Credits on utility bills.

[Deleted User]

millie.molly.mandy wrote: »

Well I have won some money, and want to put my rent account in credit so I am not affected too much by the room tax. Plus add to my utility bills. Plus I have a couple of credit cards that I only use occasionally so I thought I could top them up with money.

I suppose it would be depreciation of capital but we are not talking about loads of money as I am not frittering it away on rubbish, just trying to avoid the cancelling and re applying of some benefits I will put some in the bank but we are not talking of thousands, but a little over the savings threshold.

then thats a no no,and cc wont allow you to put them in credit they will just refund the money back to you

princessdon

Yeah go for it sweetie - they can't get the money until 18 if a minor if an adult they'll treat you as having it.

miduck

millie.molly.mandy wrote: »

Just trying to be practical. Maybe I will just open an ISA in my grandsons name and save all the hassle.

You'll hit the same problem - you cannot give away money in order to maximise your benefits.

millie.molly.mandy

miduck wrote: »

You'll hit the same problem - you cannot give away money in order to maximise your benefits.

But they won't know will they, I am sure there are ways around all this, I will give it some thought. I don't see why I should tell them, my daughters initial is the same as mine, so maybe I will get her to cash the cheque.

Thanks for your advice, I just wondered about the utility bills but if you thinks it's a bad idea I will shelve that and either do an ISA for the difference or get my daughter to cash the cheque.

FRESTER

It's handy your daughters initial is the same
What a nice win for her;)

wayne0

you can gift your children up to £2000... but if their capital is over 2000 then the whole amount is counted as your funds - be careful about this.

also, credit cards do not allow you to keep a credit... - although barclaycard took £300 out of my bank a few months ago when my statement was only £120, i was in credit for a couple of months over it with no refund (or credit interest applied back to me)... - it all depends...

if you have debts clear them... this is ok by the view of benefits etc.

zzzLazyDaisy

wayne0 wrote: »

if you have debts clear them... this is ok by the view of benefits etc.

Even this is not necessarily true.

If you have debts that are currently due and payable (payment demands for utilities, being pursued by debt collectors etc) it is acceptable to clear those debts.

But if you have agreed regular repayments, for example a mortgage or a loan, it is not acceptable to clear the whole debt, just the repayment as it falls due. In that case to repay the loan in full before if falls due would be considered deprivation of capital.

FBaby

millie.molly.mandy wrote: »

But they won't know will they, I am sure there are ways around all this.

Do you :rotfl:Don't you think many people have been there before you, trying to see how they can keep their savings and still claim benefits?? Why do you think it is acceptable that tax payers who for many can't afford to have any savings should support you whilst you get to keep yours? Authorities have wisened up and will make thorough checks. Anything they suspect you've done purely to insure that you can claim benefits will be seen as deprivation of capital.

Mojisola

millie.molly.mandy wrote: »

But they won't know will they, I am sure there are ways around all this, I will give it some thought. I don't see why I should tell them, my daughters initial is the same as mine, so maybe I will get her to cash the cheque.

Are you sure that the capital isn't going to affect anything your daughter claims?

millie.molly.mandy

FBaby wrote: »

Do you :rotfl:Don't you think many people have been there before you, trying to see how they can keep their savings and still claim benefits?? Why do you think it is acceptable that tax payers who for many can't afford to have any savings should support you whilst you get to keep yours? Authorities have wisened up and will make thorough checks. Anything they suspect you've done purely to insure that you can claim benefits will be seen as deprivation of capital.

I actually think that £6k is a lot of money to allow people on benefits to keep, most people these days are lucky to have any savings at all.
But I was lucky enough to win something, and I intend to make the most of it. As I have said I will get round it as my daughter has my initials, and her bank account is still in her maiden name, she is not on benefits so problem solved.
I find it amazing how people always condemn people trying to beat the system, yet nearly all would do it themselves without a second thought if they got the chance. :beer: