SOA/ budget

kimplus8

Niv wrote: »

You look like you are pretty much to the bone, there does not look like there is much fat there. The only thing I can think of is to ask what sort of pay-out does your life insurance give? I know for instance some have life insurance to pay off the mortgage upon a sudden death, but as you rent it cant be that, so is it a pay-out that is worth it etc?

the payout is £250,000 upon my death so the kids could buy a house and have that security.
sadly im worth more dead than I am alive.

Oakdene

He must be quite a low earner to only be paying £131 a month CM for 8 children.

kimplus8

nannytone wrote: »

im not convinced your benefits are correct.

how many children do you claim child tax credits for?
how many children to you claim child benefit for?
how much housing benefit do you receive?
how much council tax do you receive?
what benefit are you claiming for yourself?

they are correct, benefit cap is £1666 (£20,000) a year so that is the max for me.

kimplus8

Grumpelstiltskin wrote: »

Kim Have you actually gone bankrupt?

I'm not an expert but surely your gas and water arrears should be included in the bankruptcy and you should just be paying current bills. Check this out.

that's right Grumple :-)
im on key meters so ive just sent them my bankruptcy order so they can take the debt off but its not immediate as they have to process that.

ReadingTim

kimplus8 wrote: »

That is the 'other income' however its about to go to the appeals court as he is hiding income.

ah - understood. You might want to edit your SOA to state it's child maintenance so others don't make the same comment.

The point about increasing employment-related income remains though....

kimplus8

EssexHebridean wrote: »

How old are your children? Are you far off having all 8 at school so you can get back out to work? Are the older ones approaching an age where they can make their own way to school to save you the drop off?

Is the "other income" you show a contribution from the children's father? And have you checked that you're claiming everything you can possibly be entitled to - Housing Benefit etc?

Bottom line is that there isn't a great deal there for cutting back, so you have to increase income by some means. Have you thought about an Avon round or similar? It won't make your fortune but to be honest anything would help.

hi essex
yes that 'other income' is child maintenance.
I currently have 4 at school and 4 nursery/preschool age so by the time I take childcare into account (which is capped at 2 kids) I would be far worse off.
however I am starting 2 training courses in September through my local 'back to work' scheme, I hope to find a job through this.
Plus I was just diagnosed with bi-polar this year so while all my medication is being adjusted its best I give myself until September to know im not going to be rocking in a corner at a job.
I have just applied to be a neals yard rep to try and get some Christmas money, I know it wont make me a fortune but will add some to my income.

kimplus8

ethranes wrote: »

Your internet can come down at least £10 a month, check websites like uswitch.com

thanks, im tied into contract with virgin and the BT line in this house was cut off at the wall outside by previous owner so would have to pay for an engineer to sort that which makes it more expensive than paying virgin.
great advice tho :-)

kimplus8

National_Debtline wrote: »

Hi Kim,


I agree with nannytone that your income/benefits don't look quite right. If you are claiming child benefit for all 8 children that would be £116.60 per week (or £505pcm). Child tax credits would also normally be quite high because of the children and I would expect you to have either JSA, ESA or Income Support for yourself, if you are not working, which would be approximately another £73 per week (or £316pcm), so something is not quite adding up.

You can do a benefit check online at www.turn2us.org.uk (but there are lots of sites to choose from). If you post a few more details (like the children's ages) then there may be more information other posters can offer.


Laura
@natdebtline

Thanks Laura,
as I said to another poster, I am subject to the benefit cap, so the max I am allowed is £20,000 per year or £1666 per calendar month :-)

kimplus8

ReadingTim wrote: »

ah - understood. You might want to edit your SOA to state it's child maintenance so others don't make the same comment.

The point about increasing employment-related income remains though....

yup- im on it, thanks :-)

kimplus8

Oakdene wrote: »

He must be quite a low earner to only be paying £131 a month CM for 8 children.

as ive said above, im on way to appeals court as he has hidden income and I have appealed their original decision.