UC How do I kick start a review of my savings

_Jem_

Grumpy_chap said:

_Jem_ said:

I did update on the 24th about the ISA but I never updated all my other accounts, So at the weekend on Sunday I did it all my savings plus ISA. As Sunday was the last assessment date 

So in reality everything was updated the weekend just gone.

If I understand correctly, you have been claiming UC for 5 years.

You had savings all of that time (since you were 18), that were not declared, but now above £6k (ISA) plus some other accounts which you declared in stages.

I think, for your own needs, you need to build up a clear understanding of what savings you had and when.
Also, whether any assets are disregarded.

I imagine, the review won't be made any easier by the fact that when you did realise an error you declared only part of the picture at first.  A full disclosure will be required.

Thanks everyone, I have sent a message to UC in my journal.

It was only the ISA that wasn't reported when I applied for UC, all my other accounts had been registered with UC all at once not in stages,those weren't the problem as I have never had much money in those accounts. It will be easy to download those bank statements and send them to UC.

peteuk

You dont have to declare anything until you hit the £6K mark, thats combined accounts.  So if your ISA was at £4K and your savings at £3K then at that point you were over the £6K capital amount.  

At best I believe they will look at when you went over and calculate the overpayment and then a small fine.  They may decide that you knew about it all along they may look at a case of fraud. 

Out of interest how did you find out about the ISA?  I dont buy the I just found out story, given that you would have been receiving statements, unless you can show them that the statements have been going to A N Other.   

_Jem_

peteuk said:

You dont have to declare anything until you hit the £6K mark, thats combined accounts.  So if your ISA was at £4K and your savings at £3K then at that point you were over the £6K capital amount.  

At best I believe they will look at when you went over and calculate the overpayment and then a small fine.  They may decide that you knew about it all along they may look at a case of fraud. 

Out of interest how did you find out about the ISA?  I dont buy the I just found out story, given that you would have been receiving statements, unless you can show them that the statements have been going to A N Other.   

I hope you are not suggesting I'm a lier...

If I had known about the ISA I would be living a bit more comfortable in my home, as my home is pretty bare I don't have the essential things like a cooker etc.. Don't watch TV as I don't own a TV but even if I had a TV I couldn't afford a TV licence,my eating habits hasn't been great over the last few years. It wasn't until I saw a family member and told them what's been going on with my life since I left my relationship. That's when the ISA was mentioned. The relationship I was in took a bad turn I felt I couldn't get out as I didn't have anywhere to go and no money,  It was frightening because the council told me there isn't any homes and I might be made homeless.

Basically for the last few years I haven't been living a life just surviving as each day goes on.

The money from the ISA would of definitely helped me out.

peteuk

_Jem_ said:

peteuk said:

You dont have to declare anything until you hit the £6K mark, thats combined accounts.  So if your ISA was at £4K and your savings at £3K then at that point you were over the £6K capital amount.  

At best I believe they will look at when you went over and calculate the overpayment and then a small fine.  They may decide that you knew about it all along they may look at a case of fraud. 

Out of interest how did you find out about the ISA?  I dont buy the I just found out story, given that you would have been receiving statements, unless you can show them that the statements have been going to A N Other.   

I hope you are not suggesting I'm a lier...

If I had known about the ISA I would be living a bit more comfortable in my home, as my home is pretty bare I don't have the essential things like a cooker etc.. Don't watch TV as I don't own a TV but even if I had a TV I couldn't afford a TV licence,my eating habits hasn't been great over the last few years. It wasn't until I saw a family member and told them what's been going on with my life since I left my relationship. That's when the ISA was mentioned. The relationship I was in took a bad turn I felt I couldn't get out as I didn't have anywhere to go and no money,  It was frightening because the council told me there isn't any homes and I might be made homeless.

Basically for the last few years I haven't been living a life just surviving as each day goes on.

The money from the ISA would have definitely helped me out.

There’s a difference between calling someone a lie and the facts not adding up.  There is something dubious about this, as many others have mentioned.  UC will certainly look at it.  As I’ve suggested you will need to show you knew nothing about it, as your word isn’t strong enough.  That’s not to say you’re lying but on probability you should have known about it.

So if you can get proof that it wasn’t set up by you, but in your name.  Prove that the statements have been going elsewhere where, or even if they’re paperless.  Ask if the establishment can show who has looked at the balance via an app (they can do this as my bank has just said I haven’t logged in for over a year). Etc etc…. That way your story of I didn’t know about it is more than just your word, it’s backed by evidence.

Altior

It is plausible at least that this was originally a JISA. If the OP's address was not updated, they may not have received the letter to convert the JISA/ISA into their own name. Maybe it was opened with a pretty modest amount of money originally, and over time, people just forgot about it. 

Presumably the OP would have needed to provide ID to access this account anyway, once they discovered it existed. 

OP, has a JISA been mentioned in dispatches at all? It's an ISA specifically for U18s that is then converted into an ISA upon adulthood. But not automatically. Crucially, opened up by adults, legitimately, acting on the child's behalf. 

sammyjammy

Presumably you've now cashed the ISA and are using the money ot buy yourself the basics in life?

_Jem_

Altior said:

It is plausible at least that this was originally a JISA. If the OP's address was not updated, they may not have received the letter to convert the JISA/ISA into their own name. Maybe it was opened with a pretty modest amount of money originally, and over time, people just forgot about it. 

Presumably the OP would have needed to provide ID to access this account anyway, once they discovered it existed. 

OP, has a JISA been mentioned in dispatches at all? It's an ISA specifically for U18s that is then converted into an ISA upon adulthood. But not automatically. Crucially, opened up by adults, legitimately, acting on the child's behalf. 

Once I found out about the ISA, I looked to see if there was a app, there was the only thing I needed was my NI number and DOB.

Looking in the app it has a transactions section and the only transaction was on the date that it was opened over 30 years ago, a good amount was put in not too little not too much. I'm only £3,000 over in the ISA.

sammyjammy said:

Presumably you've now cashed the ISA and are using the money ot buy yourself the basics in life?

Well that is my intentions to move it to a Cash ISA to sort out my home just the basics, but I don't want to start taking money out without UC knowing what I'm doing incase it looks like I'm trying to get rid of it or hide it, I would rather wait and use the money to pay off anything the UC wants, then whatever is left I can get the essentials.

I actually had a bank account review last year, So they should still have those bank statements, unless they delete them afterwards.

Altior

_Jem_ said:

Altior said:

It is plausible at least that this was originally a JISA. If the OP's address was not updated, they may not have received the letter to convert the JISA/ISA into their own name. Maybe it was opened with a pretty modest amount of money originally, and over time, people just forgot about it. 

Presumably the OP would have needed to provide ID to access this account anyway, once they discovered it existed. 

OP, has a JISA been mentioned in dispatches at all? It's an ISA specifically for U18s that is then converted into an ISA upon adulthood. But not automatically. Crucially, opened up by adults, legitimately, acting on the child's behalf. 

Once I found out about the ISA, I looked to see if there was a app, there was the only thing I needed was my NI number and DOB.

Looking in the app it has a transactions section and the only transaction was on the date that it was opened over 30 years ago, a good amount was put in not too little not too much. I'm only £3,000 over in the ISA.

That adds to the confusion to be honest, as ISAs for adults only started in 1999.

How old were you when it was opened?

I would have expected it to have grown significantly over that timeframe. Unless it is being chewed up by fees.

Long gone are the days where you can ordinarily access an account like that you've never used before, by simply disclosing your DOB and NIN, as those are pretty easy variables to get hold of. This is a rather unusual scenario. 

'baby bonds' (CTFs) were introduced by the Blair government in 2005, so only 20 years ago. JISA's weren't launched until 2011.

_Jem_

Altior said:

_Jem_ said:

Altior said:

It is plausible at least that this was originally a JISA. If the OP's address was not updated, they may not have received the letter to convert the JISA/ISA into their own name. Maybe it was opened with a pretty modest amount of money originally, and over time, people just forgot about it. 

Presumably the OP would have needed to provide ID to access this account anyway, once they discovered it existed. 

OP, has a JISA been mentioned in dispatches at all? It's an ISA specifically for U18s that is then converted into an ISA upon adulthood. But not automatically. Crucially, opened up by adults, legitimately, acting on the child's behalf. 

Once I found out about the ISA, I looked to see if there was a app, there was the only thing I needed was my NI number and DOB.

Looking in the app it has a transactions section and the only transaction was on the date that it was opened over 30 years ago, a good amount was put in not too little not too much. I'm only £3,000 over in the ISA.

That adds to the confusion to be honest, as ISAs for adults only started in 1999.

How old were you when it was opened?

I would have expected it to have grown significantly over that timeframe. Unless it is being chewed up by fees.

Long gone are the days where you can ordinarily access an account like that you've never used before, by simply disclosing your DOB and NIN, as those are pretty easy variables to get hold of. This is a rather unusual scenario. 

'baby bonds' (CTFs) were introduced by the Blair government in 2005, so only 20 years ago. JISA's weren't launched until 2011.

It's actually saying start date 1998 so actually that makes it 27 years.

I was a bit shocked on how easy it was to get into the account with just DOB & NI number, It did ask for the account number, but still it doesn't sound to secure.

Altior

_Jem_ said:

Altior said:

_Jem_ said:

Altior said:

It is plausible at least that this was originally a JISA. If the OP's address was not updated, they may not have received the letter to convert the JISA/ISA into their own name. Maybe it was opened with a pretty modest amount of money originally, and over time, people just forgot about it. 

Presumably the OP would have needed to provide ID to access this account anyway, once they discovered it existed. 

OP, has a JISA been mentioned in dispatches at all? It's an ISA specifically for U18s that is then converted into an ISA upon adulthood. But not automatically. Crucially, opened up by adults, legitimately, acting on the child's behalf. 

Once I found out about the ISA, I looked to see if there was a app, there was the only thing I needed was my NI number and DOB.

Looking in the app it has a transactions section and the only transaction was on the date that it was opened over 30 years ago, a good amount was put in not too little not too much. I'm only £3,000 over in the ISA.

That adds to the confusion to be honest, as ISAs for adults only started in 1999.

How old were you when it was opened?

I would have expected it to have grown significantly over that timeframe. Unless it is being chewed up by fees.

Long gone are the days where you can ordinarily access an account like that you've never used before, by simply disclosing your DOB and NIN, as those are pretty easy variables to get hold of. This is a rather unusual scenario. 

'baby bonds' (CTFs) were introduced by the Blair government in 2005, so only 20 years ago. JISA's weren't launched until 2011.

It's actually saying start date 1998 so actually that makes it 27 years.

I was a bit shocked on how easy it was to get into the account with just DOB & NI number, It did ask for the account number, but still it doesn't sound to secure.

Are you certain it's an ISA? Babies don't get issued NINs, people only get issued them when reaching age 15/16. 

(or if ancient like me, you got sent a physical card!)