SOA for couple planning on moving in together.

Jaypsarticus

Hi everyone.

I have a couple of threads running covering different things so i have tried to combine them here.
as previously stated, i an currently bankrupt for 4 more weeks, living alone and paying an IPA of £75 a month.

My partner wants us to live together in her owned home and i give up my rented property which is what we both want.

my partner receives £800 wage and £700 beneifts at the moment for herself and 2 children.

When i move in she will lose the benefits.

combined with my £2100 PCM we will have an income of £2900.

we have put both our incomes on SOA below and done the entire household expenditures :

Partners monthly income after tax....... 800
My income after tax .....................2100
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2900

Monthly Expense Details
Mortgage................................ 320
Secured/HP loan repayments.............. 520
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 126
Electricity............................. 55
Gas..................................... 92.5
Oil..................................... 0
Water rates............................. 16.17
Telephone (land line)................... 9.99
Mobile phone............................ 51 3 mobiles
TV Licence.............................. 12.12
Satellite/Cable TV...................... 41.33
Internet Services....................... 18.11
Groceries etc. ......................... 600
Clothing................................ 60
Petrol/diesel........................... 400 2 x cars
Road tax................................ 27
Car Insurance........................... 73
Car maintenance (including MOT)......... 80
Car parking............................. 15
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 15
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 12.23
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 25
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 40
Total monthly expenses.................. 2694.45


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0


Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 60000....(320)......0 partners mortgage
Hire Purchase (HP) debt ...... 9000.....(280)......0<
(Unnamed debt).................6000.....(240)......0 Partners car
Total secured & HP debts...... 75000.....-.........-

Unsecured Debts
Description....................Debt......Monthly.. .APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 2,900
Expenses (including HP & secured debts). 2,694.45
Available for debt repayments........... 205.55
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 205.55

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -75,000
Total Unsecured debt.................... -0
Net Assets.............................. -75,000


is this how i would present it ? does this look normal?

Am i right in thinking that if our combined outgoings are £2694 and i pay 75% towards those at a cost of £2020 then my surplus is actually £80? im so confused ha! i dont want to submit this if its wrong and i get a £500 IPA?

Sorry to ask over again but we are constantly refreshing the page in anticipation of a reply as were pretty stumped at the moment.

best regards

Clouds88

I am no expert but, will they look at it like, you earn approx 3 times her amount? So before her debts are taking into consideration your outgoings are approx £2100, so £1500 from you and £500 from your partner. That gives her £300 to pay towards her debts and £600 disposable income for you? Also don!!!8217;t forget they!!!8217;ll know she gets £137 per month from child benefit.

Just trying to give you a way of looking at it from the OR as my partner only earnt £600 (prior to losing his job) and they added mine and his income combined and worked out everything. Have 2 adults 2 kids, our rent is higher than your mortgage, and we live off of £2100 per month combined income and no IPA.

Others who are more experienced In the area might have some more advice