any help for us

beckydee

hi all am just wondering if anywhere could help us.my husband is a self employed taxie driver but his car has broken down its going to cost £1700 to put it right but we have not go that kind of money.while his car is off the road we have no income comming in and the bills are starting to come in now we do get tax credits and child tax credits. any sugestions of anyone please thanks

baza52

bank loan?

Indie_Kid

Overdraft?

Jomo

A few years back I found myself in a similar situation where I really needed to get hold of some money to fix my car, at the time I was travelling to some temporary offices that were really awkward to get to by public transport so I had no option but to get a loan...

passatrider

If you are really stuck and cannot get a loan/overdraft/borrow then I suggest your OH packs it in and gets another job!

Sorry to be blunt but I say this as an ex-taxi driver myself who was in your position a few years back and could get no help from the bank, but managed to borrow off family. I could not make enough money to put back for repairs and my credit rating was shattered from a previous loan I had defaulted on.
I never managed to catch up with my debts and ended up going bankrupt in the end. I've vowed never to go back into the business as there's just no money in it.

On a lighter note your OH could drive for someone else if you are desperate just to put food on the table.
You could also try the DWP for a crisis loan if you have no means of buying food.

I wish you luck!

andyandflo

beckydee wrote: »

hi all am just wondering if anywhere could help us.my husband is a self employed taxie driver but his car has broken down its going to cost £1700 to put it right but we have not go that kind of money.while his car is off the road we have no income comming in and the bills are starting to come in now we do get tax credits and child tax credits. any sugestions of anyone please thanks

First of all you have to decide if he is still 'in business' or wishes to close the business until he gets the money together.

Tax Credits
If he is still running the business, you have to estimate what his income will be for this accounting year. If it has dropped you will be entitled to WTC.

Benefits
If the business has closed down then he can claim JSA Income Based & CTB & HB.

Have a look at the websites from HMRC and entitled

emmell

Does he work for a Taxi company, my brother does but has his own car but if the car is laid up for any reason he hires a spare car. I know what passatrider says is true but we (me and my sisters) had to sort our brother out when our mum died because he could always go to her if he needed money. He now gives £50 per week for his Taxi fund to us. The first year he used to miss if he had repairs or tyres to buy and he used the bulk of it towards his insurance, but for the last 2 years he didn't touch it and with the money he'd saved and the value of his old Taxi and a little loan from me, he has been able to buy a 56 plate Skoda Octavia.
Taxis take a lot of maintenance mechanically, bodily and tyres, so a weekly fund set aside is a must. But that doesn't help you now, he should see if he can short term hire a Taxi or see if he can get some work driving someonelse's Taxis.
ML.

Jowo_2

If he's truly self-employed (as opposed to an employee by a tax company) and submits a tax return, would he not be eligible to offset his tax bill with deductions for his repairs? In other words, at some point in the future, his repairs get paid for because the tax bill gets reduced pound for pound for this type of expense? I don't know the business structure for tax drivers but that's how it works for tax returns. I know this doesn't help out immediately.

Deepmistrust

beckydee wrote: »

hi all am just wondering if anywhere could help us.my husband is a self employed taxie driver but his car has broken down its going to cost £1700 to put it right but we have not go that kind of money.while his car is off the road we have no income comming in and the bills are starting to come in now we do get tax credits and child tax credits. any sugestions of anyone please thanks

If you are unable to access high street personal lending. You will probably be eligible for the Enterprise Finance Guarantee scheme.

(Basically a government-backed finance scheme to support small businesses who need access to credit during the recession. It's run by all 5 top banks, and the government guarantees 75% of the loan).

There is a criteria to fit, read all about it here:

http://www.businesslink.gov.uk/bdotg/action/gsdDetail?itemId=1081834978