Hello world…time for me to pull my finger out.

Hello world…as all wordpress blogs must start.

I am a father of four, benefits officer and private landlord. By 2017 I face the very real prospect of being out of work and receiving no financial aid from the state.

In 2006 I bought a flat for my wife and my stepson to live in. One child became 2 which became three and then 4 very quickly. The flat dropped into negative equity which led to me becoming a private landlord and renting a house to live in.

I have spent the last 4 years sending every spare penny I have into the flat and am delighted to be out of negative equity. However under the Universal Credit rules I will not qualify for any state assistance as I now have capital of over £16000,00. This is fair enough but it is frightening. No more child benefit (£240.00 per month) no more tax credits (£780.00 every four weeks) and no more Housing Benefit (£400.00 per month). That’s a cool £1485.00 per month gone if I still have a job. When my job eventually goes I will receive a redundancy payment but no Universal Credit.

Most blogs from people effected by welfare reform who start blogs spend a lot of time criticizing the world around them but spend little time looking at themselves. My situation has been caused by bad financial decisions.  I’m not going to moan. Life and the state have been good to me. I will get out of this but it will be hard.

A few stats as of 19/06/13

Mortgage £101,000.00 outstanding. Flat is currently empty.

Credit Cards  £1200.00

Overdraft – £2700.00

I am at a crossroad. Do I give up and sell the flat or do I work hard, take a few chances and try to come out of this better educated, healthier and richer. I won’t be happier. My life as it is now is perfect.

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