We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
end of contract coming up
pazza20
Posts: 3 Newbie
Morning all.
So I was on a fixed term contract, which ends in a few weeks. Sadly no chance of extension. I'm a single Mum and have two young children so expect to find it difficult to find new employment as I would have to find 'key worker' employment that would be willing to take me on school hours only. Or be able to work from home, which would be difficult with small children and a new job. I'll obviously continue looking and applying, but in the mean time, I have two questions:
1. What do I do now or at the end of the contract? Apply for jobseekers allowance? I currently receive CTC and can update my employment information online.
2. I have approx £2000 savings and £2000 credit card debt. I stopped overpaying my credit cards (as well as buying all non-essentials) a few months ago and saved the money knowing that my contract was ending. Would my savings count against any jobseekers support? If it will, I'll just clear my credit cards.
Many thanks in advance.
So I was on a fixed term contract, which ends in a few weeks. Sadly no chance of extension. I'm a single Mum and have two young children so expect to find it difficult to find new employment as I would have to find 'key worker' employment that would be willing to take me on school hours only. Or be able to work from home, which would be difficult with small children and a new job. I'll obviously continue looking and applying, but in the mean time, I have two questions:
1. What do I do now or at the end of the contract? Apply for jobseekers allowance? I currently receive CTC and can update my employment information online.
2. I have approx £2000 savings and £2000 credit card debt. I stopped overpaying my credit cards (as well as buying all non-essentials) a few months ago and saved the money knowing that my contract was ending. Would my savings count against any jobseekers support? If it will, I'll just clear my credit cards.
Many thanks in advance.
0
Comments
-
OPTION 1: claim new style JSA. It will pay £73.10/week for 26 weeks. Your CTC will continue. You will only be eligible if you have a complete NI record for the tax years 2017-18 and 2018-19.
OPTION 2: look at eligibility for Universal Credit https://www.citizensadvice.org.uk/benefits/universal-credit/.
There are online calculators to help you assess entitlement https://www.gov.uk/benefits-calculators.
However claiming UC will end your Tax Credits,In both cases you may also be able to claim Council Tax Reduction from your local council
If you need help with rent you will have to go down the UC route.
Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.0 -
Thank you. Do you know anything about the savings?0
-
pazza20 said:Thank you. Do you know anything about the savings?
Savings of less than £6.000 are ignored for means tested benefits like UC.
0 -
that's great, thank you. Looks like i'll be signing on in a few weekspoppy12345 said:pazza20 said:Thank you. Do you know anything about the savings?
Savings of less than £6.000 are ignored for means tested benefits like UC.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards