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where do i stand

  • richard7467
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05 Sep 12 #354097 by richard7467
Topic started by richard7467
My marriage has been on the rocks and heading for divorce

If my wife remained in our house with our 3yo twins how much would i have to pay out im soon to be leaving he armed forces and entitled to an immediate pension working out at about £340 per month after tax and a tax free lump sum of £30000

Bearing in mind i couldnt afford my own place and all the bills/mortgage/creditcard payments/loans etc are all paid by me and takes ALL of my wages leaving me with nothing.
Some advice eplease im at my wits end obviously i want to contribute to my childrens up keep but surely i still need to have some money so i can getmy own place and feed and cloth myself help please ps my wife hardly ever works

  • LittleMrMike
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06 Sep 12 #354116 by LittleMrMike
Reply from LittleMrMike
Richard, I would say you have two problems here.

The first is your income. You have £340 a month, not a lot, to say the least. You have a tax free lump sum.

The second is that you seem to have a lot of debt, though you don''t say how much.

Your immediate priority after leaving the Forces has to be where you live.

With an income like you have you would not be able to afford to rent, therefore, you will almost certainly have to rely on housing benefit. However, as I see it, you also have a debt management problem - how serious I do not know without further information.

Whatever happens you will have to pay child support for your children but owing to your low income, this is likely to be set at a fairly nominal level, perhaps £5 a week.

So the first and obvious question has to be, can you get a job ? I''d have thought that there would be help for people leaving the Forces to secure civilian employment.

The likelihood is that your wife will make a claim against your lump sum. However, for reasons I shall describe, this may not be quite as serious for you as you might think.

The first reason is that - on the face of it - you should have enough to clear your debts. The second is this : you will need some of that cash for a rental deposit and essential furniture and all the other gubbins you need to set up home. Reasonable enough. But if you have capital over £16,000 ( I think that is still the current figure ) it will disqualify you from housing benefit - in other words, you have to use your capital to pay your rent. That is exactly the objective this provision was introduced to achieve.

I think in your position, my first port of call would be a Forces Charity like SSAFA. They have extensive experience in this type of problem. What I have outlined is what my general approach would be, but this forum is not really geared up for this kind of intensive advice.

LMM

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