LCWRA and Using & Saving Money

NlghtOwl

You could put some in a pension which is disregarded for benefits assessment but of course you wouldn’t have access to it until years down the line.

Dandytf

Does repaying debt mean reducing 6k limit, seems I could use this option soon.

NlghtOwl

Yes, repay any debts, I can’t see any problem with that.

poppy12345

Dandytf said:

Does repaying debt mean reducing 6k limit, seems I could use this option soon.

Savings of less than £6,000 are ignored anyway. As you're also claiming UC paying debts is not classed as deprivation of capital either.

Dandytf

poppy12345 said:

Dandytf said:

Does repaying debt mean reducing 6k limit, seems I could use this option soon.

Savings of less than £6,000 are ignored anyway. As you're also claiming UC paying debts is not classed as deprivation of capital either.

i had recently exceeded 6k limit, though since less, I had thought if I repaid some debt to Decrease less than 6k, maybe I wont be sanctioned.
To re phrase- How soon are the +6k  savings sanctioned, is it weeks/months.

thanks

Spoonie_Turtle

Dandytf said:

poppy12345 said:

Dandytf said:

Does repaying debt mean reducing 6k limit, seems I could use this option soon.

Savings of less than £6,000 are ignored anyway. As you're also claiming UC paying debts is not classed as deprivation of capital either.

i had recently exceeded 6k limit, though since less, I had thought if I repaid some debt to Decrease less than 6k, maybe I wont be sanctioned.
To re phrase- How soon are the +6k  savings sanctioned, is it weeks/months.

thanks

UC is based on your circumstances at the end of an assessment period.  So for each AP when your savings are over £6,000 you should declare it.

Note that savings ≠ the total of all your accounts.  Income is not capital until it's unspent by the next period - and don't forget any of the Cost of Living or Cold Weather payments are disregarded as well.

Spendless

Double check this but I *believe* paying for a funeral plan upfront isn't classed as DOA either.