She works part time (can't increase hours) and has just split up with her OH. I know this is very stressful for her - I get it. I've been there myself.
I've been trying to help her, from another country away (I emigrated) sort her shit out. She's in the UK. Will get maintanence/small amount of tax credits and child benefit. We've worked out that after rent after school club (for her child) and her other essential expenses (but not food) she'll be left with circa £175 per week. Which is obviously more than some people have!
However, her issue is that she has debts. The repayments are £150 per week. But she won't entertain going to a financial help service ie, stepchange, nor negotiating a lower repayment until her circumstances change. The reason?
She was hoping to buy a house in 2yrs time and is worried she won't get a mortgage.
My bread and butter is financial services. I know full well she hasn't a chance at a mortgage right now or in 2yrs time. Imo she needs to get solid financial advice from the likes of stepchange or find another way to negotiate the payments down. I've even offered my help in writing a letter/email and doing it herself if she feels too ashamed to go to stepchange. But she won't do it as she wants to repair her credit. But she can't live like this,
One week of her ex not paying maintenance (of 25 a week) and she can't feed herself or her child. An unexpected expense and she can't feed herself or her child. Or she will default which will further hurt her credit anyway!
What she needs to do, in my personal and professional opinion is sort out getting the repayments down, clear off the debts then get a small loan or credit card and pay it off in full at the scheduled times (or each month in the case of a credit card) possibly even a dedicated credit builder card. But that's further down the road.
I also don't know how she proposes to save for a mortgage with £25 a week left to feed herself and her son.
Aibu?
She's asked for my help with this yet is ignoring everything I say on the subject because I can't magic up thousands of pounds and fix her credit report overnight.
Please or to access all these features
Please
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AIBU?
Aibu regarding sisters finances?
41 replies
CactusJelly00 · 22/10/2017 08:01
OP posts:
Anecdoche ·
22/10/2017 09:38
This reply has been deleted
Message withdrawn at poster's request.
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