Financial control by the adoption agency?

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What are the criteria to evaluate adoption agencies to use (in Britain), if you would accept? My partner and I have a fairly large amount of debt with our mortgages, loans, student loans and 2 credit cards. However, we never missed a payment and not fighting for money. We all relevant payments on a monthly basis and still have money left over, we saved for things to Maternity / Baby. During the 2.5 years we have tried to understand many of our friends and family had become pregnant and their children, and most of them were in the thing for us when we finally held a child. We have already stroller, crib, changing table, etc. (even if we always choose and buy as many of our own affairs). So they base their decisions on the level of debt, or the amount of actual cash that we have? We have good job security, I am an accountant and works in IT.Auch how long you were on the waiting list for the time before you have your child? and in which sector of the UK are you?

  1. Reply
    May 2, 2011 at 4:35 am

    I haven’t adopted but it shouldn’t matter that you’re paying off debts. What’s more important is that you’re managing your money, have a home, jobs and can still afford to raise a child.

    How long you’re on the waiting list depends on what age group you want to adopt from and if you’re willing to adopt a sibling group. For example the wait is longer if you only want to adopt a baby, which it sounds like you do, whereas if you’re prepared to adopt an older child from the age of 2 + it’s probably a bit quicker, 4 – 5 + the same.

  2. Reply
    May 2, 2011 at 4:51 am

    Quoting from the Staffordshire site: “Finances

    We will look with you, at your financial situation to ensure that you are financially secure to take on the additional expenses of having a child or children. A financial assessment will be part of the overall assessment.”

    Not an awful lot of use really, but I think that Pip’s right and it’s more about how you’re managing your money rather than the fact that you have (let’s face it) the ‘usual’ debts that tale a damn long time to pay off (unless you’r raking it in) such as Student Loans and a mortgage.

    Quote taken from

    ETA: Just found the following at

    “Finances You do not need to be wealthy or a homeowner to adopt, but will need to give details of income and explain how you would support a child. You must have adequate space to cater for the needs of the child and, depending on your circumstances, may be eligible for financial support from the local authority, reviewed annually. You can also apply for means tested benefits and tax credits like any other family.”

  3. Reply
    Jennifer L
    May 2, 2011 at 4:54 am

    We had to prepare documents that went over our debt to income ratio. I can’t remember exactly what it was called, but the amount of “bad debt” (read: Credit Cards, not things like mortgage or student loans) could not exceed a certain percentage of our income, regardless of payment history.

    This is in the US though and it may not even be applied to all US adoptions.

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