help ? investment??

Zammo

CB1979 wrote:

get a grip you lot, you don't know the full facts of whether she has any dependant children, so would probably rule out the point of working full time, as childcare costs are a joke!

Why don't you get a grip? This woman wants to squirrel away 40k so the taxpayer can continue to pay her rent and living expenses. Wether she has children or not she should use this money to pay her own way for a change.

PoorDave

Jake'sGran wrote:

I would be surprised if a person was allowed to do this and then claim housing benefit. Were you being sarcastic?. Renting is a bad idea to me and I think the lady should use it to buy a property even though they are all overpriced now.

But she said she can't afford to...

Angela_D_3

PoorDave wrote:

But she said she can't afford to...

Perhaps she should have considered that before getting divorced or agreeing the settlement.

How about giving the £40k back to the ex husband to invest for the children, no she'd rather blow it on holidays and crap so we can support her in benefit payments. :mad:

A_Nice_Englishman

Jake'sGran wrote:

I would be surprised if a person was allowed to do this and then claim housing benefit. Were you being sarcastic?. Renting is a bad idea to me and I think the lady should use it to buy a property even though they are all overpriced now.

Are you being sarcastic now Jake'sGran? The advice to buy a property "even though they are all overpriced" seems rather odd

tomstickland

everyone wrote:

loose

The word is lose.
You lose something.
Loose means something is not firmly fixed down.

Glad I got that off my chest!

Jake'sGran

A_Nice_Englishman wrote:

Are you being sarcastic now Jake'sGran? The advice to buy a property "even though they are all overpriced" seems rather odd

Only just realised there had been more input. No, I wasn't being sarcastic. It's a difficult situation and I suppose my responses tend to be based on the fact that I have been poor, when I was a young girl at home and when I first got married but I always worked. Buying a house was just a dream in those days. At one stage when I was pregnant and my husband out of work we did ask The Assistance Board for help and they gave my husband £2. They came round to check that we had used it to pay bills. When he got work we saved liked mad and things got better. Now we have a very comfortable retirement but I am in poor health.

So, what does a person do when they have £40k and no home. It would not occur to me to splash out and then live on benefits. I have never been in that mindset; maybe I should have been. Independence was always very important to me but to others it's not an issue at all. Also, dealing with the benefit system is horrendous in my experience. I had to act as my son's advocate three years ago when he just crashed with the weight of debt and had a nervous breakdown. Just 'phoning the benefit office (when you can get through) was very depressing. In the end he got what he was entitled to after a few months and did get better . He too would hate to have to call on them again. How anyone could actively seek to claim from them is beyond me. Go to work I say, invest the money and use the interest to top up the monthly income. What's wrong with that?

Debt_Free_Chick

stan1 wrote:

hi ive recently received a divorce settlement and its not enough to buy a flat without a mortgage (40k) and Im now loosing out on my benefits so have to pay my rent £575pcm. Im a single mum and work par time earning £5600 pa with top up of wftc. my prob is I cud prob only get 50k mortgage and with this deposit its not enuf to buy a flat in my area. I cant move out of the area either. if i work full time I just earn the same as with the WFTC so im no better off. but I dont want to spend all this money on rent where cud i invest it? to give me a good income or should i just blow the lot on things weve never had ?

The problem is that benefits are there to help those who do not have money of their own. Compared to others on benefits, you are in a very fortunate position as you have £40k. The State expects you to use this to provide a home, food & clothes for you and your child first. When the money runs out .. then the benefits kick back in (if you're still eligible, at that time).

I know it seems harsh, but those who work are not necessarily in a better position. We have to feed & clothe ourselves too ... and pay taxes to be redistributed to those who need benefits (amongst other things!).

There isn't really anything you can do to legally hide this money whilst continuing to claim benefits. In short, you are not entitled to (most) benefits whilst you have the means to manage without them.

Be careful about blowing the money. If you deliberately deprive yourself of assets e.g. by spending recklessly, then this can disqualify you from benefits! The State will see that you have deliberately tried to flout the system.

Could you look at shared ownership of a property via a housing association?

Sorry .... but that's the way it is.

Regards

stan1

Great thanks guys for the input ,
wud just like to say that I had no intention of defraud only on here to get investment advice by sum miracle really a safe bet ha ha

well in my defense to Angela D I have always worked thru my whole adult life and when i first left my husband I worked nights without sleep three daYS A week and after 10 months was really i'll . I also had a paper round in the day to keep me awake whilst lookin after my 2 yr old. Anyway when I was sick I never claimed sickness benefit but soon got another job.

I left my husband in our house and had nothing and have moved my kids round bad flats that have been sold under our feet for 4 years but kept my kids really well and happy on 2nd hand stuff. I left my husband b caouse he was violent and never supported us as a family.

Anyway I have decided to get mortgage advice and if I cant get enough will pay my own rent and legitimately buy site caravans as an income on rental and hopefully this will be the same amount as claiming benefits.

elona

I just wanted to wish you luck.

Hope that things get better for you.

clutton_2

good luck to you stan1 - and good on ya for not rising to the bait of these rude judgemental "baiters" on here recently