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
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
