Credit Crunch is taking its toll

[ILikeMyLife]

Hi

The credit crunch has hit most people, some harder than others.

I have two children from a previous marriage who i pay maintenance for. I know my ex partner has plenty of money and is comfortable with no 'significant' money trouble. I however am scraping by to pay my morgage, tv licence, gas, electric and other things like internet phone etc.

Is it unreasonable to stop paying maintenance so that i can save some money? I know they don't need it and probably only saves it so they can go on expensive holidays, something i can't give my children.

I want to be able to treat my children but at the moment can only afford to take them to the park or play at home with them.

Any advice on what i can do would be gratefully received.

Thanks

I didn't find any.... found some dust tho and a cobweb...

in what way has the credit crunch increased your outgoings?

Ha! I know it's really hard trying to find fun things to do with absolutely no money. (I've been doing it for 8 years with not a penny of maintenance) so I appreciate what you are saying. I've just got back from a cheapy DM token caravan holiday which is why I'm so tired and unable to read properly.

Are you in a position where you could have your children for more of the time? If you shared custody for half the time, then that would change the amount of maintenance due?

It hasn't increased my outgoings, but I don't get overtime like i used to so i dont have as much money coming in.

I recognise this poster.

Op are you the same twunt who started posting about how your dw had died and then said your name was peter sutcliffe or something ridiculous like that?

errrr no......

Dueling - my outgoings on all the basics have increased recently - and I was never e. All groceries and utilities have increased. Cost of travel has increased. Everything really. I was never extravagant or warm in my house and now it's worse.

ah - so with less money coming in your tax will have changed and so there is a chance that the CSA will now lower the amount you hould pay? Have you contacted them?

my overtime was irregular so that never took it into account. So its worked out on my basic wage and tax code

Since when have CSA based your maintenece on Tax Code

listen Mutt, you don't know the circumstances. So before you start shouting your gob off why don't you ask a bit more?

Ask like, if i earn so much why do i have no money?

Well, I £500 mainitenance, £400 rent, £200 pension (so that when i get older i don't have to rely on the state or my children), £400 to a loan which i got to help my ex pay off debt - which she now refuses to contribute to. And amongst other things.... it soon adds up

Oldraver. The work out how much tax you pay, deduct it from your wage and then work out what 15% is

"So before you start shouting your gob off why don't you ask a bit more?"

how to win friends....?

Ah well. My advice stays the same, talk to your ex. Can't offer any more so I am out.

Good luck.

i feel quite sorry for the op. doesn't sound very fair

It is a difficult situation you are in. But would not go cutting CS- to be honest the things that my kids like most doing are mondane but repetitive. The exitment of doing smth special once in a while is good, but "the being there for them" does not happen on taking them to special events once a year. Park trips and home visits are perfect.

Dont feel you have to compete with Ex. Let them be and be the best you can be...

Good catch Mutt. Thanks. CSA calculate 20% of net income (after pention payments) for two children. There are 4 tiers of payment and for payments to be £500 per month the salary has to be pretty high to start with.

£500 per month at 20% of net income ignoring £200 per month pension contribs suggests an annual gross income of somewhere between £40,000 - £45,000. That's a fair chunk of money.

If you really are penniless after paying bills on that level of income then I suggest you look into the budgeting help you can get on the moneysavingexpert website.

Or you can reduce the amount of maintenance you're paying. The CSA will keep track of the shortfall and will get the required level of maintenance, plus the backlog, removed direct from your wages. Your choice.