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2 months 2 weeks ago #298875 by Maciek_M
bank loan was created by Maciek_M
Hello, will taking a loan from a bank to buy a car affect my UC benefit and are there any procedures related to this? I mean reporting it to UC, reducing my benefit or losing it and the like.
Thanks Matt

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2 months 2 weeks ago #298880 by David
Replied by David on topic bank loan
HI Matt

UC would only be interested in amounts over £6000. I expect that a bank is not going to loan someone on UC more than that though I would be interested to find out for sure. If the loan were to increase your total savings to more than £6000 you would not be penalised if you spent the loan in the same monthly Assessment Period in which you received it.

David
Nothing on this board constitutes legal advice - always consult a professional about specific problems

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