advice needed please.

cherrypie556

The childcare is nothing to do with CTC. CTC won't give me anything towards childcare unless myself and DH both work over 16hrs a week. The childcare element of the bursary i will only receive if the kids go to an Ofstead approved childcare provider, which will cost me £522 a week (feeling like im repeating myself somewhat) An au pair is not registered with Ofstead so I am entitled to diddly squit for her.

RAS

Fine but some people have claimed childcare through both CTC and the bursary and come unstuck.

That does not alter the fact that you will get over £10,000 per annum plus some placement costs to help you over the next three years.

That is enough to pay the Au pair and the shortfall in your current SOA. it may even cover your extra costs of the au pair.

You could spend some time on the old Style forum and find ways of reducing your grocery bill.

cherrypie556

I wont get £10,000 per annum because 5k of that 10k is childcare costs which i wont receive. I'll be lucky to get 5k over the year, and it doesn't come alll at once, it's spaced over the year. I have been looking into student finances for over a year now, so know what i can and cannot claim for. Plus most people whom are doing the same course as myself, have done the bursasy calculator and then their final award has been about 50% less, so you cannot really use it as much of a guide due to too many innaccuracies! I do appreicaite your help and advice though and please don't think i am being 'offit' with you as i am not.

I think we are possiblily going to look into a IVA. What is the best debt advice company to speak to do you know? Thanks

RAS

Cherrypie

I am wasting my time talking to you - The £5000 you seem to think is child care costs are dependents and parental allowance which are paid irrespective of child care arrangments. Yes it is means-tested, but based on your SOA, your income is too low for that to affect things.

When you are a student you will have to learn to use a library and the internet. Please start learnign this process now and read through the web-site I linked earlier and put your SOA data through the bursary calculator on the web-site.

Then speak to the student finance office tomorrow. Hopefully face to face contact will help you understand where on-line help does not.

RAS

cherrypie556 wrote: »

I think we are possiblily going to look into a IVA. What is the best debt advice company to speak to do you know? Thanks

For heaven's sake NO. IVAs are only suitable for a very small number of people. They also attract fees of £5-700 just to set up. And most fail.

wannabedebtfree_2

The electric and gas does seem awfully high, I am on prepayment for both (as like yousay it is easier to 'pay as you go') and we pay about £70-85 per month for both dependant on the weather........we have 2 kids, but I wouldn't have thought 2 extra kids would cost an extra £80+ per month in electric.......would they???

cherrypie556

Obviously yes lol. We use about £20 a week on electric and same on gas in colder months. The house is old, needs re-wiring and a combi boiler but the landlord is too tight!

Tixy

cherrypie556 wrote: »

I think we are possiblily going to look into a IVA. What is the best debt advice company to speak to do you know? Thanks

As RAS says IVAs are not suitable for most people. Even if your finances stay as they are on your SoA (if you got nothing from college - which obviously isn't the case) then I think you would be much more sensible looking at a debt management plan rather than an IVA.

Please speak to one of the free debt advice services before talking to a commercial company about IVAs (commercial companies make a lot of money from IVAs whether or not they are the best thing for you). Suggest you speak to one of the organisations on this list - http://www.moneysavingexpert.com/loans/debt-help-plan#help

As for the student income thing I would have no idea how this works but at the very least from the info RAS has posted it sounds like it will be worth having a conversation with your student finance advisor to make sure you are getting everything you are entitled to.

Back to a seperate issue - did you estimate your husbands income on this years tax credit forms? I know you are struggling to raise the money for the accountant but I think this is priority so that you can be certain of his income and can give the tax credit folks exact figures. You could be entitled to more money, so the sooner you receive it the better or if you are receiving too much then again the sooner you know the better. Maybe you could ask your accountants if they will complete the figures now if you give them either post dated cheques at £100 for the next 3months, or set up a standing order for a similar amount.

Good luck