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Loan while on UC
jemima72
Posts: 43 Forumite
If I was to get a credit union loan of £500 do I need to declare it to Universal Credit? It wouldn't take my savings above £6000 but not sure if it's classed as income?
0
Comments
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It's treated as capital (not income) and as yours is below £6,000 there's nothing to report because it's disregarded.2
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I would seriously think about the impact of the loan and the repayments.Proud to have dealt with our debtsStarting debt 2005 £65.7K.
Current debt ZERO.DEBT FREE0 -
Have you considered applying for a Budgeting Advance from UC?
Let's Be Careful Out There0
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