Re: Long term disability & finance problems

0700-Vans wrote:
My sister has been in hospital for the last eighteen weeks and is
likely to be in there for at least that amount of time again.

So far her problems have all been health related, but with so long off
work it's clear that financial problems are now on the horizon.

To date, her employer has been paying her full pay but that's about to
come to an end. I assume that she may get some further help from work
albeit at a reduced rate, and again it cannot last, particularly as
it's unlikely that she can ever return to that job.

Her husband is in full time employment, and they have a mortgage on
their ex-council house, and this is where I would appreciate some
feedback.

My personal thoughts are that they have little or no equity, and I
wouldn't be surprised if they are currently in negative equity because
of loans that they took out for home improvements that realisticly add
no real value.

We've already discussed putting the house on the market, but what I
would like to know is what the attitude of the mortager is likely to
be with a reduced ability to repay?

Also, although I'm sure that they won't qualify for any financial
assistance while she's in hospital, I would appreciate any thoughts on
that subject too.

When work pay runs out, she might be able to get statutory sick pay. Then
after a while, incapacity benefit.
Not a massive amount, but can help.

Depending on total household income, could be eligible for working tax
credit. Though the sick pay or incapacity benefit are income for tax credit
purposes.

Can her employer find her something else in the company she can do? Or
something with the hours she can work once out of hospital?

Mortgage lenders tend to take a dim view of arrears, they insist they get
their money before all unsecured debts are paid a penny.
Might be worth husband having a word with the consumer credit counselling
service, a charity that can if necessary negotiate with unsecured creditors
and draw up a budget plan.
www.cccs.co.uk - they don't charge for their services to the user.

Martin <><


.

Relevant Pages

  • Re: Need help with a tracking table design
    ... tenant has been here before then we use existing.) ... RentRate (current at the time of this payment as it is subject to change) ... ChgAmt (amount of charge) ... Over Payment of course gives a credit but is not the ...
    (microsoft.public.access.gettingstarted)
  • Re: Issues: A Question Of Integrity (was: Issues)
    ... >>> debit or it represents a CREDIT for Hamilton's only proactive actor. ... Therefore we can regard -c as the amount ... > mathematics knows is that $50 moved SOMEWHERE. ...
    (sci.bio.evolution)
  • Re: more on A + B
    ... There is no need to calculate the *precise* amount at ... with real production, so we have the trade-off we ... If the ratio of B is increasing to A, ... Credit Authority. ...
    (sci.econ)
  • Re: Group Total REPOST
    ... If Complete = 1 then the Amount column holds the completed ... If Credit = 1, then the Amount column holds the credit ... >> Duane Hookom ... >>> I have a report that shows us credit card transactions grouped by ...
    (microsoft.public.access.reports)