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- saud
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5 hours 10 minutes ago #311040 by saud
loan was created by saud
I am on UC, I have just given my son a loan for 2000 pounds interest free and he will pay me back slowly, I have informed UC, is this still classed as me having capital ?
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- latetrain
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3 hours 48 minutes ago #311049 by latetrain
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by latetrain on topic loan
Hi saud
Yes, it would be classed as notional capital, if your total capital is below £6k, then your UC will not be affected.
Between £6k and £16k, every bundle or part bundle of £250 over £6k you will lose £1.00 pw in tariff income. If you have over £16k, then you will lose your means tested benefits.
Gary
Yes, it would be classed as notional capital, if your total capital is below £6k, then your UC will not be affected.
Between £6k and £16k, every bundle or part bundle of £250 over £6k you will lose £1.00 pw in tariff income. If you have over £16k, then you will lose your means tested benefits.
Gary
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- saud
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3 hours ago #311054 by saud
Replied by saud on topic loan
for every 250 pounds over 6000 , inches thought they cut 4 pounds 25 pence ?
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- latetrain
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2 hours 24 minutes ago #311055 by latetrain
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by latetrain on topic loan
Hi saud
£1.00 per week is equivalent to £4.33 per month. As UC is paid monthly the they would deduct £4.33 per month for every £250 bundle or part bundle over £6,000.00.
Gary
£1.00 per week is equivalent to £4.33 per month. As UC is paid monthly the they would deduct £4.33 per month for every £250 bundle or part bundle over £6,000.00.
Gary
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