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Bankruptcy SOA advice please
nikki702
Posts: 1,098 Forumite
Hi Everyone
I am absolutely snowed under in debt and recently becoming very unwell and having major surgery has given me a swift kick up the bum to sort my life out. As it is I constantly struggle and need to borrow money every month due to paying my debts (which I got myself into)
I am going to apply for bankruptcy please could you look at my SOA and advise me?
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1650
Partners monthly income after tax....... 0
Benefits................................ 229.44
Other income............................ 0
Total monthly income.................... 1879.44
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 520
Management charge (leasehold property).. 0
Council tax............................. 89
Electricity............................. 50
Gas..................................... 65
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 10
Mobile phone............................ 40
TV Licence.............................. 12.83
Satellite/Cable TV...................... 30
Internet Services....................... 10
Groceries etc. ......................... 400
Clothing................................ 50
Petrol/diesel........................... 80
Road tax................................ 17.06
Car Insurance........................... 63.72
Car maintenance (including MOT)......... 20
Car parking............................. 15
Other travel............................ 0
Childcare/nursery....................... 60
Other child related expenses............ 23
Medical (prescriptions, dentist etc).... 60
Pet insurance/vet bills................. 56
Buildings insurance..................... 0
Contents insurance...................... 8.47
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 30
Entertainment........................... 35
Holiday................................. 25
Emergency fund.......................... 30
Meals at work........................... 50
Work Union.............................. 15.57
Total monthly expenses.................. 1915.65
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard CC.................1406.23...36.98.....0
Barclaycard CC.................3210.31...70........0
MBNA CC........................8592.15...86........0
Very...........................2816.17...138.......0
Tesco Bank.....................11925.....298.......0
Paypal Credit..................1540......35........0
Nationwide CC..................1291......35........0
Lloyds Overdraft...............1700......60........0
Lloyds CC......................1089.6....29.85.....0
Total unsecured debts..........33570.46..788.83....-
Monthly Budget Summary
Total monthly income.................... 1,879.44
Expenses (including HP & secured debts). 1,915.65
Available for debt repayments........... -36.21
Monthly UNsecured debt repayments....... 788.83
Amount short for making debt repayments. -825.04
Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -33,570.46
Net Assets.............................. -33,070.46
Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.
I am absolutely snowed under in debt and recently becoming very unwell and having major surgery has given me a swift kick up the bum to sort my life out. As it is I constantly struggle and need to borrow money every month due to paying my debts (which I got myself into)
I am going to apply for bankruptcy please could you look at my SOA and advise me?
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1650
Partners monthly income after tax....... 0
Benefits................................ 229.44
Other income............................ 0
Total monthly income.................... 1879.44
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 520
Management charge (leasehold property).. 0
Council tax............................. 89
Electricity............................. 50
Gas..................................... 65
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 10
Mobile phone............................ 40
TV Licence.............................. 12.83
Satellite/Cable TV...................... 30
Internet Services....................... 10
Groceries etc. ......................... 400
Clothing................................ 50
Petrol/diesel........................... 80
Road tax................................ 17.06
Car Insurance........................... 63.72
Car maintenance (including MOT)......... 20
Car parking............................. 15
Other travel............................ 0
Childcare/nursery....................... 60
Other child related expenses............ 23
Medical (prescriptions, dentist etc).... 60
Pet insurance/vet bills................. 56
Buildings insurance..................... 0
Contents insurance...................... 8.47
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 30
Entertainment........................... 35
Holiday................................. 25
Emergency fund.......................... 30
Meals at work........................... 50
Work Union.............................. 15.57
Total monthly expenses.................. 1915.65
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard CC.................1406.23...36.98.....0
Barclaycard CC.................3210.31...70........0
MBNA CC........................8592.15...86........0
Very...........................2816.17...138.......0
Tesco Bank.....................11925.....298.......0
Paypal Credit..................1540......35........0
Nationwide CC..................1291......35........0
Lloyds Overdraft...............1700......60........0
Lloyds CC......................1089.6....29.85.....0
Total unsecured debts..........33570.46..788.83....-
Monthly Budget Summary
Total monthly income.................... 1,879.44
Expenses (including HP & secured debts). 1,915.65
Available for debt repayments........... -36.21
Monthly UNsecured debt repayments....... 788.83
Amount short for making debt repayments. -825.04
Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -33,570.46
Net Assets.............................. -33,070.46
Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.
0
Comments
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Your expenses (excluding debts) are more than you income. How will you manage this when you won't have access to credit?0
-
I am going to contact virgin media and try to lower my package, also going to make packed lunches for work when I go back and try to get my daughter to have packed lunches too.0
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Looks like Everything alright...except.. Haircut. Is £60pm Medical expense reasonable for your medical condition ? They may ask you about this and child care cost...but don't worry as long as you can give reasonable answer...alright....
Another note...£520 pm rent for how many bedroom house? Electricity, Gas bill will depends on bedroom and member of the family...£50-£65 bills looks high..unless you actually pay that amount...0 -
Sorry... I read your location London....your rent can't be £520 unless you share house/flat in that case your utility bills can't be right0
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My flat is a council flat and yes my full rent for a 2 bed is £5200
-
Looks like Everything alright...except.. Haircut. Is £60pm Medical expense reasonable for your medical condition ? They may ask you about this and child care cost...but don't worry as long as you can give reasonable answer...alright....
Another note...£520 pm rent for how many bedroom house? Electricity, Gas bill will depends on bedroom and member of the family...£50-£65 bills looks high..unless you actually pay that amount...
The medical expenses is £10.40 for prepaid prescriptions and cost of contact lenses, plus any over the counter pain meds that my daughter needs monthly and dental costs.0 -
The medical expenses is £10.40 for prepaid prescriptions and cost of contact lenses, plus any over the counter pain meds that my daughter needs monthly and dental costs.
Based on my experience still £720 high.....I put £300 for myself (2adult+2child)...where I need regular prescription, glass, my son's glass...they still raise questions why I need medical expense for children...I had to explain them...some medicine for children not free...anyway, as I said...it's totally up to you if you can convince them...Good Luck0 -
What do you mean £720 high?0
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