Pension Credit online form

stupidaspie

When you enter thhe 'total amount of money you have today,' should an overdraft on a current account be included in the figure? Thanks.

whizzywoo

stupidaspie said:

When you enter thhe 'total amount of money you have today,' should an overdraft on a current account be included in the figure? Thanks.

No unfortunately not if you are overdrawn. 

You cannot set off debts against your capital.

If you need to reduce your capital for Pension Credit to less than £10,000 then you can pay off your overdraft or credit card debt. 

stupidaspie

What I meant was that the funds available in the account include a £300 overdraft, so I was wondering whether to deduct that.

calcotti

stupidaspie said:

What I meant was that the funds available in the account include a £300 overdraft, so I was wondering whether to deduct that.

I'm not sure what you mean. If you are overdrawn the balance is negative in which case for UC purposes it is nil. If the balance is positive you aren't overdrawn.

toomuchinfo

The £300 agreed overdraft isn’t your money so you don’t include it in your capital.

stupidaspie

calcotti said:

stupidaspie said:

What I meant was that the funds available in the account include a £300 overdraft, so I was wondering whether to deduct that.

I'm not sure what you mean. If you are overdrawn the balance is negative in which case for UC purposes it is nil. If the balance is positive you aren't overdrawn.

The account balance is positive. The total amount of money in the account is £415.46, but that includes a £300 overdraft. Without that, it'd be £115.46.

calcotti

I still don't get it. Do you mean you have access to £415.46 which is made up of a balance of £115.46 in your account and an agreed overdraft facility of £300 which you are not currently using? If so the balance is £115.46.

stupidaspie

calcotti said:

I still don't get it. Do you mean you have access to £415.46 which is made up of a balance of £115.46 in your account and an agreed overdraft facility of £300 which you are not currently using? If so the balance is £115.46.

Yes, sorry, that's what I was saying. So I'll just enter £115.46 on that part of the form.

calcotti

stupidaspie said:

calcotti said:

I still don't get it. Do you mean you have access to £415.46 which is made up of a balance of £115.46 in your account and an agreed overdraft facility of £300 which you are not currently using? If so the balance is £115.46.

Yes, sorry, that's what I was saying. So I'll just enter £115.46 on that part of the form.

Yes.