Finances

[lilymty]

Hi every one,
My Dh and I are going to an opening evening next week. I was just wondering at what point they ask to look at your finances. I have abit of debt but after I'm coming into a large amount of money in November which will pay everything off. Is it best to wait till then and then start the process? Wondered if they asked for the information in stage 1, stage 2 or at 1st home visit? Thanks

Is it best to wait till then and then start the process?

Nope. Crack on with it.

Debt itself is no barrier to adoption. You simply need to to be able to afford a child.

They gather info in stage one, but that info is then discussed/amended as part of stage 2. If the amount you are getting changes the issue, then it will be revisited at the time. Your actual finances don't go into the final report.

Agree with Don, crack on!

We submitted basic info on our finances as part of stage 1, went into further detail in stage 2. For what it's worth I'm about £10k in debt (not including student loans) but because my monthly payments are manageable it wasn't an issue in the slightest. I remember how stressed it made me though - it was the only part of the entire process I didn't enjoy.

Thanks both. Think I'm just worried about the whole process and them finding something that would make us unsuitable.

Also, they don't check credit reports or anything even at panel/matching stage, just rely on full disclosure. Direct lies would be unwise but you can ensure you only tell them what you want them to know finance wise.

My OH had a £13k debit, but as it was manageable and he could show when it would be paid off, and also how much disposable income we had left at the end of each month, it was never raised as an issue.

We were matched with a 6 month old, 2 weeks after approval.