SOA, or my 1st attempt at one.....lol

maxmycardagain

barclaycard visa £400
RBS visa £2100
barclaycard platinum visa £2000
virgin mastercard £10,000
yorkshire bank visa £9000
marbles £1500
coop visa £12000
hsbc mastercard £6200

hsbc loan £6000

vehicle HP £4400

total £53600


outgoings all pcm

rent £210
rates £80
gas £40
electric £40
virgin phone/tv/bband £60
mobile phone £20
household £300
contents insurance £9
vehicle insurance £70

Income
WFTC £359 (4 wkly)
chb £60 (4wkly)
wifes wages £450 (pcm) nett
Rent rebate £70 PW

my earnings.....
on the face of it (at the moment) about £200 a week, BUT in the current year ill have made nothing due to heavy losses in the first quarter

im undecided wether to carry on trading or sign on - when id get NIL benefits having been self-employed.

no job/no benefits would surely mean no IPA?

Richard_S

maxmycardagain wrote: »

barclaycard visa £400
RBS visa £2100
barclaycard platinum visa £2000
virgin mastercard £10,000
yorkshire bank visa £9000
marbles £1500
coop visa £12000
hsbc mastercard £6200

hsbc loan £6000

vehicle HP £4400

total £53600


outgoings all pcm

rent £210
rates £80
gas £40
electric £40
virgin phone/tv/bband £60
mobile phone £20
household £300
contents insurance £9
vehicle insurance £70

Income
WFTC £359 (4 wkly)
chb £60 (4wkly)
wifes wages £450 (pcm) nett
Rent rebate £70 PW

my earnings.....
on the face of it (at the moment) about £200 a week, BUT in the current year ill have made nothing due to heavy losses in the first quarter

im undecided wether to carry on trading or sign on - when id get NIL benefits having been self-employed.

no job/no benefits would surely mean no IPA?

Hi Max,

How many people is the SOA for?

You've got vehicle insurance but no Road Tax, MOT, Servicing or Petrol.

Gas & Electicity looks very low as well unless you live in a really energy efficient house or you're a relative of Scrooge.:D

There's nothing for Christmas, Holidays, Birthdays, Prescriptions, Vets, House Repairs & Renewals and that's without referring to my Budget prompt.

Would it be worth carrying on with your self employment until you're more clear on whether an IPA is likely.

Regards

Richard

maxmycardagain

How many people is the SOA for?

2 adults and 1 teenager

You've got vehicle insurance but no Road Tax, MOT, Servicing or Petrol.

rfl £190, mot £45 servicing £400/yr

fuel, ah well, the vehicle works, it is my living, £125 a week

Gas & Electicity looks very low as well unless you live in a really energy efficient house or you're a relative of Scrooge.:D

humbug (ddm £40 a month each)

There's nothing for Christmas, Holidays, Birthdays, Prescriptions, Vets, House Repairs & Renewals and that's without referring to my Budget prompt.

Christmas......£750?

Holidays........£1500?

Birthdays......£250?

Prescriptions....i get all mine free, and we are on wftc too (im diabetic)

Vets......shoot the damn cat........£90

House .....nil? we are tenants

Repairs & Renewals.....as for house?

cheers


i seem to be working just to pay the monthly debts, or rather going backwards with not enough coming in from work.

maxmycardagain

I cannot lumber my wife with my debts, id rather move out and take the BR option, the debts are down to me, not her.

the £4400 on the vehicle hp could be wiped if i jack in and sell it.

Richard_S

maxmycardagain wrote: »

I cannot lumber my wife with my debts, id rather move out and take the BR option, the debts are down to me, not her.

the £4400 on the vehicle hp could be wiped if i jack in and sell it.

No problem then Max,

Jack the job in, sell the vehicle, declare bankruptcy, no income other than benefits; definitely no IPA; you won't even need to move out.

Doesn't really matter what you put on the SOA as long as it's your best effort. The Judge won't study it and whatever errors there are the O.R will put right.

betterlatethannever

MMC
I think you may be overdoing it on the hols/christmas, but i'm not sure what the figures are for that.
From what i've read each OR is different and some don't allow much/anything for hols etc. but i'm sure someone will correct me if i'm wrong.
Try looking here for more ideas.
http://www.hmrc.gov.uk/manuals/dmbmanual/DMBM800120.htm

maxmycardagain

looking at the SOA online forms on the insolvency website, in the credit cards section, they ask "when did you obtain this", do they mean the card or the balance?

debt_doctor

They are asking when you obtained the card / entered in to the agreement.

PS the reason you cant have contributions based job seekers allowance is because being self employed you cannot make class 1 contributions, which is what the benefit is based on.

The reason you cannot have income based JSA is because you have a partner in full time work, does nt seem fair does it .

Best

DD

maxmycardagain

debt_doctor wrote: »

They are asking when you obtained the card / entered in to the agreement.

PS the reason you cant have contributions based job seekers allowance is because being self employed you cannot make class 1 contributions, which is what the benefit is based on.

The reason you cannot have income based JSA is because you have a partner in full time work, does nt seem fair does it .

Best

DD

in one way no, but if they want to give us more benefits thru other routes should i worry? im past caring and officialdom can do its worst, ill claim max wftc, and rent/rate rebates, wife works 17 hours a week.

ill sign on for NIC credits and walk the dog till im clear of the BR,
........... have to get one first :rotfl:

i know all about self/employment and the dole, been s/e for 15 years except when i was an employee of my own ltd comp on just £90 a week would you believe....

debt_doctor

You know, thats not a bad plan !

Often I see people who remain not working whilst undischarged, one to avoid the IPA but often more important just to have a rest from the massive stress they have been under for so long, recharge their batteries and be ready to move on.

Why not ?

Best

DD

debt_doctor

Incidentely, not specific to you Max, but for other self employed ( and employed) people where the stress of bankruptcy or other factors have made them ill / depressed, they CAN claim incapacity benefit as that is based on class 1 OR class 2 contributions, most partners earnings would not affect this.