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I have debts of over £8000 and monthly repayments of over £400 with ever increasing interest rates now over 40% on some of the debt and now I am struggling to meet living cost's and i am now getting depressed about the situation .

 

My situation is that i am on the support part of Income based ESA due to 7 medical conditions : Stage 3 cancer which ended my employment ----Cerebal svd---Hypothyroidism--Severe asthma --High blood pressure--Costochondritis--Bilateral plantar fasciitis and now checking for metstatic cancer due to worsening bone pain and left side paralysis at night which badly effects my sleep.

 

My wife works part time (10 hrs per week ) most of earnings is taken away from my ESA payment and the remainder about £11 just covers my fuel cost to take her to work each day. I have one child aged 13 and one aged 19 at University living with us.

 

About 3 months ago i contacted my private pension provider about accessing my pension earlier and they confirmed that my medical conditions met this criteria but i would need to fill in forms and have them signed by my doctor .I have done this and now have received information from my pension provider that i can withdraw my entire pension pot of £29000 minus bonus penalties and tax liabilities .

 

My question is i want to clear all my debts --purchase a reliable car as mine is 13 years old with little or no chance of passing an mot in 2 months time and use some of the remaining money to purchase a funeral plan .I also require some medical aids to help me at night as i sleep on the floor on a matteress in the frontroom as i cannot access the stairs at night due to balance issues and i need to the toilet 2 or 3 times a night .

 

I have been advised that my ESA will stop as they will see me using the money as deprivation of capital and this is why i am asking for advice as i have know where else to turn to now if this is the case .

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lets deal with the debts first

who do you owe what

you shouldn't blindly be paying a dca on a debt?

have ever sent anyone a cca request

 

tell us about yours debts


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lets deal with the debts first

 

Agreed. The first step would be to write to the creditors asking them to freeze the interest and then looking at reclaiming any unfair charges & PPI.


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To be fair dx and Mr.P, your not answering the question.

 

Original poster..

As long as you can show were the money went, ie pay your debts, purchase reliable transport, buy medical aids- maybe not essential but will make your life easier and the like you'll be ok.

As long as the remaining balance does not exceed the threshold.

 

What the DWP mean I your not purposefully getting rid of money to intentionally go below the threshold

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Thank you for your replies they have been helpful to a degree ----I have come to the conclusion if i stay as i am i will fall on my sword so to speak and if i take the money that i have paid in all my life i might fall on my sword anyway but least its some light at the end of the tunnel in relation to my financial situation and maybe a little help in the medical side as well with less stress.

 

I will take the money --keep all receipts and be wise with what i purchase and keep them informed all the way of what i am doing and let fate run its course.

 

Once again thanks for you replies.

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