Partner earning less than 8k but has debts of 18k - please help.

Candyapple

foolofbeans wrote: »

The usual way to deal with outgoings more than your incomings is to either reduce your expenses or increase your income. It seems a no-brainer to me that your partner needs to get a full-time job and work his OU studies around that. OU designs its courses for working people and many manage to get their degree while working. If you have no caring responsibilities then there is no reason not to be able to study after work.
Has he ever worked out how much it actually costs him in petrol for his takeaway job as it looks like he is earning about £4.40 an hour and it may not be worth running a car for this amount.

Added to this, does your partner have the proper car insurance to cover this job?

It is often assumed that food delivery drivers will obtain their own insurance when using their own vehicle for deliveries. However, standard private motor insurance policies do not normally cover the drivers’ business use of their vehicles — typically they will only provide cover for social, domestic and pleasure use. However, even if the driver requests a business use extension on their policy, the stated business use may not cover fast food delivery.

So on top of working for a pittance, he could very well be negating his insurance which he would be in for a shock should he be involved in an accident whilst working.

Have a read of this thread:
https://forums.moneysavingexpert.com/discussion/3960077

I think your partner needs to re-think his situation. He has debts and needs to pay them. It's all well and good he is trying to better himself by doing an OU course, but this is at detriment to you.

Although you say you are happy funding his lifestyle now for the next 6 years minimum, as others have stated, whilst he may end up with a degree in 6 years' time, he will also be 6 years older (at a guess I'm assuming he'll be early 30s) and competing against all the 21 year olds fresh out of uni who will be applying for graduate schemes and who probably also had jobs alongside their degree/work experience in their field whilst your partner presumably will still be slaving away doing domestic cleaning/driving jobs; they will have a massive advantage over him. What happens if with his degree he only manages to get entry level IT jobs circa £11k salaries? Or he doesn't manage to find a job in his field for say a further 2 years? Or if he changes his mind/gets bored of the course a couple of years in? Or if you have kids in those 6 years?

If he wants to do an OU course he should find a full-time job and manage his time better so that he can fit in his study around it. If he can't, then perhaps he should focus on getting a better job now whether that be in personal training again or another field full-time and when his debts are more manageable or he's cleared them, then think about re-applying for the OU course.

lynz68

One full-time job is surely better than 3 part-time jobs less running around for a start. It's perfectly possible to work 40+ hrs a week and do an OU degree. I work 48hrs and managed to finish my degree last year.

6yrs is a long time to support someone financially none of us know what is around the corner. What if you lost your job for instance how would you both cope then?

There is no guarantee he will get a job in that field straight away either so you could be supporting him for a lot longer.

Puddylove

You are not going to like this, but...your partner needs to get a grip and stop being so lazy and entitled. Most OU students study over 6 years - most have FT jobs, many have children or are carers as well.

If he really plans to sit back and let you support him for 6 years, turning down work which 'wasn't for him' while owing £18k...isn't he ashamed?

I would be.

I don't know you, OP, but you are worth much more than this.

esmy

Full time job, 35-40 hours per week over 5 days leaves him time at the end of each day and all his 2 days off to study. He could possibly keep his weekend delivery jobs too for extra cash. He'll be able to sort his debts AND contribute to household expenses.

[Deleted User]

lacoste1985 wrote: »

just to bring this thread back to its intended purpose, i came on here for some financial advice about which card he should pay back first, pros and cons of DMPs etc etc....

A DMP isn't available on demand, it's actually whether it is affordable at the time.

First debt to pay is that of the highest interest.

Having duluded myself once with a 30 hour week job, when it was ill affordable it can get quite unpleasant very easily so I wish you every strength x

sourcrates

I have to second the Bankrupcy option.

He sounds the ideal candidate, no assets, minimal income, he'd be discharged in a year.
In England and Wales bankruptcy fees total £705. You pay a £180 fee to the court and £525 to the official receiver. If you have a low income or receive benefits you may be exempt from the court fee, allowing you to go bankrupt for £525.

I doubt an IPA (income payment arrangement) would be granted, due to his income, so all debts wiped in 12 months, and no payments to make, 5 years after that, a clean credit file.

timefortea

Is there any reason why your partner hasn't considered studying full time for a degree? The maximum Maintenance Loan available for 2016 entry is £8,200 per year, depending on household income, and he might get an additional bursary. He could supplement that with a part time job.

Tjh1412

Does he not get any maintenance as loan,as this is available for part time courses now

Tjh1412

Also would he not be better off doing the degree full time getting the maximum maintenance and keeping the cleaning job,thus would allow him to pull in more money plus he may be eligible for bursary etc on top

andyfromotley

Hi Lacoste,

crikey you have had a bit of a rough time on this thread, but that is because we are struggling to find any empathy with your OH. I get that he is not lazy, he works a variety of jobs, hours etc. However he is a little relaxed about about this situation, He could easily fit in studying around a full time job, i am at uni at the mo on a full time course with other mature students, some of them are running a full time job alongside their full time uni course and looking after kids. He could easily do 2-3 per night/early morning study, i think thats what some of us are strugging with .

Another sticking point is if he cant manage this then his plan doesnt stack up, he has debts, they need paying off and he needss to work to do that. I would much prefer him to have worked a full time job AND his part time jobs for a year or two in order to pay his debts then go to uni perhaps full time. Life has to be planned and these plans are often shaped by our financial situation. I for example would very much like to travel the world watching sporting events, preferably in a camper van, however i havent earned enough to do that so its not happening. For me to just do it regardless would be a tad irresponsible and a little entitled.

On a final note and i may be well off the mark here, its interesting that they are his debts and yet its you that is posting here. Clearly he is kind of looking to you for financial support, in general this is ok because thats what happens in relationships nut there is always a line beyond which someone is just taking the mick out of their other half.

I'm not having a go at you in any way, but i do find your fellas attitude very exasperating!