Statement of Affairs - All advice welcome....my heads in a spin!

MMachine

So today is my second day on this forum and trying to sort out my debts, can i say thanks to everyone who replied to my post yesterday.
Well i have filled in my statement of Affiars as best i could, I dont tend to keep bills and all my gas,electric etc has been paid off on my card as soon as they come in so im not actually sure how much i pay per month. I share a house with my housemate so all the bills are split so mine includes what i pay per month.
I have made an appoinment with the CCCC but they cant see me till the end of the month as im not sure about getting time off as i start a new job next week.
Im also probably moving into my girlfriends at the end of next month when my contract is up which will be in another county to where i am know which is where my new job is.
This would mean an increase in the rent i pay as her mortgage is higher. I would probably be paying a extra 75 at least.
Any help is much appriciated, as this is only my second day of really trying to deal with my debts my head is all over the place. I havent put the annual APR on my cards as im not sure where to get that info from.
Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1050
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1050

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 275
Management charge (leasehold property).. 0
Council tax............................. 62.5
Electricity............................. 15
Gas..................................... 15
Oil..................................... 0
Water rates............................. 15
Telephone (land line)................... 10
Mobile phone............................ 20
TV Licence.............................. 12
Satellite/Cable TV...................... 18
Internet Services....................... 10
Groceries etc. ......................... 220
Clothing................................ 20
Petrol/diesel........................... 30
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 60
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 5
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 10
Entertainment........................... 20
Holiday................................. 10
Emergency fund.......................... 20
Total monthly expenses.................. 872.5

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

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Loan...........................11286.8...256.5.....0
Capital one....................961.65....28.97.....0
Virgin Credit Card.............2015.95...45.58.....0
Overdraft......................320.......0.........0
egg Card.......................700.......20........0
Barclaycard....................1487.5....34........0
Total unsecured debts..........16771.9...385.05....-

Monthly Budget Summary
Total monthly income.................... 1,050
Expenses (including secured debts)....... 872.5
Available for debt repayments........... 177.5
Monthly UNsecured debt repayments....... 385.05
Surplus(deficit if negative)............ -207.55

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -16,771.9
Net Assets.............................. -16,771.9

Like i said if anyone can put out where i am going wrong
or the best route to go done as im getting a bit confused
with all this info going round in my head.
Thanks

tigerfeet2006

MMachine wrote: »

So today is my second day on this forum and trying to sort out my debts, can i say thanks to everyone who replied to my post yesterday.
Well i have filled in my statement of Affiars as best i could, I dont tend to keep bills and all my gas,electric etc has been paid off on my card as soon as they come in so im not actually sure how much i pay per month. I share a house with my housemate so all the bills are split so mine includes what i pay per month.
I have made an appoinment with the CCCC but they cant see me till the end of the month as im not sure about getting time off as i start a new job next week.
Im also probably moving into my girlfriends at the end of next month when my contract is up which will be in another county to where i am know which is where my new job is. You will need to go BR in the place where you have spent at least 6 months
This would mean an increase in the rent i pay as her mortgage is higher. I would probably be paying a extra 75 at least. If you are living here when you go BR. Make sure you are 'renting a room' from your GF as the OR could look at beneficial intrest in her property. You can pick up a rent book from a stationers.
Any help is much appriciated, as this is only my second day of really trying to deal with my debts my head is all over the place. I havent put the annual APR on my cards as im not sure where to get that info from.The OR can sort all this. You don't need your debts on your SOA just your essential bills.
Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1050
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1050

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 275
Management charge (leasehold property).. 0
Council tax............................. 62.5
Electricity............................. 15 This is quite low even if it is divided are you sure it is this?
Gas..................................... 15 Ditto
Oil..................................... 0
Water rates............................. 15
Telephone (land line)................... 10
Mobile phone............................ 20
TV Licence.............................. 12
Satellite/Cable TV...................... 18 You can't put this down. It will have to come out of your surplus.
Internet Services....................... 10 Ditto.
Groceries etc. ......................... 220 Leave as is but the OR may reduce.
Clothing................................ 20 You can up this
Petrol/diesel........................... 30
Road tax................................ 0 Don't you pay this, you? pay petrol.
Car Insurance........................... 0 Ditto
Car maintenance (including MOT)......... 0 Ditto
Car parking............................. 0
Other travel............................ 60 What's this if you have a car?
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10 maybe up this to £15
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 5 Are you sure contents is only £10 a month?
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15 Some OR will disallow.
Haircuts................................ 10
Entertainment........................... 20 will have to come out of surplus
Holiday................................. 10 up to at least £20
Emergency fund.......................... 20 leave but some OR will disallow.
Total monthly expenses.................. 872.5

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

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Loan...........................11286.8...256.5.....0
Capital one....................961.65....28.97.....0
Virgin Credit Card.............2015.95...45.58.....0
Overdraft......................320.......0.........0
egg Card.......................700.......20........0
Barclaycard....................1487.5....34........0
Total unsecured debts..........16771.9...385.05....-

Monthly Budget Summary
Total monthly income.................... 1,050
Expenses (including secured debts)....... 872.5
Available for debt repayments........... 177.5
Monthly UNsecured debt repayments....... 385.05
Surplus(deficit if negative)............ -207.55

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -16,771.9
Net Assets.............................. -16,771.9

Like i said if anyone can put out where i am going wrong
or the best route to go done as im getting a bit confused
with all this info going round in my head.
Thanks

That's my initial thoughts for you. Hope it helps.

MMachine

Thanks for the reply, Its giving me alot of pointers so i will re-do this using your suggestions.
The reason im paying petrol is im insured on my house-mates and partners cars so i will put petrol in if im traveling anywhere.
I have looked through most the options and was wondering what anyone would suggest would be the best under my circumstances?
Im getting more info sent to me in the next few days from the cccc.
I feel like its bad timing with my new job and moving etc but i guess anytime you start to sort you debts out seems like a bad time.
Im away all tomorrow and not back till thursday so i will go through more bits then.
Thanks again for your help........its nice just to know someone is there to help with all these questions i have.

tigerfeet2006

No problem at all. Have you booked your court date? When you have that you will then do your SOA as it stands when you go BR. If you are renting a room in your new place and it is more then that is what you put. Will you still be putting petrol in the car when you move? Will your travel costs change?

MMachine

I havent booked my court date yet. I have spoke to the cccc who can get me an appointment at the end of the month but talking to a couple of people and my circumstance's i feel like going bankrupt seems the option?
Do you think it would be best to wait till the end of the month for the one hour telephone appointment or go ahead and book a court date and get it sorted ealier?
Well i will use my partners car now and then but as i wont be traveling so much im sure she wouldnt mind if i didnt give her petrol money.
My travel costs will be about the same as i will have to get to work and back probably on the bus.

tigerfeet2006

Wait until you have taken advice from CCCS, just to be sure.

fatbelly

Make sure your expenditure figures are per calendar month.

For example if you spend £15 a week on elec, gas or water that's

15 x 52 divided by 12 = £65

mazzatee

Hiya MMachine
I would wait before going bankrupt until you have a clearer idea of your outgoings and you have spoken to CCCS.

Even though some of your initial figures may need reducing you might qualify for a debt managment plan and on current surplus available of £178 you could be debt free in just under 8 years, assuming your creditors will freeze interest and this would avoid you going bankrupt just yet.

You could change your mind later if you feel you're getting nowhere with the plan and the creditors continue to charge interest but take some definite advice before you go down this route.

Good luck!