Please can someone help??

vicki90b

Hi all, new to this site, just so desperate for some help..Situation is, (as briefly as poss) lovely Husband left me with two week old baby a year ago, and around 30k of debt. I have a mortgage on my home and if sold, should have around 50k left (mums inheritance). Because of the change to benfits rules (only 3.6% of mortgage interest gets covered now) once my bills are paid, I am not left with enough to live on. I went back to work part time, but once nursery bills were paid, I was even more worse off then than when on benefits. I feel I have no option but to sell and waste my mums inheritance away (and my daughters future inheritance) by renting privately. I have read alot about deprivation of capital so realise I can't just 'give' the money away. I have always worked, and am still prepared to work, just feel so gutted that I will be wasting so much money. Can anyone think of a way around this?? Yes I know I am lucky to have some money behind me. I just feel whilst my daughter is still so little, I should be able to get some help instead of just wasting everything I've worked for so far. Thanks in advance.

karenx

Are you getting any help towards childcare costs? What about child maintenance from the father?

vicki90b

He gave up his job in order to be entitled to legal aid -CSA agreed £5 per week as he's claiming beneifts...you may aswell say no as that doesn't buy a packet of nappies!

rogerblack

Several thoughts.
First, pop over to the 'debt free diary' section, and find the budget tool.

See if it's possible to add the 30K debt into your mortgage, as this may be considerably cheaper.
Make absolutely sure you are legally required to pay the 30K debt.

Negotiate with mortgage, and whoever owns your debt, showing them your incomings.

Make sure you're claiming all benefits you're entitled to - from single persons council tax discount up.

vicki90b

Hi, Thank you, will have a look at debt free diary section...to be honest, debts are being managed at the moment, its the day to day living expenses I just cannot afford, I'm left with about £100 per month to buy food, nappies, petrol, etc etc Have spoken to Santander, won't increase the mortgage, or negotiate in any way, definately claiming all benefits, and definately legally required to pay the debts. It just seems if I had chose to waste my inheritance on partying, then got pregnant and asked for help, I would be alot better off than having invested my money in this house!!

nannytone_2

i know you want to save your inheritance, but arent savings for a rainy day? it's certainly raining for you right now!

vicki90b

Yes that is definately one way of looking at it!

AnxiousMum

Just a thought - but you say that the debts were built up before your husband left? I know that he's on benefits right now, but, if the debts were brought about while you were together, and you can show that it wasn't just credit card purchases on new clothing, shoes etc. for yourself, but things either that he purchased, or that were for the household/family, did you have this included in your divorce? It may not help at the moment with having to pay the bills to keep your credit report healthy, but down the road, he would have to pay you what he owes as his share of the bills.

In the meantime, can you renegotiate with any of your lenders to lower interest, have a mortgage holiday month so you can have some 'emergency' money behind you?

vicki90b

Thank you but my Solicitor has said that although we could proove that he pretty much stole my money, because he's so useless, even if we won the case at court, I wouldn't see any money back, and as it's all in my name, I have to take responsibility for it. Apparently. As for mortgage, Santander have been so unhelpful, best they've offered me was a three month freeze on mortgage, won't renegotiate, no payment holidays etc. Thank you though!

rogerblack

vicki90b wrote: »

Thank you but my Solicitor has said that although we could proove that he pretty much stole my money, because he's so useless, even if we won the case at court, I wouldn't see any money back, and as it's all in my name, I have to take responsibility for it. Apparently. As for mortgage, Santander have been so unhelpful, best they've offered me was a three month freeze on mortgage, won't renegotiate, no payment holidays etc. Thank you though!

Have you investigated if it's possible to move your mortgage provider?

Oldernotwiser

vicki90b wrote: »

He gave up his job in order to be entitled to legal aid -CSA agreed £5 per week as he's claiming beneifts...you may aswell say no as that doesn't buy a packet of nappies!

When you're on a low income, £5 is worth having.