Will ESA be lost with a temporary lump sum hitting my account?

baza52

If all else fails, buy a car for 5K and register it in your name getting the v5 then sell it and use the cash to pay the CC or loan

konark

missbiggles1 wrote: »

And what happens when the CC company notices you've paid off your debt and takes the opportunity to close your account or drop your credit level drastically, as frequently happens - what do you live on then?

Then they will have saved you a job, get rid of all your credit cards.

Tbh they'll probably just raise your limit!

Xbigman

Could she not take the pension and have an income? The 25% lump sum would presumably pay off her debts.

Or draw down on the pension in smaller amounts over a number of years?


Lets be realistic. Getting 25k into her bank account whilst on ESA is playing with fire and an ultra cautious approach is best.


Darren

densol_2

konark wrote: »

Then they will have saved you a job, get rid of all your credit cards.

Tbh they'll probably just raise your limit!

Same happened to me. I just paid off £4200 on CC and was close to limit. Its now £0 and they raised my limit ! ( im not on " income " based benefits btw.

I agree with Baza re the CC - if its paid off but deemed as still " capital" just live off that !

Mojisola

Ames wrote: »

No - we just think that when you're risking severe financial hardship it's best to be over cautious.

Or end up like Pixelat0r -
https://forums.moneysavingexpert.com/discussion/5435834