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Advice Please
belfez
Posts: 15 Forumite
Hi,
I became ill at work & signed on for Incapacity Benefit & was later "medically retired" & got a pension.The nature of the illness meant I qualified for higher rate of D.L.A.;as it is a life limiting condition. I own my own house but it is soon to be vested & demolished. Should I advance sell to the Housing Authority, take what they offer & be homeless, or stay on & start paying rent on what was my house, until thay decant me somewhere else? I will not then qualify for Housing Benefit & will have to pay this out of the amount I receive for my house, the amount I receive will not be sufficient to buy another property & will dwindle every time rent is then due. Also , will the amount I receive disqualify me from Incapacity Benefit? if so, I will then have to pay my living costs out of the now dwindling amount also.
What are my options?
What should I then do with majority of the payment received from the house sale?
ISA?, High Interest Rate Account?
or travel around the World til the funds run out?
This is a very stressful situation to be in & I would appreciate any suggestions.
Thanks
Belfez
I became ill at work & signed on for Incapacity Benefit & was later "medically retired" & got a pension.The nature of the illness meant I qualified for higher rate of D.L.A.;as it is a life limiting condition. I own my own house but it is soon to be vested & demolished. Should I advance sell to the Housing Authority, take what they offer & be homeless, or stay on & start paying rent on what was my house, until thay decant me somewhere else? I will not then qualify for Housing Benefit & will have to pay this out of the amount I receive for my house, the amount I receive will not be sufficient to buy another property & will dwindle every time rent is then due. Also , will the amount I receive disqualify me from Incapacity Benefit? if so, I will then have to pay my living costs out of the now dwindling amount also.
What are my options?
What should I then do with majority of the payment received from the house sale?
ISA?, High Interest Rate Account?
or travel around the World til the funds run out?
This is a very stressful situation to be in & I would appreciate any suggestions.
Thanks
Belfez
0
Comments
-
You need professional advice as some of the suggestions you are thinking about may be viewed in a dim light.
Pay for professional advice and take away some of the stress.
Bozo0 -
I can answer the Incapacity Benefit part. Any capital that you receive will not affect your IB as IB is not means tested.0
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