Help! will I get in trouble for having more than £6,000 in my bank account?

Loopy_Girl

Oldernotwiser wrote: »

Interestingly, you asked the question about the effect on your benefits of having over £6,000 in savings back in September. It seems that you have conveniently forgotten the answer you were given.

https://forums.moneysavingexpert.com/discussion/comment/36789086#Comment_36789086

Including the poster who specifically advised you that

"For income based benefits it will be reduced by £1 for every £250 over £6k ".

I hate to say it but he was also advised in October last year in another thread about not having more than 6K in savings - and this was after he had received the inheritance.
https://forums.moneysavingexpert.com/discussion/comment/37767934#Comment_37767934

Sorry EJF, you have been made aware on more than one occassion of the limit for savings. Not quite sure what has pricked your conscience and you are suddenly panicking about it now (maybe the change from JSA to ESA?) but I reject the suggestion that you did not know about it. You have also been on this site long enough to see the figures quoted in other threads which are nothing to do with you.

Looks like my sympathy and empathy have been in vain. I had visions of some poor disabled person (which to be honest you do seem to mention an awful lot) all alone and wondering how to pay the bills and struggling to grasp the benefit system and it looks like the reality is quite the opposite and you are more clued up that you let on.

So, I'll bow out now and let others help and support *shrugs shoulders*

Loopy_Girl

smarternow wrote: »

My understanding is £5,999 before savings are taken into account for jsa claims. Contribution based.

Then I am afraid your understanding is wholly incorrect (and a quick Google can easily bring up relevant info).

You can be a millionaire and claim (CB) JSA. Savings come into play for (IB) JSA if there are £6000 and over.

healy

Oldernotwiser wrote: »

Interestingly, you asked the question about the effect on your benefits of having over £6,000 in savings back in September. It seems that you have conveniently forgotten the answer you were given.

https://forums.moneysavingexpert.com/discussion/comment/36789086#Comment_36789086

Including the poster who specifically advised you that

"For income based benefits it will be reduced by £1 for every £250 over £6k ".

Also it should have been clear when they claimed income based JSA that there was a limit, this sob story is wearing a bit thin now.

seven-day-weekend

I hope that the OP was genuine but it appears that alas, like so many now, that they were not.

Oh well.

healy

According to this they have £10,000 + which is a different figure to the one on this thread:

https://forums.moneysavingexpert.com/discussion/2970286

dreamylittledream

Loopy_Girl wrote: »

Then I am afraid your understanding is wholly incorrect (and a quick Google can easily bring up relevant info).

You can be a millionaire and claim (CB) JSA. Savings come into play for (IB) JSA if there are £6000 and over.

Providing of course you are not a millionaire with a private pension in payment.

nogginthenog

cit_k wrote: »

Be careful going that route, could be seen as deprivation of capital.

Upon further investigation...Your Right!



Decision Makers Guide - DMG45022

Deprivation of capital: introduction

The law applies if applicant's use their capital to buy personal possessions, such as a car, and they bought them to get

• WFTC or

• DPTC

The personal possessions are not disregarded if this applies

EltonJohnFan

Oldernotwiser wrote: »

Interestingly, you asked the question about the effect on your benefits of having over £6,000 in savings back in September. It seems that you have conveniently forgotten the answer you were given.

https://forums.moneysavingexpert.com/discussion/comment/36789086#Comment_36789086

Including the poster who specifically advised you that

"For income based benefits it will be reduced by £1 for every £250 over £6k ".

Thank you for pointing this out.

If you remember back, you'll see I state quite clearly at the beginning of this posting that I was being told conflicting information by different people with some saying that I'm allowed to have £3,000 before it affects anything, others £6,000 and some people telling me it doesn't matter how much money you have because it won't affect things at all although I do find that hard to believe, however. I also mention that I told the Jobcentre at the time of receiving this money that I now had around £8,000 or so and was distinctively told, both times I asked that it wouldn't affect anything at all because you're allowed to have up to £16,000 before you're affected. I may have still been on Contributions Based Jobseekers Allowance at the time of receiving this money but I can't remember exactly and I was never told about any savings limit when they stated to me that I was now claiming Income Based Jobseekers Allowance. Please remember, it's not that I deliberately saved up this money knowing full well the capital limit because that's now how it was at all. I was left this money and it meant that my savings jumped from next to nothing to quite a sizeable sum. Can you see my confusion now? I'm glad to have asked this question because I have a lot more information on this topic and I intend to fully declare the total amount I have which due to recent payments is now the £8,8750 mark, best wishes.

EltonJohnFan

seven-day-weekend wrote: »

I hope that the OP was genuine but it appears that alas, like so many now, that they were not.

Oh well.

I am indeed genuine but it seems like there's been some confusion?

I'm not the best person in the world at explaining things and it's difficult to get your point across on an internet website but as I say I have nothing to hide and I've been completely honest in all my postings. It's up to you whether you think I'm genuine or not but I appreciate the help and support you and other members of the community have given me in this as I desperately need to find out exactly where I stood and now that I do? I intend to put it right. Thank you.

Oldernotwiser

EltonJohnFan wrote: »

I also mention that I told the Jobcentre at the time of receiving this money that I now had around £8,000 or so and was distinctively told, both times I asked that it wouldn't affect anything at all because you're allowed to have up to £16,000 before you're affected.

You would not have been given misinformation on such a basic point twice!

In addition, if you were so confident that you had checked this out with JCP, why did you ask on MSE where you were very clearly given the correct information ?