Self employed, big drop in income - can I claim any benefits?

thinkpositive1

I have been self employed for over 12 years, worked my backside off and generated a reasonable income over most years.

The past 2 to 3 years have been much harder to get fee paying work and my drawings from business income are about 35-40% of what they used to be.

I have fallen behind with payments (mortgage arrears and others) and I am 3 years into an IVA but struggling to keep that going.

My mortgage lender asked me if I could claim benefits (working tax credits?). I have never claimed for anything and hadn't considered this as an option.

I will check with DWP but wondered if anyone here could give me a quick pointer to the likelihood of me being eligible for any benefits?

I have no kids but live with my partner and she has a child from previous relationship.

Indie_Kid

Depending on your income and that of your partner, you may be able to claim - working and /or child tax credits and /or council tax support.

thinkpositive1

Thanks Indie

Is there a threshold for income below which this kicks in?

Sorry if that's a dumb question but benefits and eligibility is a whole new area to me!

skivenov

£18k profit as a single person, can't remember the number for a couple.

nannytone_2

its around 18k dor a couple. more like 12k for a single person.
for child tax credit it 26 for a houshold

BigAunty

thinkpositive1 wrote: »

I have fallen behind with payments (mortgage arrears and others) and I am 3 years into an IVA but struggling to keep that going.

My mortgage lender asked me if I could claim benefits (working tax credits?). I have never claimed for anything and hadn't considered this as an option.

.

See the Shelter website for helpful information on how to deal with mortgage arrears and prevent repossession.

The Debt free wanabee forum members can perhaps help you come up with a better strategy for dealing with debts or getting them written off - your mortgage is a priority one to tackle.

The Turn2us online benefit checker will help you identify any benefit entitlements.

You will also find the MSE budget planner very helpful to produce a baseline from which you can explore the site with a view to slashing expenses, such as the cheapest energy/insurance/telecoms/groceries, etc.

Is your partner in the position to find employment/better paid employment in case you have no luck with increasing your income through benefits or decreasing expenditure?