Tax credits overpayment

Iwanttomove

Hi,
I have an overpayment with tax credits which initially was about £8k now reduced to £3700 after more than a year of paying them. The problem is the amount they are taking back from me. They are taking £330.01 per month back. It just seems like too much to me and I really can't afford it. When I rang them to tell them they just said at least I will be paid off by feb 2013. Which I agree It would be lovely not to owe them anything but I can't afford £330 per month.

What do I do?

Thanks

novagirl

Ring again and ask to have it reduced. It is possible to have it spread over more than the 12 months that they say it has to be paid in.

Mimi_Arc_en_ciel

I had an over payment of around £700 and was paying back £50 a month

Little linky for you - http://www.hmrc.gov.uk/taxcredits/things-go-wrong/overpayments/difficulty-repaying.htm

I would work out what you can afford monthly then ring them up and state that you are struggling, you have looked at your expenditure and you could pay £XX off a month and see if they will reduce it for you

Murgatroyd21

It depends on a number of factors on your claim, and also how much your annual award is. If you are suffering hardship call the helpline again and state you are suffering hardship as a result, they should look to see what can be done. Have a look here http://www.revenuebenefits.org.uk/tax-credits/guidance/how-to-deal-with-hmrc/dealing-with-debt/#Financial%20hardship%20in%20ongoing%20recovery%20cases