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  • FIRST POST
    • Crowlikethebird
    • By Crowlikethebird 11th Jul 18, 9:09 PM
    • 10Posts
    • 1Thanks
    Crowlikethebird
    Have pressed submit, SOA now open for scrutiny.
    • #1
    • 11th Jul 18, 9:09 PM
    Have pressed submit, SOA now open for scrutiny. 11th Jul 18 at 9:09 PM
    Hi all
    I have put together this SPA although in "real life" I se4m to break even.
    I don't think I havr missed anything glaringly obvious. I would be really grateful for any advice on where costs may be considered too high or too low and whether an IPA is likely.
    Thanks in advance.

    Statement of Affairs and Personal Balance Sheet

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

    Monthly Income Details

    Monthly income after tax................ 2267
    Partners monthly income after tax....... 0
    Benefits................................ 82.8
    Other income............................ 0
    Total monthly income.................... 2349.8


    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 975
    Management charge (leasehold property).. 0
    Council tax............................. 95
    Electricity............................. 39
    Gas..................................... 58
    Oil..................................... 0
    Water rates............................. 24
    Telephone (land line)................... 20
    Mobile phone............................ 35
    TV Licence.............................. 12.25
    Satellite/Cable TV...................... 8
    Internet Services....................... 0
    Groceries etc. ......................... 290
    Clothing................................ 30
    Petrol/diesel........................... 170
    Road tax................................ 13.59
    Car Insurance........................... 48
    Car maintenance (including MOT)......... 50
    Car parking............................. 10
    Other travel............................ 5
    Childcare/nursery....................... 30
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 16.4
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 10
    Life assurance ......................... 25.96
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 20
    Haircuts................................ 30
    Entertainment........................... 40
    Holiday................................. 10
    Emergency fund.......................... 20
    School uniform ......................... 20
    Tax savings? ........................... 37
    Pocket money ........................... 12
    Professional reg fees................... 26.4
    DBS .................................... 3.66
    Contract renewal fee letting agent ..... 12
    Total monthly expenses.................. 2196.26



    Assets

    Cash.................................... 100
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 400
    Other assets............................ 0
    Total Assets............................ 500


    No Secured nor Hire Purchase Debts


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Nationwide OD..................2239......0.........0
    Nationwide CC..................7001......0.........0
    Nationwide loan ...............13500.....0.........0
    Zenith PCN ....................140.......0.........0
    HMRC CTC OP ...................1500......0.........0
    Catalogue .....................160.......0.........0
    Aqua CD .......................170.......0.........0
    Halifax no.2...................2000......0.........0
    Halifax no.1...................1512......0.........0
    Tesco CD ......................8600......0.........0
    Total unsecured debts..........36822.....0.........-



    Monthly Budget Summary

    Total monthly income.................... 2,349.8
    Expenses (including HP & secured debts). 2,196.26
    Available for debt repayments........... 153.54
    Monthly UNsecured debt repayments....... 0
    Amount left after debt repayments....... 153.54


    Personal Balance Sheet Summary
    Total assets (things you own)........... 500
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -36,822[b]
Page 1
    • Glad
    • By Glad 11th Jul 18, 9:54 PM
    • 17,914 Posts
    • 39,636 Thanks
    Glad
    • #2
    • 11th Jul 18, 9:54 PM
    • #2
    • 11th Jul 18, 9:54 PM
    you spend 10 a month towards holidays and 20 a month on school uniform?
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    • mummyofboys1985
    • By mummyofboys1985 12th Jul 18, 6:45 AM
    • 83 Posts
    • 4 Thanks
    mummyofboys1985
    • #3
    • 12th Jul 18, 6:45 AM
    • #3
    • 12th Jul 18, 6:45 AM
    School uniforms are easily 20 per month for one child, probably even more. I have 3 school age and it costs me 600 plus every year and additional items that need replaced during the school term. I'd up holiday fund though. 120 per year for a holiday doesn't even get a caravan for a weekend
    • Crowlikethebird
    • By Crowlikethebird 12th Jul 18, 2:23 PM
    • 10 Posts
    • 1 Thanks
    Crowlikethebird
    • #4
    • 12th Jul 18, 2:23 PM
    • #4
    • 12th Jul 18, 2:23 PM
    School uniforms are easily 20 per month for one child, probably even more. I have 3 school age and it costs me 600 plus every year and additional items that need replaced during the school term. I'd up holiday fund though. 120 per year for a holiday doesn't even get a caravan for a weekend
    Originally posted by mummyofboys1985
    Thanks for this. Yes I added everything up and definitely spend 240 a yr on school uniform shoes PE kit etc.
    Holidays-I put 10 as other sources have suggested that once bankrupt the likelihood of the OR letting you have 30 towards holidays is slim. I suppose I saw it as a token payment towards days out as opposed to actually going somewhere for a break? Is the OR likely to let me save 30 a month for a holiday?
    • PaulL2
    • By PaulL2 13th Jul 18, 5:26 PM
    • 47 Posts
    • 21 Thanks
    PaulL2
    • #5
    • 13th Jul 18, 5:26 PM
    • #5
    • 13th Jul 18, 5:26 PM
    OR will definitely allow 10 towards a holiday for a single person, possibly even 20 a month. A family surely much more? No harm in asking for it and seeing what they say.
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