spyguy Posted April 2, 2014 Report Share Posted April 2, 2014 Anecdotal story about someone I know - FOAF type. Nice girl, could not be less like White Dee - slim, attractive, polite, nice, etc. Knocked up by her soon to be Ex when 19. Now has 16 YO son. She works two low paid jobs: nursery and pub. In summer she switches to more hours at the pub. She works more than 16h minimum despite not getting more money. (Soon to be Ex) Husband is like Andy Capp. As soon as tax credits were sussed, he worked less and less, basically setting himself up as a self-employed guitar teacher. Bought house about 15 years ago. Anyhow, from memory and what I've been told, they were struggling with the mortgage 10 years ago and switched to an IO. Son jacks in college and starts low-paid job. Wham -tax credits stopped. Dead. Down £400 month. Kapow - husband walks out/kicked out. Bang! - house up for sale as they cannot afford even the IO and husband wants his '50%' of about 0 equity. She + kid moves back with parents. Quote Link to post Share on other sites
Killer Bunny Posted April 2, 2014 Report Share Posted April 2, 2014 Point taken. What's FOAF? Quote Link to post Share on other sites
tomandlu Posted April 2, 2014 Report Share Posted April 2, 2014 Bought house about 15 years ago. Anyhow, from memory and what I've been told, they were struggling with the mortgage 10 years ago and switched to an IO. So they bought before the worst of the bubble, and were paying their mortgage during a period of low rates, and they still got into bother, despite most of the income changes coming later? How did they manage that? Quote Link to post Share on other sites
tomandlu Posted April 2, 2014 Report Share Posted April 2, 2014 Point taken. What's FOAF? Friend of a friend. Generally comes from urban legends, as in "this friend of a friend was playing golf when..." Quote Link to post Share on other sites
fluffy666 Posted April 2, 2014 Report Share Posted April 2, 2014 So they bought before the worst of the bubble, and were paying their mortgage during a period of low rates, and they still got into bother, despite most of the income changes coming later? How did they manage that? Quite possible remortgage. But this is the problem that comes from a sustained period of low inflation. You have to earn at the same rate for the life of the mortgage, or close enough. Quote Link to post Share on other sites
@contradevian Posted April 2, 2014 Report Share Posted April 2, 2014 Should never have had a mortgage really. Quote Link to post Share on other sites
Bloo Loo Posted April 2, 2014 Report Share Posted April 2, 2014 Son keeps all his money? Quote Link to post Share on other sites
Eddie_George Posted April 2, 2014 Report Share Posted April 2, 2014 As soon as tax credits were sussed, he worked less and less, basically setting himself up as a self-employed guitar teacher. My God, people certainly know how to work the system, not just the 1% either. Quote Link to post Share on other sites
dances with sheeple Posted April 2, 2014 Report Share Posted April 2, 2014 Point taken. What's FOAF? Guitar chords you play drunk? Quote Link to post Share on other sites
dances with sheeple Posted April 2, 2014 Report Share Posted April 2, 2014 My God, people certainly know how to work the system, not just the 1% either. Quote Link to post Share on other sites
Save me from the madness! Posted April 2, 2014 Report Share Posted April 2, 2014 The problem of shortermist thinking. Quite sad really. It does help to keep you going when you inevitably question yourself of why you bother working so hard to support yourself. Quote Link to post Share on other sites
durhamborn Posted April 2, 2014 Report Share Posted April 2, 2014 This was the great tax credit trap Brown and Labour set.Iv lost count of the people who fell for it.Dropping hours,taking only 16 hour jobs,doing as little as possible.Then the youngest gets to 16/18,all tax credits stop and they find themselves earning £90 a week and the best prospect is £220 a week.Outgoings higher. So Brown bankrupted the country,destroyed wages,bunged people multi thousands of free cash every year only to make sure theyd be in poverty from around 40-68. Tax credits simply delayed poverty and made it worse when it arrived. I know 6 people who have lost their houses now for the very same thing,and dozens coming up to it in panic now.2 of them have got pregnant though just in time,1 the child is due 3 days before she loses tax credits for her youngest now.Shes proud in the pub that she timed it so well. Quote Link to post Share on other sites
Giraffe Posted April 2, 2014 Report Share Posted April 2, 2014 Does it actually pay to pump out kids just for the tax credit? What is the max? £55 per week? But what does it actually cost keep the child per week? would £30 be fair? that's £4.28 per day, seems a bit low even at that. Anyway, that would leave £25 profit per week per child. I suppose that would cover cider and fags for a week! Quote Link to post Share on other sites
longtomsilver2 Posted April 2, 2014 Report Share Posted April 2, 2014 This was the great tax credit trap Brown and Labour set.Iv lost count of the people who fell for it.Dropping hours,taking only 16 hour jobs,doing as little as possible.Then the youngest gets to 16/18,all tax credits stop and they find themselves earning £90 a week and the best prospect is £220 a week.Outgoings higher. So Brown bankrupted the country,destroyed wages,bunged people multi thousands of free cash every year only to make sure theyd be in poverty from around 40-68. Tax credits simply delayed poverty and made it worse when it arrived. I know 6 people who have lost their houses now for the very same thing,and dozens coming up to it in panic now.2 of them have got pregnant though just in time,1 the child is due 3 days before she loses tax credits for her youngest now.Shes proud in the pub that she timed it so well. A few years back now, I worked as an interventionist for Job Centre Plus and was astounded by the number of benefit recipients that timed their last bundle of joy as close to 40-45 it was a blatant play on the system so they could coast to retirement without lifting a finger EVER! Gap between younger and older siblings could literally be generational. Quote Link to post Share on other sites
DeepLurker Posted April 2, 2014 Report Share Posted April 2, 2014 My God, people certainly know how to work the system, not just the 1% either. Blame the system, not the people. Quote Link to post Share on other sites
SarahBell Posted April 2, 2014 Report Share Posted April 2, 2014 A few years back now, I worked as an interventionist for Job Centre Plus and was astounded by the number of benefit recipients that timed their last bundle of joy as close to 40-45 it was a blatant play on the system so they could coast to retirement without lifting a finger EVER! Gap between younger and older siblings could literally be generational. It's harder now. When your kid is 5 you are expected to look for work. (So I understand) Quote Link to post Share on other sites
Eddie_George Posted April 2, 2014 Report Share Posted April 2, 2014 Blame the system, not the people. I know, but some of us are strivers, not shirkers. Quote Link to post Share on other sites
motch Posted April 2, 2014 Report Share Posted April 2, 2014 It's harder now. When your kid is 5 you are expected to look for work. (So I understand) How much would child care be though. Quote Link to post Share on other sites
SarahBell Posted April 2, 2014 Report Share Posted April 2, 2014 How much would child care be though. They can get tax credits for that. It all props itself up. The big thing for tax credits affecting was overtime. No one wanted it anymore. Which in turn meant people couldn't work their way out of a small financial hole. So the pay day loans have flourished. Quote Link to post Share on other sites
motch Posted April 2, 2014 Report Share Posted April 2, 2014 They can get tax credits for that. It all props itself up. The big thing for tax credits affecting was overtime. No one wanted it anymore. Which in turn meant people couldn't work their way out of a small financial hole. So the pay day loans have flourished. I remember a guy I know who worked at one of the main supermarkets had wanted a last minute day off. The boss said it could be arranged if someone else could cover on overtime. Of about 5 people who could/would of covered it they didn't because "they would of been working for nothing" with tax credits involved. Quote Link to post Share on other sites
@contradevian Posted April 2, 2014 Report Share Posted April 2, 2014 (edited) It's harder now. When your kid is 5 you are expected to look for work. (So I understand) Soon to be 3+ years of age. http://aworkingclassman.com/lone-parents-children-3-forced-workfare-scheme/ Edited April 2, 2014 by aSecureTenant Quote Link to post Share on other sites
Goat Posted April 2, 2014 Report Share Posted April 2, 2014 This was the great tax credit trap Brown and Labour set.Iv lost count of the people who fell for it.Dropping hours,taking only 16 hour jobs,doing as little as possible.Then the youngest gets to 16/18,all tax credits stop and they find themselves earning £90 a week and the best prospect is £220 a week.Outgoings higher..... And remember that the kids who are turning 16/18 today were born in 96/98, tax credits in their current form didn't come into existance until 2003. What happens when the current crop of 10 year olds reach maturity god alone knows. Expect to see hundreds of thousands of these cases over the next 10 years. Quote Link to post Share on other sites
Democorruptcy Posted April 2, 2014 Report Share Posted April 2, 2014 This was the great tax credit trap Brown and Labour set.Iv lost count of the people who fell for it.Dropping hours,taking only 16 hour jobs,doing as little as possible.Then the youngest gets to 16/18,all tax credits stop and they find themselves earning £90 a week and the best prospect is £220 a week.Outgoings higher. So Brown bankrupted the country,destroyed wages,bunged people multi thousands of free cash every year only to make sure theyd be in poverty from around 40-68. Tax credits simply delayed poverty and made it worse when it arrived. I know 6 people who have lost their houses now for the very same thing,and dozens coming up to it in panic now.2 of them have got pregnant though just in time,1 the child is due 3 days before she loses tax credits for her youngest now.Shes proud in the pub that she timed it so well. There must be something they could do.... oh look... Number of babies born to women over 50 doubles in four years in UK Experts warn of health risks and pressure on NHS as number of mothers in 40s and 50s continues to rise http://www.theguardian.com/lifeandstyle/2014/mar/31/number-babies-born-women-over-50-doubles-four-years Quote Link to post Share on other sites
SirGaz Posted April 2, 2014 Report Share Posted April 2, 2014 I always wondered why a lot of the girls I went to school with seemed to go through a pregnancy boom a couple of years ago. Quite often you have uncles and aunts that are younger then their nephews and nieces. Quote Link to post Share on other sites
motch Posted April 2, 2014 Report Share Posted April 2, 2014 Soon to be 3+ years of age. http://aworkingclass...orkfare-scheme/ I know the Royal Mail operation are looking at Mums to deliver between school times. Quote Link to post Share on other sites
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