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SAVINGS LIMIT
- Mind
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8 years 2 months ago #152190 by Mind
SAVINGS LIMIT was created by Mind
Hi Can somebody help Urgently please.
If you are under 60 what are the "Savings Limit"?
I am in the ESA support group and may be due compensation for disrepair from my landlord however, I will have to replace damaged items (cooker, household items - totalling about £2000) that have been damaged from this amount, I also owe family £4,000 in loans and £1200 in rent and £250 in council tax), Utilities: £1500. At what point will the DWP, Council Tax & HB reduce my entitlements to these benefits. I cannot find any answers. Can I claim the debts mentioned above from the compensation before it is counted as savings?
Thank you.
If you are under 60 what are the "Savings Limit"?
I am in the ESA support group and may be due compensation for disrepair from my landlord however, I will have to replace damaged items (cooker, household items - totalling about £2000) that have been damaged from this amount, I also owe family £4,000 in loans and £1200 in rent and £250 in council tax), Utilities: £1500. At what point will the DWP, Council Tax & HB reduce my entitlements to these benefits. I cannot find any answers. Can I claim the debts mentioned above from the compensation before it is counted as savings?
Thank you.
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- Gordon
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8 years 2 months ago #152226 by Gordon
For Income Related Benefits such as ESA(IR) and Housing Benefit the limit is £6000 after which there are deductions from your benefit. Savings, assets and cash above £16,000 will stop payments completely.
For Contribution Based benefits such as ESA(CB) there is no effect.
I would recommend that you get face to face advice from a trained advisor before you make any decision about what you will do.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic SAVINGS LIMIT
Mind wrote: Hi Can somebody help Urgently please.
If you are under 60 what are the "Savings Limit"?
I am in the ESA support group and may be due compensation for disrepair from my landlord however, I will have to replace damaged items (cooker, household items - totalling about £2000) that have been damaged from this amount, I also owe family £4,000 in loans and £1200 in rent and £250 in council tax), Utilities: £1500. At what point will the DWP, Council Tax & HB reduce my entitlements to these benefits. I cannot find any answers. Can I claim the debts mentioned above from the compensation before it is counted as savings?
Thank you.
For Income Related Benefits such as ESA(IR) and Housing Benefit the limit is £6000 after which there are deductions from your benefit. Savings, assets and cash above £16,000 will stop payments completely.
For Contribution Based benefits such as ESA(CB) there is no effect.
I would recommend that you get face to face advice from a trained advisor before you make any decision about what you will do.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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