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release of capital
- Mugwump
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13 years 8 months ago #52420 by Mugwump
release of capital was created by Mugwump
After four long years, I have finally signed a contract on the house I owned in France. I think my share will be around 40K. Debts (credit cards and family loans) incurred over the last six years will eat a bug chunk. Before I go any further, let me say I appreciate how lucky I am to get this money. Here's my question: what are reasonable ways to spend the money and be able to claim means-tested benefits again (ESA and HB/CTB)??
For example, because of my health, I would like to change my car for one that is easier for me to use. I have been living with second hand furniture. Are these reasonable things to spend the money on??
For example, because of my health, I would like to change my car for one that is easier for me to use. I have been living with second hand furniture. Are these reasonable things to spend the money on??
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- Survivor
13 years 8 months ago #52422 by Survivor
Replied by Survivor on topic Re: release of capital
The law doesn't specify what is or is not reasonable.
It is not assumed to be reasonable to pay off all your debts in one lump sum, odd as this may sound.
It may be, however, that individual members on here have experiences of particular items of expenditure being considered to be reasonable.
It is not assumed to be reasonable to pay off all your debts in one lump sum, odd as this may sound.
It may be, however, that individual members on here have experiences of particular items of expenditure being considered to be reasonable.
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- Gordon
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13 years 8 months ago - 13 years 8 months ago #52423 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic Re:release of capital
Mugwump
You need to get face to face to advise on this matter as the rules are complicated and often the result of a Decision Maker taking a view on the circumstances.
In general terms, using your capital to make discretionary purchases is not allowed, so buying a car could be a problem, whereas paying the mortgage would not.
Gordon
You need to get face to face to advise on this matter as the rules are complicated and often the result of a Decision Maker taking a view on the circumstances.
In general terms, using your capital to make discretionary purchases is not allowed, so buying a car could be a problem, whereas paying the mortgage would not.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Last edit: 13 years 8 months ago by Gordon.
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