my SOA figures

Euphoria1z

Hi


Heres my SOA income and expenditure figures from my 6.28 form, please tell me if you guys think its ok or whether it should be amended. Its for my bankruptcy. Is it ok as it is or should some things be increased decreased? is it better for there to be a surplus or it be negative or be 0 at the end? (naturally I don't want an IPA).


im going bankrupt only, my wife doesn't work as she looks after kids, we have 4 young children (youngest being a 1 yr old). we live in a 5 bedroom rented house. im unemployed as of 3 weeks ago and am looking for work.


my current income is


JSA £288, housing allowance £549, child tax £879, child benefit £240 total monthly income is £1956.


my bankruptcy amount is £124,000.


Thanks




Rent = £750
housekeeping inc food, cleaning = £550 (family of 6)
gas/electricity = £160 (£100 gas, 60 elec)
water = £37
telephone = £50 (broadband and landline plus mobile)
travelling £100 (looking for work, school, shopping etc)
clothing =£120
maintenance /fines =£0
council tax £90 (this is after discount)
other essential payments =£ 142 ( road tax 18, serv/mot 20, car insurance 69 , life assurance £25, after school activities £10)


so total expenditure at the moment is £1999


so income £1956 - expenditure £1999 = negative £43. should I make this £0 ??
this will change once I get a job (and my housing allowance is udue to be updated due to no job) but this how my SOA looks for next week when I go to court.


Thoughts?

egrescrimp

Personally, I'd lower the Phone and broadband and increase the clothing allowance to at least £150, thats £25 per person as thats more chance of being accepted unless you need broadband for employment purposes. But as your on benefits currently, they probably won't take much notice of the SOA as they can't do an IPA with that.

Travelling is also pretty high, do you live in a remote location?

You do really need to get your SOA to meet your income though and not exceed it.

Euphoria1z

the broadband and line is what im paing virgin at the moment. its unltd calls to land line and mobiles plus unltd broadband (for the kids).


petrol is expensive, my cars over 10 yrs old and takes quite a bit, I can reduce that to maybe £20 per week. ill increase the clothing to £150.


my concern is that if I were to get a job, my income over expenditure will be give me a surplus and I wont be able to increase my expenditure as the OR will say that ive already done it (the one above and other than an increase in petrol for travelling, everything else will pretty much stay the same,, no? )


or can I say that with an increased income I can increase my grocery bill, clothing bill, etc?

egrescrimp

The groceries won't really be in a position togo up should you get a job as the figure you quoted is pretty much what they would accept for a family of 6 (I have a family of the same size).

Your travel costs would likely increase if you got a job, like most things would if you were employed and have to travel further than you do now. You'd probably need todo a new SOA if you became employed. Like for example when you become employed you'd probably have to start paying for school dinners, so that would be a new expense and your council tax would increase.

The only guaranteed way to not get an IPA is to stay on benefits, I've personally got an IPA but the figure is minuscule in comparison to what I was paying out.

TheGardener

Hi - If your income is made up entirely of benefits - you will not get an IPA, the OR is not permitted to take benefit money. Given the size of your family, even if you were earning that much as opposed to benefits, it is unlikely you would get an IPA anyway.
Your budget needs to balance. One of the points of BR is to 'rehabilitate' you financially, if you are in the red every month, that can't happen. Life on benefits is incredibly difficult at the best of times.

Hollygoheavily

The OR told me they cant ask for a contribution if your only income is benefits