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My soa help

24 replies 977 views
I have just done a soa ready for when I declare bankruptcy could any one please have a look thank you
All debt in my name
number of cars owned(car is in my wife’s name we got it 5 years ago value around 1400 half mine as well)
partners income is 50% of her wages  she has her own debts
other income £200 our sons lodge money

[font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

Household Information[/b]
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned.................... 1[b]

Monthly Income Details[/b]
Monthly income after tax................ 1120
Partners monthly income after tax....... 326
Benefits................................ 0
Other income............................ 200[b]
Total monthly income.................... 1646[/b][b]

Monthly Expense Details[/b]
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 400
Management charge (leasehold property).. 0
Council tax............................. 169
Electricity............................. 75
Gas..................................... 75
Oil..................................... 0
Water rates............................. 60
Telephone (land line)................... 48
Mobile phone............................ 15
TV Licence.............................. 17
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 520
Clothing................................ 30
Petrol/diesel........................... 40
Road tax................................ 12.68
Car Insurance........................... 52.4
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 25
Pet insurance/vet bills................. 15
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 20
Entertainment........................... 20
Holiday................................. 20
Emergency fund.......................... 20[b]
Total monthly expenses.................. 1669.08[/b]
[b]

Assets[/b]
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1400
Other assets............................ 0[b]
Total Assets............................ 1400[/b]
[b]
No Secured nor Hire Purchase Debts[/b]

[b]Unsecured Debts[/b]
Description....................Debt......Monthly...APR
Yorkshire bank ................10328.....0.........0
PayPal ........................2200......0.........0
Vanquis........................3400......0.........0
Cabbot(Halifax)................2900......0.........0
Robinson’s way (visa)..........1839......0.........0
Omni capital ..................1310......0.........0
Barclays (sofa)................900.......0.........0
Creation (pcworld).............1200......0.........0
Argos..........................1200......0.........0[b]
Total unsecured debts..........25277.....0.........-  [/b]

[b]
Monthly Budget Summary[/b]
Total monthly income.................... 1,646
Expenses (including HP & secured debts). 1,669.08
Available for debt repayments........... -23.08
Monthly UNsecured debt repayments....... 0[b]
Amount short for making debt repayments. -23.08[/b]

[b]Personal Balance Sheet Summary[/b]
Total assets (things you own)........... 1,400
Total HP & Secured debt................. -0
Total Unsecured debt.................... -25,277[b]
Net Assets.............................. -23,877[/b]

[i]Created using the SOA calculator at www.stoozing.com. 
Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]
«13

Replies

  • RASRAS Forumite
    28.6K posts
    Part of the Furniture 10,000 Posts
    ✭✭✭✭✭
    Who are the registered owners and keepers of the car now? Depending on those facts it may or may not go on your SOA. 
    The person who has not made a mistake, has made nothing
  • hopper01609hopper01609 Forumite
    42 posts
    10 Posts Name Dropper
    Hi the cars been in the wife’s name since we got it just over 5 years ago I paid half of it from the sale of my motorbike
  • RASRAS Forumite
    28.6K posts
    Part of the Furniture 10,000 Posts
    ✭✭✭✭✭
    If it's in your wife's name, it is not your asset. Even if you paid half, five years is a long time.

    Are you putting the full cost of your household expenditure in your SOA or allocating part to other adults?  
    The person who has not made a mistake, has made nothing
  • hopper01609hopper01609 Forumite
    42 posts
    10 Posts Name Dropper
    That’s all my wages,50% of the wife’s and the 200 of my sons lodge money
    so on the soa I need to remove all the road tax and insurance is that right? Thank you
  • edited 22 June at 3:48PM
    RASRAS Forumite
    28.6K posts
    Part of the Furniture 10,000 Posts
    ✭✭✭✭✭
    edited 22 June at 3:48PM
    Hi, That's not the question asked.

    Have you put all the housing, council tax and utility costs for the entire household in your SOA?

    And who is the registered keeper of the car?


    Do you not get any Child Benefit?
    The person who has not made a mistake, has made nothing
  • hopper01609hopper01609 Forumite
    42 posts
    10 Posts Name Dropper
    Hi sorry yes that’s every thing all in,including half of wife’s wages
  • hopper01609hopper01609 Forumite
    42 posts
    10 Posts Name Dropper
    Sorry Yes the wife gets it paid to her
  • hopper01609hopper01609 Forumite
    42 posts
    10 Posts Name Dropper
    Sorry Yes the wife gets it paid to her child tax
    Child tax
  • PlacitasgirlPlacitasgirl Forumite
    340 posts
    Fourth Anniversary 100 Posts
    ✭✭
    How old is your child and what is their situation? You mention that they are paying £200 "lodge money".... are they working? 
    Is your wife receiving child benefit for them or child tax credits or both? 
  • hopper01609hopper01609 Forumite
    42 posts
    10 Posts Name Dropper
    I have just done a soa ready for when I declare bankruptcy could any one please have a look thank you
    All debt in my name
    number of cars owned(car is in my wife’s name we got it 5 years ago value around 1400 half mine as well)
    partners income is 50% of her wages  she has her own debts
    other income £200 our sons lodge money

    [font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

    Household Information[/b]
    Number of adults in household........... 3
    Number of children in household......... 1
    Number of cars owned.................... 1[b]

    Monthly Income Details[/b]
    Monthly income after tax................ 1120
    Partners monthly income after tax....... 326  -50% wife wage
    Benefits................................ 0
    Other income............................ 200[b] - sons lodge money
    Total monthly income.................... 1646[/b][b]

    Monthly Expense Details[/b]
    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 400
    Management charge (leasehold property).. 0
    Council tax............................. 169
    Electricity............................. 75
    Gas..................................... 75
    Oil..................................... 0
    Water rates............................. 60
    Telephone (land line)................... 48
    Mobile phone............................ 15
    TV Licence.............................. 17
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 550
    Clothing................................ 30
    Petrol/diesel........................... 40
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 15
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 25
    Pet insurance/vet bills................. 25 - 3 dogs
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 20
    Haircuts................................ 20
    Entertainment........................... 40
    Holiday................................. 30
    Emergency fund.......................... 20[b]
    Total monthly expenses.................. 1669.08[/b]
    [b]

    Assets[/b]
    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 1400
    Other assets............................ 0[b]
    Total Assets............................ 1400[/b]
    [b]
    No Secured nor Hire Purchase Debts[/b]

    [b]Unsecured Debts[/b]
    Description....................Debt......Monthly...APR
    Yorkshire bank ................10328.....0.........0
    PayPal ........................2200......0.........0
    Vanquis........................3400......0.........0
    Cabbot(Halifax)................2900......0.........0
    Robinson’s way (visa)..........1839......0.........0
    Omni capital ..................1310......0.........0
    Barclays (sofa)................900.......0.........0
    Creation (pcworld).............1200......0.........0
    Argos..........................1200......0.........0[b]
    Total unsecured debts..........25277.....0.........-  [/b]

    [b]
    Monthly Budget Summary[/b]
    Total monthly income.................... 1,646
    Expenses (including HP & secured debts). 1,669.08
    Available for debt repayments........... -23.08
    Monthly UNsecured debt repayments....... 0[b]
    Amount short for making debt repayments. -23.08[/b]

    [b]Personal Balance Sheet Summary[/b]
    Total assets (things you own)........... 1,400
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -25,277[b]
    Net Assets.............................. -23,877[/b]

    [i]Created using the SOA calculator at www.stoozing.com. 
    Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]
    Made a few adjustment,I need to use car fordentist appointments as I have to travel
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