Soa - Bankruptcy.

Toon_Dave

Evening all,

could you have a look at my revised SOA. This will be my expenses once i move into rented after after the BR, so all secured/unsecured debts are wiped from the BR.

I know i will have to pay an IPA, just wasnt sure if i could add any extras so that my surplus for living is a bit more user friendly.

<===== Copy and paste everything below this line into your MSE post =====>


Statement of Affairs and Personal Balance Sheet

Monthly Budget Summary
Total monthly income.................... 1500
Expenses (including secure debts)....... 1096
Available for debt repayments........... 404
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ 404

Personal Balance Sheet Summary
Total assets (things you own)........... 0
(Assets less secured debt).............. 0
Total liabilities(what you owe)......... 0
Personal net worth...................... 0

Monthly Income Details
Monthly income after tax................ 1500
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1500

Monthly Expense Details
Mortgage................................ 0
Secure loan repayments.................. 0
Rent.................................... 500
Management charge (leasehold flat)...... 0
Council tax............................. 85
Electricity............................. 100
Gas..................................... 40
Oil..................................... 0
Water rates............................. 35
Telephone (land line)................... 25
Mobile phone............................ 0
TV Licence.............................. 14
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 150
Clothing................................ 25
Haircuts................................ 10
Entertainment........................... 20
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 10
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Holiday................................. 20
Emergency fund.......................... 25
Total monthly expenses.................. 1096

Secure Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........N/A
Total secured debts........... 0.........N/A.......N/A

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........N/A

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

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.Thanks in advance.

Dave.:T

skylight

You have put down nothing for travel? Even if you don't have a car, you must use buses/trains. A bus pass around here is £55pm.

Are you sure the council tax is right on the new place? Mobile - you could have a PAYG at £10 a month.

I do have plenty of children. I could loan you one (or 4) if that would help bump up the outgoings....!!!! (that was a strict joke, about bumping up the SOA, not necessarily about loaning the kids out though........................) :rotfl:


Erm. Do you pay union fees? Or the member of any other professional body? Subscription fees??

So_Sad_Angel

HI,

100 for electric seems on high side + no mobile or internet??? also do you have to pay towards your personal car-use (usually petrol/diesel) or is this already included in your tax code as benefit in kind??

Ax

Toon_Dave

skylight wrote: »

You have put down nothing for travel? Even if you don't have a car, you must use buses/trains. A bus pass around here is £55pm.

Are you sure the council tax is right on the new place? Mobile - you could have a PAYG at £10 a month.

I do have plenty of children. I could loan you one (or 4) if that would help bump up the outgoings....!!!! (that was a strict joke, about bumping up the SOA, not necessarily about loaning the kids out though........................) :rotfl:


Erm. Do you pay union fees? Or the member of any other professional body? Subscription fees??

HI Skylight,

Thanks for the reply. I have company car and mobile so all deductions before get take home pay. Also i have checked the Council tax banding for the new area and its Band B, which is higher than moment but i'll get 25% single persons discount..

ps...i'll pass on the kids...thanks for the offer though!!

Do you think the other outgoings look acceptable...wasnt sure about Gas as only have electric in current place.

Dave.

Toon_Dave

So_Sad_Angel wrote: »

HI,

100 for electric seems on high side + no mobile or internet??? also do you have to pay towards your personal car-use (usually petrol/diesel) or is this already included in your tax code as benefit in kind??

Ax

hi Ange,

Yeah the car tax is taken before get my take home pay, i pay out £400 pm on tax and £190 ish already on NI...

i wasnt sure re the Electric, i have stupid pre-pay at the moment and that has been taking about the 20-25 PW so went off those costs..

Company pay my mobile and broadband as essential for work laptop etc.

Any others??

Dave. X

empty_wallet_2

Anything for dentist/opticians?

I reckon you could up your food bill a bit, to £45 per week

Yes your electric does seem high even if your heating is by electric storage heaters, you may need to provide electric bills to prove that amount.

skylight

I think that the £100 for electric is also on the high side if you will have gas central heating. I pay £70 a month for both (unless your figure includes an electric debt?) With gas central heating, you wont pay anywhere near that amount for your electric.... unless you have some heat lamps in the conservatory for plants?? (Sorry - naughty comment)


You could always add £5/£10 here and there, perhaps £25 for the food. At the end of the day, let the OR reduce the amounts if need be. Because if you don't ask, you wont get.

So_Sad_Angel

Do you wear glasses?? bear with me it is relevant...Is £7 enough for dentist, prescrips & opticians?? If you don`t wear glasses could your eyes get a little worse to give you a little more allowance?? Just a thought?

betterlatethannever

Just at a glance but...

Monthly Expense Details
Mortgage................................ 0
Secure loan repayments.................. 0
Rent.................................... 500
Management charge (leasehold flat)...... 0
Council tax............................. 85
Electricity............................. 100 thats high!
Gas..................................... 40 you said you don't have gas, is that right?
Oil..................................... 0
Water rates............................. 35
Telephone (land line)................... 25
Mobile phone............................ 0 you really don't have a mobile?
TV Licence.............................. 14
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 150 i'd up this to £160/170
Clothing................................ 25 up to £30 and let them beat you down if they want to.
Haircuts................................ 10
Entertainment........................... 20 this won't be allowed.
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7 thats low, maybe double it or more
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 10
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 may not be allowed, but leave it and see
Holiday................................. 20 i'd up this, maybe £30 +
Emergency fund.......................... 25
Total monthly expenses.................. 1096


do you have any dry cleaning bills?

Toon_Dave

Angel, i wear glasses so i suppose should include regular checks etc, i'll update this. Also dental checks. i'd better add some for this.

Anyone any ideas as to exact amount allowable for this?

empty_wallet_2

Toon_Dave wrote: »

hi Ange,

Yeah the car tax is taken before get my take home pay, i pay out £400 pm on tax and £190 ish already on NI...

i wasnt sure re the Electric, i have stupid pre-pay at the moment and that has been taking about the 20-25 PW so went off those costs..

Company pay my mobile and broadband as essential for work laptop etc.

Any others??

Dave. X

Dave the OR doesnt need to know your work pays for a mobile you sure you dont have a pay as you go or contract phone that costs £25 a month;) .

Is your heating by electric? the last place we rented had a pre pay meter a we used about £1 a day.

My OH's IP suggested that we could claim £35 a month for food at work, not sure if anyone has tried that with the OR