Not eligable for benefits

chequebook_lil

I was made redundant 1 month ago due to the company going bankrupt. I applied for jobseekers allowance, went to sign on, kept checking my bank account - no money. I am single (divorced) renting a room as I can't afford to have my own house yet. I have savings over 16,000 which is the payout from my divorce which I am hoping to use as a deposit for a house eventually! I was informed today that I am not eligable for benefits. Do I have to spend all my savings before I get any help? I am 51 which doesn't help when applying for a job and a mortgage, especially these days, but I'm having to use my savings to live and what happens when they are gone???? Cardboard box or park bench???

Debt_Free_Chick

Unfortunately, savings are deemed to be used "to live" when times get tough.

gizmo111

If you can prove the money is earmarked for house purchase then it may be disregarded for 26 weeks. Have a read here page 95 onwards.

zappster1966

Gizmo is absolutely right. You need to tell the DWP urgently that you've earmarked the funds for a property purchase ... and they'll ignore it for 6 months, possibly longer too in my experience, depending on the merits of the case.

savemoney

Duplicate post by the OP

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/BenefitsTaxCreditsAndOtherSupport/Employedorlookingforwork/DG_10018757

You'll get less if you have savings over £6,000. If you have savings over £16,000 you probably won't qualify.
If your partner or civil partner works 24 hours or more a week on average, you can't usually get income-based JSA (contribution-based JSA isn't affected). If they work less than 24 hours, it may affect how much you get.