More going out than coming in!....HELP!

amethystb

Not sure if this is the right place for this ....
My husband has been unemployed through redundancy for nearly a year off and on...i say off and on cos he has a few months work but firm didnt have the work so had to let him go.
The problem is that we have approx £1000 outgoings each month ..thats paying utilities,insurances,mortgage,car(which leasehold which finishes in Sept ..meaning we either pay balance or hand car back)....the only debt we have is my catalogues which is £200....
Our overdraft is £1,900 and as from this month my wages wont clear any of it .
The only money we have coming is is my part time wages of approx £500 per month and £120 per month pension for fingers he injured....the only benefit we get is Council Tax paid......
We've used all our savings, which to be honest wasnt much to start with!......so it doesnt take a mathmatician to work out we're screwed!
The only way we can survive is because of our mortgage....we had a £100,000 mortgage because of the VERY low interest rate we were getting....we paid the £65,000 back and just had the £35,000 for our mortgage.....but we can use the £65,000 until the mortgage is paid....so thats what we're doing BUT the mortgage ends in 6 years and if we can pay back the money we've been using we will have to sell the house. Our overdraft is £1,900 and as from this month my wages wont clear any of it .
I just dont know what to do anymore.......no-one seems to give a dam.....cant find anyone to help or sit down and talk to ..
Can my daughter take over the mortgage and rent the house back to us?...would we be able to claim Housing Benefit then?.... with a proviso that when the mortgage is paid its given back to us?......dont know what else to do......cant cope with the endless rows and stress of it all.........
:wall::mad:

tiggerkian

do you not qualify for tax credits???

ruthber

is your husband claiming JSA?

Jowo_2

Work through the Entitled to (turn 2 us) website to calculate benefit entitlements.

Home owners cannot get housing benefit (now known as Local Housing Allowance for private tenants). The Shelter website has information for home owners struggling to pay their mortgage, including government schemes and advice how to deal with the lender. Google 'contrived tenancy' to understand why it is possible for tenants to claim LHA if their landlord is a close relative but why some claims are rejected for being set up to exploit the housing benefit system). Google 'deprivation of capital ' to understand why some transfers of assets/capital can cause means tested benefit claims to be rejected. Shelter is your best bet.

Download the budget planner on the tools section of this website. Then work through the site for tips on how to save money to review every single line of the expenses on it to see where savings can be made.

Check the Debt Free wanabee forum, post a statement of accounts, and they can help you deal with the debts (your debts include your overdraft not just your catalogue!).

DX2

amethystb wrote: »

Can my daughter take over the mortgage and rent the house back to us?...would we be able to claim Housing Benefit then?.... with a proviso that when the mortgage is paid its given back to us?......dont know what else to do......cant cope with the endless rows and stress of it all.........
:wall::mad:

You are kidding right?

sparrowsfart

DX2 wrote: »

You are kidding right?

Without even a small amount of understanding (not the same as condoning, or agreeing) I fail to see your contribution to this thread.

OP, it's highly unlikely in these circumstances that you will receive hb, besides, in the time for her to get a mortgage as a landlord, for her to set up a proper legal tenancy agreement, and for your application to go through, is it not more likely that your husband may find some work before then?

DX2

sparrowsfart wrote: »

Without even a small amount of understanding (not the same as condoning, or agreeing) I fail to see your contribution to this thread.

OP, it's highly unlikely in these circumstances that you will receive hb, besides, in the time for her to get a mortgage as a landlord, for her to set up a proper legal tenancy agreement, and for your application to go through, is it not more likely that your husband may find some work before then?

yawn, yawn, yawn.

amethystb

Strangely enough NO...... I WASNT kidding!......Its called being at your wits end and DESPERATE!!.....and with him STILL out of work its even worse so MANY thanks for your helpful and useful advice!.....or should that be helpLESS and useLESS??
Thanks to all the other contributors for THEIR advice......its appreciated

Snakeeyes21

clearly a troll, not a very good one but still a troll, 1/10 must do better....

karenx

The government wont let your daughter take over the house then pay your mortgage then let you have the house back once its all paid.
Is there an option to sell?

Indie_Kid

You may want to look at debt free wannabe and old style money savings boards.