Advice on SOA for Bankruptcy forms

77blondie

Just wanting some help and advice regarding my statement of affairs. About to submit forms and just wondering if I have got everything down and if it all looks ok. Appreciate any help

Statement of Affairs

My Income 1352
Husband contribution 1000
Child Benefit 147.00
Total Income = £2499.00

Outgoings
Rent 550.00
Food 600.00
Electricity/Oil 180.00
Telephone 65.00
Clothing 86.00
Other essential payments 977.00

Total outgoings 2458.00

Included in other essential payments:
Car Insurance 34.00
Car Tax 15.00
Petrol/Parking 120.00
Home Insurance 10.00
Life Insurance 19.00
TVLicence 12.00
Sky/Broadband 65.00
Hair (Me & 2 kids) 50.00
Leisure/hobbies 60.00
Childcare 450.00
Magazines/Newspapers 20.00
Health Ins 22.00
Birthdays/Xmas 100.00

List of creditors

Negative equity in mortgage £64106

Unsecured

Ulster Bank 8752.00
MBNA 3919
Barclaycard 4417
Next 539.00
DLC (Orange) 24.00
HMRC (Tax Credits Overpayment) 2648.00

Total outstanding £84405

egrescrimp

I assume this is based on a household of 4 people? if so, the food is probably going to get pushed down by the OR.

If it was me i'd take a little away from the food an allocate more to your clothing allowance, I'd go with £30 per person.

You are allowed a phone line, but you may struggle to justify Sky TV as an essential. Why is Sky TV classed as essential?

I'd change Christmas/Birthdays to be a Holiday fund.

Your energy costs are pretty high, so expect to be asked to present a recent bill.

I'd look at squeezing in some form of car maintenance fund to cover things like your MOT and repairs (£25 to £30 per month), do you not have break assistance? you could claim £10 of your income to cover that.

What about a Pay as you go mobile for you and your partner? that would be £20 per month on your SOA (kids old enough for one?).

egrescrimp

Also, do you have any pets? Council Tax? Water? Dentist? Prescriptions?

Emergency fund of £40 since there is 4 people.

michael1983l

Hi, egrescrimp.

I was lead to believe by stepchange that a budget for a BR is not a case of extracting the maximum amount of income into the BR but rather allowing a "reasonable" standard of living and using the rest.

I was led to believe that the basic package of Sky was considered a reasonable standard of living and accepted. Please correct me if that is wrong as I have based my SOA on this.

Thank you.

egrescrimp

michael1983l wrote: »

Hi, egrescrimp.

I was lead to believe by stepchange that a budget for a BR is not a case of extracting the maximum amount of income into the BR but rather allowing a "reasonable" standard of living and using the rest.

I was led to believe that the basic package of Sky was considered a reasonable standard of living and accepted. Please correct me if that is wrong as I have based my SOA on this.

Thank you.

Sky's basic package is £21.50 per month, so if you had their £7.50 broadband plus line rental at £15.40 thats £43.50 (or add another £10 if your not in Sky's network area for broadband). You might be able to get that through in your SOA but i'd find it unlikely as Sky is a luxury, you can have Freeview / Freesat for your viewing needs and that would be reasonable.

I didn't claim for Sky as I no longer have it, but i'd be surprised if it was accepted.

michael1983l

egrescrimp wrote: »

Sky's basic package is £21.50 per month, so if you had their £7.50 broadband plus line rental at £15.40 thats £43.50 (or add another £10 if your not in Sky's network area for broadband). You might be able to get that through in your SOA but i'd find it unlikely as Sky is a luxury, you can have Freeview / Freesat for your viewing needs and that would be reasonable.

I didn't claim for Sky as I no longer have it, but i'd be surprised if it was accepted.

I needed a phone and broadband package at home and was led to believe that the basic package of sky was considered acceptable so I bolted it on as well. However I am offsetting this by downgrading my phone contract of £32 a month to one around £15.

My Sky package costs £32 a month including phone, TV and Broadband.

I hope it is acceptable because I ordered it on the basis of I was allowed it so might as well have it.

77blondie

Thanks for your help. I know Sky isn't an essential. My husband wants it more than I do. Sadly everything is in my name. Yes the budget is for a family of 4 although the like of his mobile and car insurance etc is dealt with by himself. I can't see how I can reduce my fuel as electric is £70 per month and oil is £100 per month.

No pets, I feel the SOA is allowing a reasonable standard of living. Really hope its all ok. Will have another go over the figures. Just don't want to leave too much for an IPO

Mobile is £45 with no option to downgrade this - in contract for another 6 months. House phone is £20 and broadband is £7.50

woodformoretrees

Where you've listed husband's contribution (as opposed to income??), if that's less than 50% you will have to prove earnings, otherwise they will assume that he is contributing 50% to the household outgoings.

egrescrimp

If the fuel can't be reduced that's fine, you'll just be asked to provide proof thats what you use and it should be accepted

If your husband really doesn't want to lose Sky, then simply make up for it in another place - it doesn't matter who's name the product or service is in

Reduce your Phone and Broadband to £20 and then add an Emergency fund of £40 and thats Sky taken care of

If you don't want an IPA take into consideration some of the things I mentioned previously, but you will need to drop your food down. I have a family of 6 and the limit on that for food is around £570 per month, so if you need £600 then you are going to have to make it up through other expenses.

Like I mentioned before, you don't seem too of accounted for Water which would be £35 to £40 per month (maybe more so check your latest bill!).

You've missed out council tax which would be a £100+ per month depending upon your band.

Dentists and Opticians, you may not go every month but can budget for this. 2 Adults could add £30 to £40 per month

Prescriptions would be another £16 per month.

Is your household income actually £2499.00 or more per month? does your husband earn £1,000 per month or is that what he gives you and if so how much does he have left over?

77blondie

woodformoretrees wrote: »

Where you've listed husband's contribution (as opposed to income??), if that's less than 50% you will have to prove earnings, otherwise they will assume that he is contributing 50% to the household outgoings.

Husband contributes towards half of the household bills which is £1000

77blondie

egrescrimp wrote: »

If the fuel can't be reduced that's fine, you'll just be asked to provide proof thats what you use and it should be accepted

If your husband really doesn't want to lose Sky, then simply make up for it in another place - it doesn't matter who's name the product or service is in

Reduce your Phone and Broadband to £20 and then add an Emergency fund of £40 and thats Sky taken care of

If you don't want an IPA take into consideration some of the things I mentioned previously, but you will need to drop your food down. I have a family of 6 and the limit on that for food is around £570 per month, so if you need £600 then you are going to have to make it up through other expenses.

Like I mentioned before, you don't seem too of accounted for Water which would be £35 to £40 per month (maybe more so check your latest bill!).

You've missed out council tax which would be a £100+ per month depending upon your band.

Dentists and Opticians, you may not go every month but can budget for this. 2 Adults could add £30 to £40 per month

Prescriptions would be another £16 per month.

Is your household income actually £2499.00 or more per month? does your husband earn £1,000 per month or is that what he gives you and if so how much does he have left over?

I live in Northern Ireland so have no water or council tax to pay. I live in a rental which includes rates.

I have Simply Health insurance at 21.00 per month which covers dental and optical.

Prescriptions are free

Direct debit is taken each month of £100 for oil and the other £70/80 I can prove with electric bill.

He has money left over but its not mine