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Pension Credit, will selling personal items to repay debt affect my entitlement ?
Lavender24
Posts: 6 Forumite
Thanks to MSE I have recently applied for and started receiving Pension Credit. I'm 76 and not realising I was entitled to PC I struggled financially for some years on a very low income, as a result I now have credit card debt. Can anyone tell me if selling my personal possessions (at my age I have collected quite a few !), will affect my entitlement to PC. I'm talking about my good , now vintage clothes, jewellery and glass collection. Without selling these I have no hope of paying off my debts as my disposable income is zero in our present cost of living crisis and the interest rate on my debt is so high. Just to add I have no other assets.
Many thanks in advance for your thoughts and any advice.
Many thanks in advance for your thoughts and any advice.
0
Comments
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May I suggest you post on the debt free wannabe part of the site for help with the debts?2
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Lavender Before you start selling anything get yourself over to the Debt Free Wanabe board.
Debt-free wannabe — MoneySavingExpert Forum
It's possible there could be a good solution to your debtsIf you go down to the woods today you better not go alone.2 -
If after heading over to DFW you still feel you need to sell some items, it won't affect your PC.
(Technically if it took your capital over £10,000 it would start to, but doubtful that would happen in your situation.)1
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