SOA for DRO

Hi, 

I am just after some pointers on my SOA to check if anything stands out as glaringly incorrect! I live with my partner, her 2 children plus my 2 children live with us 50% of the time so the figures i have posted are hard to set in stone. My partner is on UC and contributes £500 to cover bills (rent, CT, food etc) which im sure will be considered a fair an reasonable amount. The debt figures (balance or monthly amounts) arent entirely accurate but close enough and will be updated when required to submit 

My salary varies week to week so ive put an approximate figure, obviously i will make this accurate when submitting the documents, therefore if there are any figures which are too LOW then let me know and then i can tweak things if necessary


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

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 4
Number of cars owned.................... 1[b]

Monthly Income Details[/b]
Monthly income after tax................ 2000
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 500[b]
Total monthly income.................... 2500[/b][b]

Monthly Expense Details[/b]
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 600
Management charge (leasehold property).. 0
Council tax............................. 180
Electricity............................. 140
Gas..................................... 140
Oil..................................... 0
Water rates............................. 32
Telephone (land line)................... 40
Mobile phone............................ 55
TV Licence.............................. 14
Satellite/Cable TV...................... 0
Internet Services....................... 25
Groceries etc. ......................... 600
Clothing................................ 100
Petrol/diesel........................... 100
Road tax................................ 25
Car Insurance........................... 60
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 12
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 15
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 15
Entertainment........................... 75
Holiday................................. 50
Emergency fund.......................... 100[b]
Total monthly expenses.................. 2458[/b]
[b]

Assets[/b]
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 250
Car(s).................................. 1900
Other assets............................ 0[b]
Total Assets............................ 2150[/b]
[b]
No Secured nor Hire Purchase Debts[/b]

[b]Unsecured Debts[/b]
Description....................Debt......Monthly...APR
Barclaycard CC.................4200......150.......0
Santander CC...................1800......100.......0
First Direct CC................1900......70........0
Council........................3000......140.......0
Other..........................3000......0.........0
Loan...........................3500......145.......0
SA Tax.........................5000......150.......0
VAT............................1050......100.......0[b]
Total unsecured debts..........23450.....855.......-  [/b]

[b]
Monthly Budget Summary[/b]
Total monthly income.................... 2,500
Expenses (including HP & secured debts). 2,458
Available for debt repayments........... 42
Monthly UNsecured debt repayments....... 855[b]
Amount short for making debt repayments. -813[/b]

[b]Personal Balance Sheet Summary[/b]
Total assets (things you own)........... 2,150
Total HP & Secured debt................. -0
Total Unsecured debt.................... -23,450[b]
Net Assets.............................. -21,300[/b]

Comments

  • fatbelly
    fatbelly Forumite Posts: 19,229
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
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    It's near enough for your intermediary to work on.

    The following wouldn't usually be allowable expenses

    Emergency fund.......................... 100

    Just add it to your groceries as 600 for 2 adults 4 children is bottom end, and let us know how you get on

  • Thank you! I get paid weekly and it changes each week.....would an average of say 8 weeks be acceptable?

    What would happen If there is a figure which is too high or not allowed and reducing it would then create a surplus of over 75? Would they help tweak another figure accordingly or would they just advise another route?
  • fatbelly
    fatbelly Forumite Posts: 19,229
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    Anything's possible. You won't know until you start to engage with an intermediary

    Who are you using?

    For income the guidance says  You can use 3 months of income earned to determine an average.
  • I will probably use Stepchange, i believe theyre as good as any!

    Thanks again for your help!
  • fatbelly
    fatbelly Forumite Posts: 19,229
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    Most DROs are done by CA or stepchange.

    Although there are a dozen organisations allowed to do them, numbers done by the others are tiny.

    https://www.gov.uk/government/publications/getting-a-debt-relief-order/getting-a-debt-relief-order#find-a-debt-adviser
  • ToxtethO'Grady
    ToxtethO'Grady Forumite Posts: 336
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    edited 1 December 2022 at 12:07AM
    Who recveives the child benefit for the 2 children who stay with you 50% of the time? Your household will be 2 adults and 2 children if you are not the primary carer for your children and do not receive the child benefit.
    You can still have higher than SFS guidelines due to the fact you have your children 50% of the time but for the purposes of an application for a DRO it is who receive the child benefit who is classed as the primary carer and shows the children in their household.
  • theoretica
    theoretica Forumite Posts: 12,067
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    Are you in England? You could add enough here to cover an occasional prescription or dental /optician checkup.  No glasses in the family?
    Medical (prescriptions, dentist etc).... 0
    But a banker, engaged at enormous expense,
    Had the whole of their cash in his care.
    Lewis Carroll
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