childrens savings classed as an asset?

7roland8

I can understand you have to produce the certificates for inspection but did they deduct anything because you had some savings in children's names?

No they never deducted anything.

Same as I had to keep producing my premium bond cert for £100 I had put away yrs ago - got so cheesed off I cashed it in.

They were even fussing about a bank account in son's name - not been used for yrs - they made me go to the bank to confirm all this when I was ill (do in 7 days or else) - turned out there was only 3p in it!

I'm sure the people who actually defraud are so well up on things they never get caught - while we have our small sums of money reifled through - if I was hiding money I'd not do it in an account I'd told them of surely??

Shelldean

For housing benefit they want to know EVERYTHING.
When i wanted to open a bank a/c the bank refused unless I opened a joint a/c with my Nan as guarantor. They also insisted I open a saving a/c. £1 was placed in the savings a/c, 6 mths down the line, i transfered the £1 back out. The a/c had 2p of interest in it. It just got left and forgotten about.
Several yrs later I applied for HB and CTB, showed them all my a/c's etc but never mentioned this 2p a/c. Then one yr they visited me at home to do a review. Whilst talking the advisor, she asked did I have any other savings etc? I jokingly said Oh yes I have a savings a/c!!! She demanded to see statements. But as the a/c only had 2p in it, the statements had stopped several yrs previously. For my claim to continue I had to go and ask the bank for an up to date statement and prove to the council it really did only have 2p in it. a/c has since been closed, but my HB & CTB forms still show this 2p in the workings out!!!!!!!

echoes008

Shelldean wrote: »

For housing benefit they want to know EVERYTHING.
When i wanted to open a bank a/c the bank refused unless I opened a joint a/c with my Nan as guarantor. They also insisted I open a saving a/c. £1 was placed in the savings a/c, 6 mths down the line, i transfered the £1 back out. The a/c had 2p of interest in it. It just got left and forgotten about.
Several yrs later I applied for HB and CTB, showed them all my a/c's etc but never mentioned this 2p a/c. Then one yr they visited me at home to do a review. Whilst talking the advisor, she asked did I have any other savings etc? I jokingly said Oh yes I have a savings a/c!!! She demanded to see statements. But as the a/c only had 2p in it, the statements had stopped several yrs previously. For my claim to continue I had to go and ask the bank for an up to date statement and prove to the council it really did only have 2p in it. a/c has since been closed, but my HB & CTB forms still show this 2p in the workings out!!!!!!!

Thanks. First of all I will close all unnecessary bank/building society accounts that way I don't have to run around looking for statements.

ariba10

echoes008 wrote: »

Presumably if I buy a new car or invest in gold jewellery I would be eligible for government hand outs.....

Has it not always been the same.

There are some who spend all they receive and others who save for a rainy day.

And it looks as if your rainy day has come.

echoes008

ariba10 wrote: »

Has it not always been the same.

There are some who spend all they receive and others who save for a rainy day.

And it looks as if your rainy day has come.

Yes. my rainy day has come which is why I am trying to see what I can get from government. every little helps...

echoes008

DX2 wrote: »

If you do this just before claiming benefits it could be classed as deprevation of capital and they would still assess you as if you still had this money.

How would they know. I don't think they ask questions about what major purchase you have done in last 6 months.

And one can buy car any time anyway.. I have had my previous car for about 10 years now and I think now would be a good time to replace it.

GlasweJen

They ask for bank statements for all accounts for the last 3-6 months.

If you bought a regular family car because your old one wasn't suitable any more that would be ok, if you bought a merc just because you fancied one you'd be depriving yourself of capital and they would just assess you as if you still had the money.

echoes008

GlasweJen wrote: »

They ask for bank statements for all accounts for the last 3-6 months.

If you bought a regular family car because your old one wasn't suitable any more that would be ok, if you bought a merc just because you fancied one you'd be depriving yourself of capital and they would just assess you as if you still had the money.

Thank you for your reply. Are you sure they ask for bank statements for 3 to 6 months. As far as I can understand they just want the bank statement for last 4 weeks.

GlasweJen

They want at least 3 months of statements up here.

shikoku

Definitely at least three months.

Bit of a wake up call isn't it when you are actually faced with it...