Would you take the plunge? Advice needed

BlueIsTheColour

It could be possible tho to pay off £25k of debt for a lot less using F&F offers, meaning not all the redundancy would be used up, but yes conts based JSA is only for 6 months and as a person who got made redundant in July, telling myself I would have a job in a month and was still unemployed in January, that has to be a consideration, luckily for me, I guess, I found a job the week before my JSA was due to expire.....

1984ReturnsForReal_2

Oldernotwiser wrote: »

If you search this site under "deprivation of capital" you'll find lots of threads about it. It even applies if you've borrowed money on 0%credit cards to put into savings! The savings count as capital and the debts aren't allowed for. If you put the money back onto the cards you'll be assessed as if you still have it.

It's also nothing to do with HMRC - why should it be?

Thats bad.

I will look into in further later but I can only find it relating to paying off a mortgage or gifting it to others.

Nothing about paying off a personal loan or credit card debt...

ex_fox_now_a_dragon

Thanks for your input, guys. I've got less than a week to make my decision. My payout will pay off all the credit cards and our personal loan, I've had a recalculation and my husband is working so that covers the mortgage payment and all the monthly bills. Also here in Wales there is the React scheme which helps towards re-training, does anyone have any experience of this?
I still don't understand JSA and using your payment to pay off debts, as people at work say that you can do it and still claimas it's improving your financial situation but posts on here suggest it's deprivation of capital.