ISA & Income support

Killmark

mark6 wrote: »

Is that good enought proof??

The name on the account is who it belongs to.

mark6

HappyMJ wrote: »

£16k is quite a generous sum of money it can be used as a 10% deposit on a house worth £160k. All you need to do is get your balance under £16k then you can claim some HB. You have had to live for the past 5 months so they do expect you to have spent some of your savings over that time. Could you rent somewhere using some of your money to spend on deposit first months rent and enough (several thousand) to furnish it? That is not depriving yourself it is housing yourself.

This is a very helpfull post, cheers.

Is it ok to do that then?

This is the sort of info I'm looking for as I feel I have done my share and my parents help for saving all my life for a place to live but now I'm not working I feel I'm deliberately moving out to claim more money off the government in housing benefit.

All I and my parents want to do is pay my own way in life instead of been dependant on the system, If I move out now and put some of this money as a deposit,pay rent and furnish the house,then income support aren't going to say I've deliberately moved out knowing I can't sustain my own living cost?

[Deleted User]

mark6 wrote: »

My parents never gave me the money,they didn't take the lodge of me, at the end of each tax year I put it in an ISA. I never used to earn much money and some months I didn't have to take any money out the bank as I was living of my parents. To me this is proof that the money in the ISA is theirs. You can even see by statements I was drawing £250 a month out on the 28th of ever month and then it stopped. That was then when the money in the Isa started.

Is that good enought proof??

i`m sorry but you seem to be contradicting yourself,you say the job you had "paid",now you say you didnt earn much money,which is it?
Anyway which ever way you look at it the money was yours,is yours,and will be seen as yours NO matter how you try and disguise it.
We arent here to help anyone get round the system.

HappyMJ

mark6 wrote: »

This is a very helpfull post, cheers.

Is it ok to do that then?

This is the sort of info I'm looking for as I feel I have done my share and my parents help for saving all my life for a place to live but now I'm not working I feel I'm deliberately moving out to claim more money off the government in housing benefit.

All I and my parents want to do is pay my own way in life instead of been dependant on the system, If I move out now and put some of this money as a deposit,pay rent and furnish the house,then income support aren't going to say I've deliberately moved out knowing I can't sustain my own living cost?

Yes absolutely fine.. I've said it before on another thread deprivation rules are there for the people who put money into trusts or who pay off home loans which don't need paying back but you are housed in mum and dads home at 37 when you should be in your own home. If you spend lots on furniture then you'll still have that furniture for when you do set up in your own house that you buy so you'll be better off. Hopefully you won't be on HB for long as you'll see money going down pretty darn quick and will look even harder for work. There are quite a few people here advising otherwise for reasons I'm not sure of but if you'd spent your life living life to max you'd get everything so I can see why you feel you should be entitled to something so come on move out into a little 1 bed place and start living.

karenx

why do you think your going to get income support??

mark6

karenx wrote: »

why do you think your going to get income support??

I'm getting it mixed up. I thought after your 6months JSA N.I based run's out you go on to Income support. I think its actually still J.S.A but meens tested. I.E how much savings you have.

dmg24

mark6 wrote: »

My parents never gave me the money,they didn't take the lodge of me, at the end of each tax year I put it in an ISA. I never used to earn much money and some months I didn't have to take any money out the bank as I was living of my parents. To me this is proof that the money in the ISA is theirs. You can even see by statements I was drawing £250 a month out on the 28th of every month and then it stopped. That was then when the money in the Isa started.

Is that good enought proof??

In that case, as the money has never been in their name, there is absolutely no proof that it is theirs! All that your bank statements show is that you put money in an ISA in your name each month.

As HappyMJ has stated, you can spend your money reasonably, but giving a lump sum to your parents is not reasonable spending.

mark6

woodbine wrote: »

i`m sorry but you seem to be contradicting yourself,you say the job you had "paid",now you say you didnt earn much money,which is it?
Anyway which ever way you look at it the money was yours,is yours,and will be seen as yours NO matter how you try and disguise it.
We arent here to help anyone get round the system.

I was a tyre fitter, it paid instead of been on the dole. It was a crap job that ruined my ear's but at least I was working. I'm not a bragger down the pub saying it 'paid' as in I'm loaded. It's just the fact I've tried to save all my life for a place of my own instead of paying rent to someone who can afford to buy a house to rent out to earn money. My parents have tried to help and now i'm out of work I don't really want to see my life savings for a house disappear.

mark6

I'd just like to say thanks to HapptMJ as your advice has been most helpfull. You've helped me decide what's probably best to do. I feel a bit guilty, but I'm only doing what i'm entitled to. I sometimes wish i'd gone out a bit more and maybe taken a holiday abroad at sometime as I probably won't be able to now but at least i'll be independant from my parent's and no longer a burden on them.

Cheers

Mark

healy

mark6 wrote: »

It's not on about fiddling, it's about not living at home forever and been a burden on my parents. It was agreed with my parents that the money was to be used for nothing else except towards a house deposit. They could have banked it but ISA's was the best way to make the money grow the most. They used their allowance so it was best to put it in my allowance.

I've already told the job centre what money was in my account when I first claimed JSA. It's just my JSA end's in 2 weeks time.

If thats the case with what you say, I may as well just move out and rent a place of my own with the money I have left, after paying my parents the £9000 back, and watch the little money I have left slowly fade away on rent,electric,water,council tax that my parents were paying while living at home and when it's all gone have to claim housing benefit as well if I still don't have a job. The funny thing is this is probably gonna save my parents more money but cost the government more money in housing benefit ect in the long run.

If you are looking for a way to receive means tested benefit and keep significant savings it is looking for a way to fiddle the system. There has to be a cut off point somewhere. The money is yours you cannot pretend otherwise.