Help - im about to lose my job - what help can I get?

wendb69

Hi there,

I have just gone through a terrible divorce and just got myself up off the ground again (after 40K of solicitors bills). Now after 19 years, im about to lose my job, which pays me £25,000 gross. I claim single parent working tax credit and some child care which gives me around £50 a week. But, if I lose my job, where do I go and what can I begin to claim for? I own my own house and have taken on a mortgage on my own. My mortgage is £510 a month. I have 2 children under 12. Im so scared. I just dont know where to start. I know I wont get a job that as well paid, so will probably find something in the range of £15,000.

Any advice would be great.
xx

suelees1

Depending on any savings you might have left, when you finish work you'll be entitled to Income Support of £60.50 pw.

However when your youngest child reaches 12 you will have to sign on for Jobseekers Allowance at the same rate. For the first 6 months you will probably get contribution based JSA and after that it will be means tested so will be income based.

With both the above you'll be entitled to full council tax benefit.

For help with your mortgage you will have to wait 39 weeks for them to pay only the interest on your mortgage. However if you were 'abandoned' (wording from the regs) you start to be paid 50% of the interest from week 9.

Any means tested benefits will depend on capital you have

Your ctc will also change but you will have to query the amount with HRMC as it will be based on what you've already been paid throughout the year to date.

If you get another job any benefit entitlement will depend on your new income. HMRC will give you estimates if you ring them.

wendb69

suelees1 wrote: »

For help with your mortgage you will have to wait 39 weeks for them to pay only the interest on your mortgage. However if you were 'abandoned' (wording from the regs) you start to be paid 50% of the interest from week 9.

.

Think I might lose my house in that time if I had to wait that long sadly.

[Deleted User]

wendb69 wrote: »

Think I might lose my house in that time if I had to wait that long sadly.

from january 1st 2009 you will only need to wait 13 weeks for 100% help with mortgage interest,not sure if this will apply to existing claims or just new ones from that date(the applicable amount will rise at the same time from 100k to 175k)
The best thing to do if you even suspect that you will have problems paying your mortgage is to contact your lender immediately,dont wait until they start writing to you,they maybe able to offer a period of interest free,a payment break,but unless you ask you`ll never know

cw18

the reduction in "qualifying period" for IS Mortgage Interest is only for claims made after the new rules (which are only "temporary", but no end date yet announced) come into force.

I've yet to see anything in writing to confirm what I've read on a couple of threads about the change coming into force in January -- my understanding was April (see here)

healy

cw18 wrote: »

the reduction in "qualifying period" for IS Mortgage Interest is only for claims made after the new rules (which are only "temporary", but no end date yet announced) come into force.

I've yet to see anything in writing to confirm what I've read on a couple of threads about the change coming into force in January -- my understanding was April (see here)

It was on the news and in the newspapers the other week about the change in date.

cw18

don't watch the news, don't read papers. would have expected to find it on the Internet somewhere, as the info relating to the change in April is from the BBC website (so basically a news article)

[Deleted User]

It was definately announced in the press last month by james purnell,its possible that as well as bringing forward the date they have changed the qualifying times as well?After all it would seem unfair that someone with a valid claim on december 31st would have to wait 39 weeks whilst the following day only 13 weeks which after all is HALF a year difference

suelees1

From what I've heard (through advisors grapevine nationally) no regulations have yet been laid on this. The govt has confirmed that (for now at least) the waiting time will only be reduced to 13 weeks for those who make new claims from April.

There are other changes in the pipleine - the 2 year limit for JSA claimants and also the increased financial help - it was £100K and is to increase to £175K.

I imagine what claimants will be considering is whether to defer claiming so they come under the new rules and can then be paid earlier along with getting more help with the increase to the upper limit

BUT if this happens then new JSA claimants will be limited to 2 years so it would be better claiming before April.

No-one seems to know yet and the govt itself when asked various questions have come back by saying no details available at present.

It looks as though it will become very messy and it seems the reason there hasn't yet been an amendment to the regs is that they haven't yet looked at all the consequences.

suelees1

healy wrote: »

It was on the news and in the newspapers the other week about the change in date.

Yes sorry about my recent post where I said it was April. It seems it is now January but again nothing official.