SOA - Help Please!

Sparkles87

sanfrancisco wrote: »

You sound like you are trying really hard. It is stressful. Keep going though.

You need more information. Even though the house situation is galling and complicated sometimes it is just worth extracting yourself and starting afresh. If you can walk away with £4k then that is a positive. Before you default get exact figures from everyone. The mortgage loan people etc. when you go back to work will your income increase?

How would that situation look? Don't default on anything, increase income. Could you be debt free in 2 years and this is the key with an intact credit score? You could then spend 2 years saving and start again but tota-lly in control.

I worried that your husband is not on board. He needs to stop spending and work as a team. It's s but !!!! having no money, but very !!!! when your in a marriage with both pulling in opposite directions.

Thanks, I really am trying, I've got my debt down from 5k to the 2k outstanding in a year on a very low income by selling, cutting back and following all the MSE rules I know.

I don't think my income will increase dramatically when I first return to work, I'll be lucky to clear the £500 to be honest after paying out two lots of childcare. I'm looking at expanding my self employed work as I think that's the only way I'm going to make anything additionally except working nights which is difficult with a young family.

My credit rating is quite poor, about 500, even without any missed payments, I think it's because of the amount owing and I'm not registered on the electrol roll at the moment. But nearly everything is 0%. It's such a difficult call when he's just not on board, even after two years of trying to pay things off.

tallyhoh

Sparkles87 wrote: »

Thanks, I really am trying, I've got my debt down from 5k to the 2k outstanding in a year on a very low income by selling, cutting back and following all the MSE rules I know.

I don't think my income will increase dramatically when I first return to work, I'll be lucky to clear the £500 to be honest after paying out two lots of childcare. I'm looking at expanding my self employed work as I think that's the only way I'm going to make anything additionally except working nights which is difficult with a young family.

My credit rating is quite poor, about 500, even without any missed payments, I think it's because of the amount owing and I'm not registered on the electrol roll at the moment. But nearly everything is 0%. It's such a difficult call when he's just not on board, even after two years of trying to pay things off.

Thought of taking a career change & becoming a childminder?

Sparkles87

tallyhoh wrote: »

Thought of taking a career change & becoming a childminder?

Definitely! I'd love to and my work background lends itself well, it's just having a suitable property!

Sparkles87

Update...

We're were given the chance to leave the rental property without penalty so that's what we've done. That has meant that OH's outgoings have dropped to £600 a month, which his budget JUST allows. Whether this gives us enough breathing room to get through until October, only time will tell.

HappyMJ

Sparkles87 wrote: »

Update...

We're were given the chance to leave the rental property without penalty so that's what we've done. That has meant that OH's outgoings have dropped to £600 a month, which his budget JUST allows. Whether this gives us enough breathing room to get through until October, only time will tell.

How much are you now paying in rent?

Sparkles87

He is paying £600 all in (just has to buy food) so £431 less on bills alone and fuel costs will drop significantly as he can walk to work.

I'm paying nothing as I have no money to pay, I'm back at my parents with my LO, we've separated again due to this financial situation and other factors

HappyMJ

Sparkles87 wrote: »

He is paying £600 all in (just has to buy food) so £431 less on bills alone and fuel costs will drop significantly as he can walk to work.

I'm paying nothing as I have no money to pay, I'm back at my parents with my LO, we've separated again due to this financial situation and other factors

Sorry to hear that. You did have room in your SOA to manage this cash flow problem and that's all I ever saw it as.

Are you now able to claim tax credits? Is your partner now paying you an amount of child support every week/month?

You do earn £630 per month...that's not nothing but if your parents are willing to have you and your LO for nothing then that's OK but I would try and pay them something voluntarily....even though you have debts to pay off you are costing your parents money by staying and you shouldn't expect them to support your LO even if that support is indirectly. The household bills will increase by you staying there so I'd offer no less than £50 per week maybe more.

Sparkles87

The £630 a month is maternity allowance which starts in October.

Currently I have nothing except Child Benefit. Tax Credits claim has been put in but may take up to six weeks to get a payment.

I will definitely be paying for food and board as soon as I can, but £82 four-weekly will not pay for much this month.

He isn't paying child support as there's no budget to do it.

HappyMJ

Sparkles87 wrote: »

The £630 a month is maternity allowance which starts in October.

Currently I have nothing except Child Benefit. Tax Credits claim has been put in but may take up to six weeks to get a payment.

I will definitely be paying for food and board as soon as I can, but £82 four-weekly will not pay for much this month.

He isn't paying child support as there's no budget to do it.

Having no budget is not an excuse to not pay child support. He should be giving you a portion of his income. He earns more than enough money to pay it and by your own admission now only has £600 a month expenses. His debts can wait the support of the child you have together comes first.

Sparkles87

That's true but he's paying money off my credit cards which he owes but legally is my debt so I'm afraid to push for more than that.
If I go down the dmp route then I'll certainly be separating off money as maintenance