Outstanding. Debt

Facing imminent redundancy should receive a total payment of around 19k.   if I clear a car loan of 10k will I then receive some form of unemployment benefits or will they deem I have used this money irresponsibly ??

Comments

  • daveyjp
    daveyjp Posts: 12,392
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    Savings, redundancy payments, payment of debts etc is not considered when applying for Jobseekers allowance.
  • Andyjflet
    Andyjflet Posts: 524
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    At this point stock pile cash until you find a new job, dont pay anything off at the moment. 
    Baby Step 6/7 - £63000 saved for emergency fund DEBT FREE !!!
  • Masomnia
    Masomnia Posts: 19,506
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    Question for the benefits board.
    “I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse
  • sharpe106
    sharpe106 Posts: 3,559
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    You can use the money to pay of debts.
  • I don't think JSA is means tested so your financial situation is not relevant (check gov website).

    As Andyjflet said, you might want to consider holding on to as much cash as you can right now!
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