SOA pending bankruptcy

fermi

As long as a CCJ is not secured, not for a sort of debt that can't be included in bankruptcy, and is not a debt in joint names, then it most likely would be covered by the bankruptcy meaning that you would no longer have to make those payments, and the CCJ would not be enforceable against you.

bigegg7583

So...
the main thing I'm after is to reduce any IPA I may have:
Which of my outgoings can I comfortably increase without it being looked upon unfavourably by the OR? Which of my outgoings are already too high?

Man_chester

Im in the same boat mate. My head is battered. I have put a true figure on everything, not to leave me short. I am worried they will see it and say, on your bike mate, that too high. I would like someone to say that acceptable, maybe someone who has gone through it. I know it individual basis, but surely there is a from and up to guide of some sorts

tigerfeet2006

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2

Monthly Income Details
Monthly income after tax................ 1220
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 180
Total monthly income.................... 1400

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 120 as this is a CCJ you don't have to pay this anymore.
Rent.................................... 325
Management charge (leasehold property).. 0
Council tax............................. 126
Electricity............................. 80
Gas..................................... 20
Oil..................................... 0
Water rates............................. 45
Telephone (land line)................... 20
Mobile phone............................ 7.5
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 35
Groceries etc. ......................... 240
Clothing................................ 60 £30
Petrol/diesel........................... 120
Road tax................................ 40
Car Insurance........................... 90
Car maintenance (including MOT)......... 40
Car parking............................. 0 £10/20
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 10 £25 as you will need to find money towards excess and there are some things insurance doesn't cover.
Buildings insurance..................... 0
Contents insurance...................... 0 you need to get yourself this with accidental damage.
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40 most OR's won't allow this but you could leave and see.
Haircuts................................ 5 £10
Entertainment........................... 20most OR's won't allow this but you could leave and see
Holiday................................. 50 £25
Emergency fund.......................... 20
Total monthly expenses.................. 1545.62


Assets
Cash.................................... 300 what is this?
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 1100


Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 0........(0)........0<
CCJ............................17000....(120)..... .0
Total secured & HP debts...... 17000.....-.........-

Unsecured Debts
Description....................Debt......Monthly.. .APR
Overdrafts.....................3200......0........ .0
Provident......................2920......0........ .0
Electric.......................623.......0........ .0
Shop Rent......................1700......0.........0
Asset Link.....................5000......0.........0
Electric.......................1000......0........ .0
Total unsecured debts..........14443.....0.........-


Monthly Budget Summary
Total monthly income.................... 1,400
Expenses (including HP & secured debts). 1,545.62
Available for debt repayments........... -145.62
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -145.62

Personal Balance Sheet Summary
Total assets (things you own)........... 1,100
Total HP & Secured debt................. -17,000
Total Unsecured debt.................... -14,443
Net Assets.............................. -30,343

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.
”Not sure if I've done that right? CCJs are secured debts?

Anyway - at the moment I live in a 3 bed house with my adult son. It is a joint tenancy with each of us liable for 1/2 the rent.

We are both working.

He pays me £180 per month which covers bills+cleaning products (but not food).

I own a car, and a van - each worth about £400 - and the vehicle figures are the total I spend on both. You will only be allowed one of these unless there is a compelling reason for both so those allowances will need to change. Do you need the van or the car? Could you sell both and buy a vehicle of higher value, up to £1k

Do these figures look reasonable? Is there anything I can increase?
Since I'm working, I'm expecting to have an amount to pay for the next three years, which I'd like to avoid.

Are you a member of a union or professional group? Do you pay subs etc?

My comments in red.