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FUNDING CIRCLE/RATESETTER
CaptainTact88H
Posts: 3 Newbie
Hello
I have more than £16000 invested in these two peer to peer lending platforms. However almost none of the money is accessible and indeed i stand to lose a great deal of it it seems! Since effectively i have no access to (and may never have) the money do I still say i have these 'savings' when applying for Universal credit etc? This could make a huge difference to whether i can get any help from the Government.
Kind regards
Graeme
I have more than £16000 invested in these two peer to peer lending platforms. However almost none of the money is accessible and indeed i stand to lose a great deal of it it seems! Since effectively i have no access to (and may never have) the money do I still say i have these 'savings' when applying for Universal credit etc? This could make a huge difference to whether i can get any help from the Government.
Kind regards
Graeme
0
Comments
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Thats an interesting question that I have never come across before, I suspect you will need to speak to the DWP when you apply for UC for a definitve answer.
Sorry I can't help further.0 -
Without knowing your exact circumstances https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/864936/admh1.pdf
Paragraphs H1601 onwards may be helpful to read, particularly H1612 and H1613.Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.2 -
Is there a way of passing this question on to Martin Lewis himself as I believe it is indeed an interesting question?0
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I don't think Martin reads these threads - nor is he a DWP Decision Maker.CaptainTact88H said:Is there a way of passing this question on to Martin Lewis himself as I believe it is indeed an interesting question?Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.0 -
Perhaps but he'd certainly be able to get an answer. However, is there an email address to his office?0
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That would mean that illiquid assets were not counted. If so, then you could just pay all your savings into a 5 year fixed term account and it would not be counted. Doesn’t seem likely, but of course I cannot speak for DWP.1
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Have to agree with the above. Until they have been lost or passed to liquidators you have to assume they are still there.0
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