UC & Personal Injury Payment

NedS

Well done - that's great news for you.

Have you found a financial institution that will open a suitable Trust account for you that will allow you to invest the money or receive a meaningful amount of interest?

HillStreetBlues

https://forums.moneysavingexpert.com/discussion/comment/82062879#Comment_82062879

Thanks @Ned, been a 4 year battle, they tried to low ball me, but stood my ground.

I'm not putting it into a Trust account, I will be putting it into a normal joint account, case law supplied by @Yamor and the Sweet & Maxwell commentary supports this is classed as "in Trust".

NedS

https://forums.moneysavingexpert.com/discussion/comment/82062900#Comment_82062900

OK. Are there any Trustees besides yourself?

The reason I ask is that it is becoming ever more difficult to manage assets held in Trust as most financial institutions no longer offer Trust accounts.

HillStreetBlues

https://forums.moneysavingexpert.com/discussion/comment/82062910#Comment_82062910

My friend who was also involved in the crash. I did a lot of research and hardly any bank does a Trust account, so the ones that do can get away with paying very little interest. Because of the ruling above, I don't need to put in an actual Trust account, being in a standard joint bank account counts as being "in trust".
I expect there will be a few hoops to jump, but battle ready for that.

Yamor

Good news, well done!

Only thing I would say is that you are unlikely to be able to appeal about the capital before it hits £6k, as appeals are always against "outcome decisions", and not against determinations along the way which end up having no effect on the outcome decision. The outcome decision here would be correct until you go over the £6k mark.

HillStreetBlues

What can I declare as personal injury payment to the DWP?
The MIB agreed to my offer, but one of my experts( A) I didn't agree with, so instructed another one (B). I went with B, so had to pay A myself (B was covered by the costs).
The solicitors deducted A's fee from the payment (MIB agreement - A's Fee = balance)

Can I declare what MIB agreed, or do I have declare the balance (the payment I actually received)?

kaMelo

I would think the amount you actually received after paying A's fees.

You were awarded £x but have effectively 'spent' some paying A's fees. If you declared the total award and anyone asked questions you have no documentary evidence of paying A's fees from anywhere else other than from the award you received.

If you had paid A's fees from your own accounts then I would think differently and say you could declare the whole award.

Purely my opinion of course based upon nothing of significance so I could be completely wrong..

HillStreetBlues

https://forums.moneysavingexpert.com/discussion/comment/82072074#Comment_82072074

That's my thoughts.
I did pay for other stuff myself (well on a interest free credit cards) to avoid a bigger deduction.

HillStreetBlues

I finally submitted the PI payment amounts today. I thought I would see how long it would take them to detect that I had over £16k in my bank account, but a random "Check and confirm your claim details" appeared at the beginning of the month so had to confirm correct monies. Pity really, as i was wondering how many months I could have gone.

HillStreetBlues

All very strange.
Within half an hour my friend UC account was suspended until they checked capital and proof of personal injury payment.

I submitted mine on the 7th Sep have heard nothing (well over £16k)
What is even stranger, is they have updated my capital to £0 (from £2k) even though I declared about £4k that is counted for UC.