Bankruptcy SOA Help

Hi everyone,

A typical long time lurker/first time poster. Have made the decision to go Bankrupt after seeking advice through Step change (Who have been fantastic) and deciding against an IVA, I've no assets so figure this is the best route. Total unsecured Debt is circa 32k, and this was racked up due to over-committing and a head-in-the-sand attitude, I've now made peace with my silly decisions and have stopped making payments while I save for the BR Fee.

I wonder if anyone could take a look at my SOA please?

I've not included my wife's income, which is about 1200 per month, she has her own debt (Which is currently manageable for her) and we split the bills fairly (Hence my omission of council tax and water rates etc.)

Pet costs are a little high, we've a few cats and a large dog with a recurring vet issues, and maintenance for my car is due to it being an old girl with a lot of work required

Anywhere else where I can flesh out a little? This is based on what was set out by my IVA advisor, The repayment figure she came to was £312 per month based on splitting the surplus with my wife's income. Would an IPA be similar?

Thanks very much in advance


Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1419
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1419

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 160
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 60
Gas..................................... 51
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 35
TV Licence.............................. 7
Satellite/Cable TV...................... 17.98
Internet Services....................... 28
Groceries etc. ......................... 200
Clothing................................ 34
Petrol/diesel........................... 165
Road tax................................ 14
Car Insurance........................... 75
Car maintenance (including MOT)......... 50
Car parking............................. 2
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 35
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 0
Other insurance......................... 25
Presents (birthday, christmas etc)...... 35
Haircuts................................ 20
Entertainment........................... 30
Holiday................................. 20
Emergency fund.......................... 12.5
Microsoft Office & Cloud Storage........ 12
Dentist Optician ....................... 17
Food at Work ........................... 35
Pet food................................ 35
Total monthly expenses.................. 1205.48


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 800

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total Unsecured................32000.....1050......0
Total unsecured debts..........32000.....1050......-


Monthly Budget Summary
Total monthly income.................... 1,419
Expenses (including HP & secured debts). 1,205.48
Available for debt repayments........... 213.52
Monthly UNsecured debt repayments....... 1,050
Amount short for making debt repayments. -836.48

Personal Balance Sheet Summary
Total assets (things you own)........... 800
Total HP & Secured debt................. -0
Total Unsecured debt.................... -32,000
Net Assets.............................. -31,200


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