My savings (balanced by 0% CCdebts) and partner's benefits...

cw18

If you use your savings to pay off your debts, that's seen as "capital avoidance". They only thing they'll allow you to do is pay off the minimum according to your contract (in this case your monthly statements). So you're likely to find yourself having to pay interest on those debts, or losing benefits as they will calculate what you're entitled to based on you still having that money as disposable income

(And this is following a conversation with a specialist IS advisor on Monday of this week)

ETA: As a couple you're allowed £6k in savings. Above £16k and you won't get any means tested benefits. Between thoe two figures, you lose £1/week in benefits for every £250 or part of..... so if you have the full £8k, then £8k-£6k=£2k. £2k=£250*8, so you'll lose £8/week in benefits.

cw18

absfabs wrote: »

Alternative: If I trickle 2000 (to get me <6000 savings) into joint account for our expenses/food/mortgage over next couple of months, will they reassess?

If you spend at a faster rate than you would get if entitled to full benefits, then they will want to know what every penny has been spent on -- and if they think you've spent it purely to fall below the £6k, then they can still count it against you.

Allowable expenses include council tax and rent/mortgage (for which you can add extra on to the "benefits" side of things, as if you were in receipt of full benefits you'd get these paid or some assistance with -- but you can only add on to the level of help you would get, minimum payments on debts (such as credit cards, loans), and the payments due on the remainder of a minimum term contract (which would include the vehicle lease).

I've been told by two people they don't allow home phone, internet access, buildings/contents insurance, life insurance etc..... but I phoning the specialist section back next week as I don't see how they can exclude bldgs contents and life insurance for us as these are conditions of our mortgage -- and are therefore part of a 'contract commitment' which I've now been told is allowed

absfabs

Thank you all again.

As it looks like he is not getting anything in the near future, I'm probably earning too much by their criteria, and as I haven't worked all my life to now consider giving up insurance or telephone, I think I'll spend my "savings" as I think fit.

He is not aware of having applied for council tax benefit, so I see no reason why I should disclose anything at this stage.

We look after ourselves best as we can, hopefully he finds work, if he can't in the next 2 months, then I see it that it's nobody's business that I have chosen to make some higher credit card payments now, after all we are not receiving a penny support from anywhere.

absfabs

Sorry if I sounded annoyed, I do appreciate all your advice. Thanks you. Really!

real1314

There's a lot of people on here being quite definite about what is or isn't allowed (or in fact about what's not allowed) but in my experience some of the things they are ruling out have been allowed.
Ok, no yachts or brand new Mercs, but given the right scenario it can be surprising what can be allowed. And each case should be considered on it's own merits.

cw18

I've called the dept back this afternoon, and they won't give me a hard and fast list -- other than I can't use capital to pay off debts any faster than required by minimum payments -- and have said I'll just have to apply for benefits when we fall below the £16k. At that point they'll go through my accounts and decide if what we've spent (and what we've spent it on) is reasonable. So it seems it's a game of second guessing them when it comes to "routine" bills like insurance policies

mcc28_x

Hi,

I think too much is being made of the savings problem.

If you're partner was S/E then he won't qualify for JSA(C) only JSA(Income Based).

This means they will take into account your circumstances too, you have volunteered that you are working more than 24hours per week. I'm sorry to say that is the knockout factor.

Have you spoken to tax credits about WTC?

Mark

absfabs

WTC, working tax credit.... so sorry, really have no idea what this is or if it applies to ?my circumstances .... always thought it's something parents claim.
Would be nice, though, to pay less tax if I am going to be the sole earner and supporting us. Makes sense.
Will go and google. Thank you

healy

cw18 wrote: »

I've called the dept back this afternoon, and they won't give me a hard and fast list -- other than I can't use capital to pay off debts any faster than required by minimum payments -- and have said I'll just have to apply for benefits when we fall below the £16k. At that point they'll go through my accounts and decide if what we've spent (and what we've spent it on) is reasonable. So it seems it's a game of second guessing them when it comes to "routine" bills like insurance policies

I dont think that rounine bills like insurance policies would be a problem because you have not spent above what you would normally.

mcc28_x

absfabs wrote: »

WTC, working tax credit.... so sorry, really have no idea what this is or if it applies to ?my circumstances .... always thought it's something parents claim.
Would be nice, though, to pay less tax if I am going to be the sole earner and supporting us. Makes sense.
Will go and google. Thank you

If you don't have kids need to be doing minimum of 30hrs per week to claim.