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Topic starter
11/07/2012 7:20 pm
I have just found out, while renewing my tax credits that I will be loosing all of this one benefit I get. As from April of this year if you only have 1 child to claim for and earn over £26,000 you no longer qualify for tax credits. So because my eldest child (who is still in full time education) has turned 20 and I earn a couple of £100 over that limit I now loose £120 a month. As many, many people on this site I am are trying to do the right thing by sorting out debt, that wasn't totally my fault, I cannot believe how this is going to affect me.
I work so hard to make payments, work 10 hour shift, I hardly ever spend time with the boys, we have had no holiday for 3 years, we can't afford any extras, evven new shoes for the growing boy are a problem and simply because i cross a threshold set by people sat in a government office I am loosing this very important money. I also do not qualify for any other help simply because I work as hard as I do.
I have no idea what I'm going to do now!!! I'm hope my trust deed people will allow me to reduce but this extends everything for all. All my bills have gone up and now this, I just can't tell you how upset I am.
This rant is by no means a reflextion of trust deeds at all, they are a fantastic way of trying to get straight again and I am thankful i have one, but all the pressure of trying to do the right thing is negated by how the system is against those of us trying to do the right thing.
I just think I should give up my job and embrace the welfare state!!! it's totally soul destroying to be in this position.
Rachel:)
11/07/2012 9:59 pm
Hi Rachel.
I fear this is going to be a problem and a frustration for many people that are in trust deeds.
Contact your trustee, I think many firms may take the view that a change like this which is outwith your control is something that you should not be penalised for.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
11/07/2012 10:53 pm
Thanks TDA, I,m sure that my trust deed people will sort something, I think what is most upsetting is the injustice of the system. It seems the harder you work the less help or even just a small break you get.
Truely, if i was to stop working like i do to try to pay back what i owe, then i would be rewarded with tax payers money!! Get my rent paid, get free school stuff an all the rest.
I am truely depressed with this system.
I want to pay what I owe but the system is against those who are honest, hard working, truthful, responsible and with moral fibre.
Rachel:)
12/07/2012 9:56 pm
We too have lost out this benefit altogether!!!
Boo hiss.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
13/07/2012 10:04 pm
Hi Rach68
Youre not alone. We've lost £280 a month because of this and are completely struggling. I have 10 TD payments left to make, and if we reduce our payments then the TD will run for longer and we dont want this, so are completely struggling to make ends meet every month.
Like you we havent had any holidays for 6 years now and my oldest child is 20 now too. I feel like our children will be grown up by the time we can afford to give them a childhood, it'll all be too late.
We ended up in debt because my husband went to college and then onto University to better his prospects as he applied for over 200 jobs and was unsuccessful due to about 50 applicants applying for each job in our home town. While studying he received no maintenance or loan payments during the summer months - June til September - to keep us afloat, therefore we had to resort to credit cards to pay mortgage and bills, leaving us deeper and deeper in debt. This is why we turned to a TD to try and get out of this situation.
I would be better off not working and claiming tax credits on my husbands job alone, but I want to work, and I want my children to know ive worked to give them things and not been handed it on a plate from the state.
Meanwhile there are housing association houses just built nearby and the houses are being handed to people who've never done a days work in their lives, as if youre an alcoholic/junkie, then your medical points will get you a house quicker than someone who's worked hard all their days. Brand new houses, with driveways and landscaped gardens. And we're struggling to pay our mortgage while we both have jobs. It's just all so wrong.
