Going Solo

Musclechic · 4 July 2012 at 8:18PM

It is my intention to leave an unworkable marriage at the end of July.

I have three children aged 16, 13 and 9 two of whom have special needs and are classed as disabled one child still receives DLA the other DLA payments have recently ceased.

I work part-time receive child tax credits and child benefit but also the child tax credits have been reduced effectively taking income down by just over £300.00 per month.

I also have ammassed a considerable personal debt of around 20,000 through previous consolidation of debts and supporting my family.

My husband only pays for the mortgage and half the council tax. (£950.00) He spends the rest of his income (£500.00pm) on his motorcycles and servicing his own debts he has accrued. I pay ALL the utility bills, life insurance, buildings and contents insurance, telephone, broadband bt vision, clothing, kids mobile phones, food, simply health insurance etc....MY total outgoings amount to about £1700.00 but with the drop in income I am now struggling.

To date I have kept up with all the payments to the two loans and credit cards. As a future single parent what can I do to ease the debt burden during what will be a very difficult time.

It is not my intention to leave the property as it will completely upset my two (disabled) autistic kids. Selling this house would not be an option.

Please advise as to what I should do next.

sistafromanothermista · 4 July 2012 at 8:51PM

Musclechic wrote: »

It is my intention to leave an unworkable marriage at the end of July.

I have three children aged 16, 13 and 9 two of whom have special needs and are classed as disabled one child still receives DLA the other DLA payments have recently ceased.

I work part-time receive child tax credits and child benefit but also the child tax credits have been reduced effectively taking income down by just over £300.00 per month.

I also have ammassed a considerable personal debt of around 20,000 through previous consolidation of debts and supporting my family.

My husband only pays for the mortgage and half the council tax. (£950.00) He spends the rest of his income (£500.00pm) on his motorcycles and servicing his own debts he has accrued. I pay ALL the utility bills, life insurance, buildings and contents insurance, telephone, broadband bt vision, clothing, kids mobile phones, food, simply health insurance etc....MY total outgoings amount to about £1700.00 but with the drop in income I am now struggling.

To date I have kept up with all the payments to the two loans and credit cards. As a future single parent what can I do to ease the debt burden during what will be a very difficult time.

It is not my intention to leave the property as it will completely upset my two (disabled) autistic kids. Selling this house would not be an option.

Please advise as to what I should do next.

Firstly

for coming here and asking for help.Next post up an SOA (on sticky under newbie thread at top of board) and we will see if anything sticks out as a potential bill you can save on.

amyloofoo · 4 July 2012 at 9:02PM

I agree with Sista above. Completing an SOA will allow people to help you with your budget and see if there's anywhere that savings can be made. I know it's a bit daunting, but it's definitely helpful and means that people can give you more tailored advice.

Musclechic · 5 July 2012 at 8:46PM

I am sure its obvious but what is an SOA?

Barbeduk · 5 July 2012 at 8:49PM

Statement of affairs, to log all your income, outgoings and debt (with apr). Basically it shows whether you live within your means and whether any savings can be made to help repay debts.