Childcare/nursery....................... 90
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 25
Buildings insurance..................... 0
Contents insurance...................... 13
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 (you need something here for this)
Haircuts................................ 29 (every month????) I have recalculated and if i have it done every 6 weeks instead of each month I can do it for £20 a month
Entertainment........................... 0 ( you dont go out or do anything at all?) I dont have any spare money to entertain myself!!
Holiday................................. 40
Emergency fund.......................... 30
school dinners.......................... 20 (cab lady pointed it out that it is £20 a week not a month for my school dinners)
dry cleaning ........................... 15 (why do you need this?) work suits, winters coats etc
RAC cover............................... 12
Total monthly expenses.................. 2084


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1100
Other assets............................ 0
Total Assets............................ 1100

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
various........................43705.....0.........0
Total unsecured debts..........43705.....0.........-


Monthly Budget Summary
Total monthly income.................... 2,188.47
Expenses (including HP & secured debts). 2,084
Available for debt repayments........... 104.47
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 104.47

Personal Balance Sheet Summary
Total assets (things you own)........... 1,100
Total HP & Secured debt................. -0
Total Unsecured debt.................... -43,705
Net Assets.............................. -42,605

Im not overly qualified to do this but theres some things that really jump out where money is going on nothing which i have highlighted for you .

I

CAB did point out my landline mobile costs so while I am awaiting the outcome of the RBL paying the fees, I am going to seriously look into them as she pointed out my rent is going up to £550 next month and housing benefit dropping in March I will need to watch every penny and my big mistake of writing down my weekly spend instead of monthly for school meals makes my surplus even less.

Anondebtadvisor

I would also suggest that you add in sports/entertainment of upto £39 for the 3 of you

sort_me_own_yard_out

thank you. i have put childrens activities down would this not be duplicating it?

Anondebtadvisor

Sorry i missed that, in that case put in £17 for you alone.

I deal with Bankruptcy and i dont think there is anything excessive in your SOA and do increase the amount for school dinners if they are £20 per week

sort_me_own_yard_out

for my school meals my daughters are £2.50 a day sons £3 a day which is £27.50 a week x it by 39 term weeks/ 52 weeks + £20 per week!