We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
SOA Revised having spoken to Stepchange
whatdowedonext
Posts: 109 Forumite
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................ 3286
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 3286
Monthly Expense Details
Rent.................................... 650 (Incl arrears)
Council tax............................. 150
Electricity............................. 150 (Incl arrears)
Gas..................................... 150 (Incl arrears)
Water rates............................. 70
Telephone (land line)................... 25
Mobile phone............................ 15
TV Licence.............................. 13
Internet Services....................... 10
Groceries etc. ......................... 600
Clothing................................ 113
Petrol/diesel........................... 200
Road tax................................ 40
Car Insurance........................... 70
Car maintenance (including MOT)......... 60
Car parking............................. 20
Other travel............................ 20 Bus Fare to College
Other child related expenses............ 58.5 (Swimming)
Medical (prescriptions, dentist etc).... 29
Pet insurance/vet bills................. 30
Buildings insurance..................... 15
Contents insurance...................... 15
Life assurance ......................... 30
Presents (birthday, christmas etc)...... 56
Haircuts................................ 42
Entertainment........................... 40
Holiday................................. 80
Emergency fund.......................... 60
Loan repayment to family................ 150 Told to put in by Stepchange
Pocket Money............................ 36
Child Maintenance....................... 250
Dry Cleaning............................ 10
Total monthly expenses.................. 3257.5
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 3000
Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 50000....(0)........
Total secured & HP debts...... 50000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
American Express...............25000.....0.........0
Barclaycard....................20000.....0.........0
Capital One....................2500......0.........0
Loan from friend...............250.......0.........0
Loan from Family...............1500......0.........0
Loan from friend...............3800......0.........0
Rent Arrears...................975.......0.........0
Simply Be......................815.51....0.........0
Premier Man....................226.29....0.........0
Marisota.......................803.38....0.........0
La Redoute.....................281.71....0.........0
Kaleidoscope...................217.47....0.........0
Julipa.........................201.49....0.........0
Jacamo.........................427.77....0.........0
Fashionworld...................412.89....0.........0
EDF ...........................474.73....0.........0
Ambrose Wilson.................599.08....0.........0
RBS............................3500......0.........0
Payday Loan....................1100......0.........0
MBNA...........................9000......0.........0
Brilliant Gift Shop............119.86....0.........0
Egg............................28000.....0.........0
Total unsecured debts..........100205.18.0.........-
Monthly Budget Summary
Total monthly income.................... 3,286
Expenses (including HP & secured debts). 3,257.5
Available for debt repayments........... 28.5
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 28.5
Personal Balance Sheet Summary
Total assets (things you own)........... 3,000
Total HP & Secured debt................. -50,000
Total Unsecured debt.................... -100,205.18
Net Assets.............................. -147,205.18
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................ 3286
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 3286
Monthly Expense Details
Rent.................................... 650 (Incl arrears)
Council tax............................. 150
Electricity............................. 150 (Incl arrears)
Gas..................................... 150 (Incl arrears)
Water rates............................. 70
Telephone (land line)................... 25
Mobile phone............................ 15
TV Licence.............................. 13
Internet Services....................... 10
Groceries etc. ......................... 600
Clothing................................ 113
Petrol/diesel........................... 200
Road tax................................ 40
Car Insurance........................... 70
Car maintenance (including MOT)......... 60
Car parking............................. 20
Other travel............................ 20 Bus Fare to College
Other child related expenses............ 58.5 (Swimming)
Medical (prescriptions, dentist etc).... 29
Pet insurance/vet bills................. 30
Buildings insurance..................... 15
Contents insurance...................... 15
Life assurance ......................... 30
Presents (birthday, christmas etc)...... 56
Haircuts................................ 42
Entertainment........................... 40
Holiday................................. 80
Emergency fund.......................... 60
Loan repayment to family................ 150 Told to put in by Stepchange
Pocket Money............................ 36
Child Maintenance....................... 250
Dry Cleaning............................ 10
Total monthly expenses.................. 3257.5
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 3000
Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 50000....(0)........
Total secured & HP debts...... 50000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
American Express...............25000.....0.........0
Barclaycard....................20000.....0.........0
Capital One....................2500......0.........0
Loan from friend...............250.......0.........0
Loan from Family...............1500......0.........0
Loan from friend...............3800......0.........0
Rent Arrears...................975.......0.........0
Simply Be......................815.51....0.........0
Premier Man....................226.29....0.........0
Marisota.......................803.38....0.........0
La Redoute.....................281.71....0.........0
Kaleidoscope...................217.47....0.........0
Julipa.........................201.49....0.........0
Jacamo.........................427.77....0.........0
Fashionworld...................412.89....0.........0
EDF ...........................474.73....0.........0
Ambrose Wilson.................599.08....0.........0
RBS............................3500......0.........0
Payday Loan....................1100......0.........0
MBNA...........................9000......0.........0
Brilliant Gift Shop............119.86....0.........0
Egg............................28000.....0.........0
Total unsecured debts..........100205.18.0.........-
Monthly Budget Summary
Total monthly income.................... 3,286
Expenses (including HP & secured debts). 3,257.5
Available for debt repayments........... 28.5
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 28.5
Personal Balance Sheet Summary
Total assets (things you own)........... 3,000
Total HP & Secured debt................. -50,000
Total Unsecured debt.................... -100,205.18
Net Assets.............................. -147,205.18
0
Comments
-
Sorry forgot to say could you check this out, there was lots of stuff step change wouldnt allow and lots that they pointed out we hadnt included. Hopefully we are on the right track now:j0
-
This is the latest version with the Stepchange modifications made0
-
Do you get Child Benefit or any other benefits?0
-
i think you have to include debt to family member in br .
water rates £70! ouchJames tucker
Flight 705 My hero
0 -
Whose SOA is this? It looks like a joint one but an SOA needs to be for each person going BR not joint.
Arrears will be included in the BR so your utilities shouldn't include them. Some of your amounts seem high to me and some may not be allowed. Your loan repayment to family would also be included in the BR so that wouldn't be allowed as you would be favouring one creditor over another."Our prime purpose in this life is to help others. And if you can't help them, at least don't hurt them." Dalai Lama0 -
Whose SOA is this? It looks like a joint one but an SOA needs to be for each person going BR not joint.
Arrears will be included in the BR so your utilities shouldn't include them. Some of your amounts seem high to me and some may not be allowed. Your loan repayment to family would also be included in the BR so that wouldn't be allowed as you would be favouring one creditor over another.
This is for my husband's debts, in his name only. I do not work due to illness . He is going BR
wdwdn
Taken out utilities arrears now0 -
Sorry if I am being a bit dumb but why do you have a mortgage but no house as an asset?Thinking critically since 1996....0
-
ALL unsecured debts will be included in the BR you are not allowed to prefer any one creditor over another. I have lost touch with SOA`s, over 3 years since I went BR, but there are expenses in there that will not be allowed, where did you get that SOA template from? Have you spoken to any other debt charities?:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0 -
somethingcorporate wrote: »Sorry if I am being a bit dumb but why do you have a mortgage but no house as an asset?
We defaulted and it was repossed. We now rent:(0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards