Live on £4000 for a year - part 4 (Oct - Dec 2008)

mumzyof2

NYK when i first moved into this house my mum paid 6 months upfront but now im payin the rent myself. Just on phone to creditors.. im well excited.

cw18

nykmedia wrote: »

cw - Isn't there a clause in the benefits rules that allows you to make a capital payment towards your mortgage using redundancy money? If so, would it be feasible to use the majority of the lump sum to reduce (or pay off) your mortgage and then live on whatever regular amount is due to you whilst still having some savings? I'm sure you are allowed £17,000 in savings before it exempts you from claiming. Think of it this way, you worked to buy your house, the money you get in a lump sum is in lieu of the loss of the regular income that would have been used to fund the monthly mortgage payments, so give it a shot - ask at your local Citizens Advice Bureau.

I've been told by several sources (our local CAB is a joke and a total waste of space -- even after you wait 4-6 weeks for an appt!) that we can't use any of the capital to pay off ANY debts. In any case, reducing our mortgage will only reduce what we finally get in benefits -- as a fair chunk will be help with the interest on that. Plus (unfortunately) it's the other debts that are crippling me --- they come in at slightly more than the mortage when I add them all together !!!

As a couple we're allowed £8k in savings without losing any benefit, between £8k and £16k they reduce the benefits by "£1/week for each £250 or part thereof", and above £16k you can't get anything. We're going to be several K above the 16 just from my redundancy, we already have a couple, and I have a savings plan due to pay out in Feb I can't do a thing about and which (before the latest "crash" - it's a Unit Trust) was headed for the best part of another £4k :eek:

I'm just off to figure out if paying the £8K we're allowed to "keep" off the other debts will bring our monthly outgoings to anywhere close to what we're allowed to spend..... one possibility that came to me on the walk I've just been on to try and unlock my back and get rid of my "number crunching headache"

JAMIEDODGER

does anyone do the free games on kingjackpot? if so how often do they come up?

Penny2myName

bails wrote: »

PTMN, :eek: about your phone bill! Is there any way your DD can pay some of it herself?

The numbers that where itemized I have added up (and no idea why my writing is suddenly italic) and she has been informed she owes me (oh its gone now) £16.26. She was given the choice of paying me back via her paper round, or having it deducted from her holiday spending money. She has opted to pay me via her paper round money.
I shall class this as her first #Debt (had her start a spending dairy yesterday) oh by the way she is 14 just turned last week, but had been told right at start she could make calls after 6pm and at weekends to LANDLINES only. most of these calls are mobiles plus her two non urgent reverse charge calls.

Frugaldom

Mumzy, I'm excited for you! You sound like you're buzzing about like a maniacal debtbuster! :rotfl: Long may it continue (and I notice no mention of the ciggies, hmm.... I'm guessing it's still a no go and I was SO hoping you could join me by being the next person to be 'shunned off' the quitters' thread )

cw, I can understand your frustration at all of this but can't understand the reasoning behind 'them' not allowing you to do what you want with your own money. Do you mean that if you use your own money to pay off debts and hold back enough to live off for a year or so, that you won't ever be allowed to claim any benefits if you can't earn enough of an income? Why can't you pay off any debts? I think this sounds like a subject for Martin, himself, to tackle. Apologies if I am completely missing the point or have misunderstood you, but if someone came along and told me what do do with my money then I would soon tell them where to go, I'd be furious. Going to scroll back through your posts just n case I missed something.

Marru

Good evening everybody,

I am back - sort of. I had huge portion of FOOOD last night and did enjoy very nice wine. And now I am going to go and EAT again. Yes I. have been in the play of Oliver Twist, I was one of the orphans singing: Oh glorious food... (that was ummm, 20 years ago...)

I seem to use a full tank of petrol in two weeks. :eek: Every other Wednesday morning I cross everything to get to the petrol station before running out. Also spent money on naughty things at college that were completely unnecessary: crisps, chocolate and chips totalling £1.90.

DD has started wetting herself at school and at nursery again. I will start a new rewards chart and she has to gain 10 stars before she can get the mystery parcel that I got today (I missed the delivery and had to order it into my local post office). I think that it was from DD's honorary adoptee grandmother so THANK YOU!!!!! It has been hidden now and will come out only when the stars have been earned.

I have 26 mnutes left to get my supper before Heroes so better get started.

I hope you all have a very good evening!!!

Marru

redglass_2

Hello everybody,
Have just come home with a big stockpile of rubber gloves - perfect for Kim and Aggie - they are on bogof in Mr M's (their own make) and since I get eczema from detergent I always have to wear them. I'm delighted with my stash! :j Tonight I'm going all World War 2 and making a casserole of hearts. Might be good, might be bluddy disgusting :rolleyes:....but either way, it'll be be very OS.
What happened to the Australian lady, was her name Puss? Not sure. Did anyone reply to her? Hello, Puss, are you still there?

Skint_Lynne

cw18 wrote: »

I've been told by several sources (our local CAB is a joke and a total waste of space -- even after you wait 4-6 weeks for an appt!) that we can't use any of the capital to pay off ANY debts. In any case, reducing our mortgage will only reduce what we finally get in benefits -- as a fair chunk will be help with the interest on that. Plus (unfortunately) it's the other debts that are crippling me --- they come in at slightly more than the mortage when I add them all together !!!

As a couple we're allowed £8k in savings without losing any benefit, between £8k and £16k they reduce the benefits by "£1/week for each £250 or part thereof", and above £16k you can't get anything. We're going to be several K above the 16 just from my redundancy, we already have a couple, and I have a savings plan due to pay out in Feb I can't do a thing about and which (before the latest "crash" - it's a Unit Trust) was headed for the best part of another £4k :eek:

I'm just off to figure out if paying the £8K we're allowed to "keep" off the other debts will bring our monthly outgoings to anywhere close to what we're allowed to spend..... one possibility that came to me on the walk I've just been on to try and unlock my back and get rid of my "number crunching headache"

Cheryl, There is a facility in Glasgow where you can phone the CAB, you don't need to use the local office. I think that you can actually go into any one in your area, it does not need to be the one that is local to you.

I went a couple of months ago, and it was a joke, the guy went off on a tangent about a subject that I was not even there to ask about, it ended up with him asking if I was scared of my DH? (He is thousands of miles away working and I didn't want to worry him!!)

That's when I found out that you can call them. There will be excellent advisors there, I was just unlucky.

It does not sound right that 'they' are dictating what you do with your own money, I really would look into it more.

SL x

Edit: You might have a local law centre, what about trying that instead of CAB. My aunt uses one to get help with her benefits as she is ill.

cw18

nykmedia wrote: »

cw, I can understand your frustration at all of this but can't understand the reasoning behind 'them' not allowing you to do what you want with your own money. Do you mean that if you use your own money to pay off debts and hold back enough to live off for a year or so, that you won't ever be allowed to claim any benefits if you can't earn enough of an income? Why can't you pay off any debts? I think this sounds like a subject for Martin, himself, to tackle. Apologies if I am completely missing the point or have misunderstood you, but if someone came along and told me what do do with my money then I would soon tell them where to go, I'd be furious. Going to scroll back through your posts just n case I missed something.

I know why the rules are there -- it's too stop me spending it on a 'round the world' trip and buying myself an XJ6, then claiming full benefits 'cos I've nothing to live on.

But basically yes, they're telling me how much I can spend a week and what I can and can't spend it on. I won't get started here on the full list of allowed/not allowed -- but my biggest bugbears ATM are the fact they won't "allow" me to pay for contents insurance (which is a personal choice, but one I think people are daft not to have) not the building insurance (condition of mortgage) not the life insurance policies that are in place to cover the mortage (and also a condition of the mortage). These alone account for £150/month (which covers our overspend!!!)

mumzyof2

NYK I am afraid still smoking but i have been looking at trying to quit. I want to ring the local stop smoking service but im scared lol. I tried to stop 2 weeks ago.. i think i stopped at about 10pm and didnt have one till 12 noon next day but i did it without any replacements and i got the feeling in my tummy that you get when u done something wrong or feel guilty about something