Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • StillStudenting
    • By StillStudenting 26th Sep 17, 12:56 PM
    • 10Posts
    • 27Thanks
    StillStudenting
    Finally admitting I'm in debt :(
    • #1
    • 26th Sep 17, 12:56 PM
    Finally admitting I'm in debt :( 26th Sep 17 at 12:56 PM
    Hi!
    So I've joined this site as I need help! 12 months of following a Facebook page about '3 lettering' debt and I'm none the wiser and still drowning in debt!

    Background: I became a mature student 2011 and opened a student bank account.I already had a Very and Next account that I used for kids clothes and was clearing them every couple of months.
    If at any point you're wondering how i was given so much credit, despite being a housewife then student we had a 'household income' of over £60,000 (however my husband soon started keeping all his income to his self, read on)

    I was given a Credit Card in 2012 with a £3000 limit and used some of it to close my Very account. Soon began using it for essentials when I had no money, husband decided he didn't agree with me leaving the children to study so refused to share income from this point onwards (petrol, kids clothes etc). Limit increased to £6000 so I also used it to buy a cheap car to drive to uni as I wasn't allowed to drive family car in case Husband needed it (He was SE but main office at home)

    I graduated with a First and won a monetary award and used it to slightly dent my CC. Won a place to study a Ph.D, Fees paid but no maintenance.

    I was then given a £2000 overdraft in 2014 when i became a Post-grad student and with no access to household income or student grants it soon went.

    Living in an owned outright home I was managing paying minimum on the card and ignored the overdraft. Then I got a text in 2016 saying my limit was increased to £9000 and I stupidly started spending (day to day needs, paid my huge private dentist bill etc.)

    This whole time I wasn't receiving any benefits remember as household income was too big.

    Then my circumstances changed. I had to move out because of DV and all of a sudden I had rent to pay and two children to pay for ( no claim to house after fleeing DV as it was owned outright by Husband not me).

    So here I am trying to rid myself of this built up debt -
    1. Barclaycard - £8,500
    2. Next - £3000
    3. Overdraft - £1300
    4. Car Finance - £6000 outstanding (£173 pm)

    Income -
    1. £530 a month from assistant job in University (still writing Ph.D so can't apply for FT job)
    2. £189 - a week Tax Credits
    3. £135 - a month CHB
    I get NO maintenance as Ex Husband is SE and has been giving himself no income since February (when I left). Maintenance service said there was nothing they could do despite having proof he's just paid cash for a new (luxury) car.

    Currently I have £500 in the bank :(

    Where do I start?
Page 3
    • Pixie5740
    • By Pixie5740 3rd Oct 17, 6:17 PM
    • 11,202 Posts
    • 15,655 Thanks
    Pixie5740
    Very good. But no Christmas meals out with work colleagues, catch ups with friends etc? - 'tis the season to be merry after all. No extra spending on nice food or booze for the day itself? No taxis on New Year's Eve because you've had a drink so can't drive? Christmas spending doesn't begin and end at presents unfortunately....

    Don't forget also that most places bring forward pay day in December - usually so that it's before 25th. Given January's a long month anyway, even people in full time employment can be going the best part of 6 weeks between pay days, and a rather large amount of spending in between!
    Originally posted by ReadingTim
    None of those things are compulsory. Iím sure the OP can forgo a couple of Christmas and Hogmanay parties especially since she will be busy finishing off her PhD.
    Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery.
    • Silver Queen
    • By Silver Queen 3rd Oct 17, 7:48 PM
    • 166 Posts
    • 1,008 Thanks
    Silver Queen
    In regards to the house, please seek legal advice from a DV charity, citizens advice or even see if there is a family solicitors who will do pro bono or an hour of free advice or similar. It depends on the contents of this contract but if your ex owned the property and worked so that you could bring up the kids, you would likely be entitled to a share because you'd have a beneficial interest and the contract they had you sign may not be enforceable. Especially with the DV I think if you ended up in court any judge would look more favourably to your case. If you can't afford the court fees to bring proceedings you can apply for a fee waiver and the form is usually straightforward to fill in. I would say though if it comes to this you need to apply for a fee waiver from day one otherwise it gets harder, not easier to get one. Good luck!
    Debt Totals Decemberr 17:
    £350 Natwest Credit Card / Now £0 £15,500 Loan from Parents 1 / Now £12,250 £500 Loan from Parents 2 / £250 £2,000 Overdraft Now £1,700
    • MsVincy
    • By MsVincy 4th Oct 17, 6:29 AM
    • 3 Posts
    • 10 Thanks
    MsVincy
    [QUOTE=StillStudenting;73178557]Sorry - I had to sign away rights to this house 6 years ago - We lived in our first [house for 3 years then when ExH grandmother died her home went to her daughter (my Ex MIL) who then was pressured into giving it to ExH as he wanted us to have a 'big family home'. Worried about their family assets Ex MIL instructed her solicitor to produce a document which I had to sign to say I had no claim on the house.[QUOTE]



    Hi Stillstudenting

    From what you have written I'm assumimg you are still married? If that's the case I'm not convinced that you have "signed away" your claim upon the family home. As another poster has said, irrespective of whose name is on the title , as a spouse you automatically have a beneficial interest in the matrimonial assets. Therefore, a claim is possible. If on the other hand what you are actually saying is that the house still belongs to your parents-in-law with your ex-partner's name added, but you perhaps signing a Declaration/Trust Deed then your claim is limited but not extinguished.

    If you haven't already I would certainly recommend taking some preliminary legal advice. I'm not sure if I can signpost but there are very helpful charities that offer free legal advice by telephone if you are interested.
    • EssexHebridean
    • By EssexHebridean 4th Oct 17, 10:30 AM
    • 8,232 Posts
    • 43,616 Thanks
    EssexHebridean
    [QUOTE=MsVincy;73213203][QUOTE=StillStudenting;73178557]Sorry - I had to sign away rights to this house 6 years ago - We lived in our first [house for 3 years then when ExH grandmother died her home went to her daughter (my Ex MIL) who then was pressured into giving it to ExH as he wanted us to have a 'big family home'. Worried about their family assets Ex MIL instructed her solicitor to produce a document which I had to sign to say I had no claim on the house.



    Hi Stillstudenting

    From what you have written I'm assumimg you are still married? If that's the case I'm not convinced that you have "signed away" your claim upon the family home. As another poster has said, irrespective of whose name is on the title , as a spouse you automatically have a beneficial interest in the matrimonial assets. Therefore, a claim is possible. If on the other hand what you are actually saying is that the house still belongs to your parents-in-law with your ex-partner's name added, but you perhaps signing a Declaration/Trust Deed then your claim is limited but not extinguished.

    If you haven't already I would certainly recommend taking some preliminary legal advice. I'm not sure if I can signpost but there are very helpful charities that offer free legal advice by telephone if you are interested.
    I fear that people may be raising OP's hopes falsely here - this is a house that was gifted as an inheritance, and there are all sorts of funny rules about what can, and can't, be done in relation to that scenario. Yes she should still look at getting it checked, but sorry OP, I fear you may not have any claim here as you suspected was the case. Of course it may well be that if the original family home was sold as a result of ExOH inheriting this one, that you would have a claim on any profit that was achieved from that sale.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£702.45 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

215Posts Today

1,325Users online

Martin's Twitter
  • Have a lovely weekend folks. Don't do anything (fiscally) that I wouldn't do!

  • RT @thismorning: With his last deals of the year, @MartinSLewis wishes us all a 'very merry Christmas, a happy Hanukkah and a wonderful and?

  • RT @stoneygran: @MartinSLewis I furtively used a pub toilet last night before getting on the bus and felt really guilty!

  • Follow Martin