Equity and Child Support Agency (CSA)

missey_2

Selling my house (my main residence) and will be renting a flat from a friend. I will have about 80k equity. This will be put away as savings.

In my current job I pay Child Support. My ex is claimings benefits. If I leave work (do full time college) will CSA be entitled to any of the savings?

P.S The house was bought by me years after we split...so was never a shared.

robwend

best contact CAB, you will have to pay 20% of what ever your bringing in , if your in debt with the csa at all and you owe money to the treasury they will want it back ,so best get legal advise

missey_2

not missed a CSA payment...no debts (once mortgage has been paid off).
Will live off redundancy money and interest on savings...so only income will be interest on savings. Thought about investing equity in a BTL but my feeling is wrong time at mo (as well as hassle). Can rent friends flat very cheap for about 18mths/2yrs so dont need to buy a pad myself. CAB..worth a visit for sure:T

hex2

Under the new rules they will look at any interest on savings over a certain amount as income. Also your former partner may claim that your living standard is higher than your income (eg living off your savings) and have a claim that way.

robwend

that right hex, that what i had to do to catch my toad of a ex

missey_2

get on well with ex...but i know when on benefits you have no choice about certain things! (giving details of former partner).

the money will be used for property again...just be a void thats all.

if im going to be forced to hand some over i may as well buy a pad immediatly and let it out.

ps. im a male...missey is my cats name....

Prudent

If you have assests of more than 60k you may have to pay extra child support. You will also have additional income form the interest. I think it unlikely they will chase you for the money unless your ex informs them.

robwend

well they will know because of change of address, and they will find out, and it dosnt matter if shes on benifits of not, because your paying part of her income support through the treasury,and is she dosnt inform them where he is they will lower her benefits, <they done it to me when i was single>thers no easy way out of this, what will be will be xx

missey_2

thing is..if i earn money i am willing to pay my percentage of my income to csa..and rightly so.

but equity from sale of my home...which will be used to buy another home...with a void period between is not income, surely ?

otherwise i will illiminate the void and btl

robwend

i would have thought that myself, but we are talking the goverment here lol the CAB really will be able to tell you ,good luck xxx