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DWP and bank statements


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I have been asked to supply bank statements..not an issue as all above board.

 

I lent my daughter some money via a loan taken out with my bank as I didn’t have the money to lend myself, but have a good credit rating so able to get a loan.  She is slowly paying me back every month. This is paying the loan off.

 

Does this count as income as she is just paying a debt she owes me , or will it be ignored.

 

Thanks

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Hi.

 

Other people know more than I do about benefits but logic would say that if you have a loan that you're repaying to the bank and your daughter is paying you, it wouldn't count as income. I assume you aren't making a profit on the loan repayments?

 

You could add an explanation of what the payments in are to clarify.

 

HB

Illegitimi non carborundum

 

 

 

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12 minutes ago, honeybee13 said:

Hi.

 

Other people know more than I do about benefits but logic would say that if you have a loan that you're repaying to the bank and your daughter is paying you, it wouldn't count as income. I assume you aren't making a profit on the loan repayments?

 

You could add an explanation of what the payments in are to clarify.

 

HB

Hi, thanks. No profit. It is purely the amount of the loan payment that is being taken out of my bank account. 
 

Not sure how far my bank statements go back. If they go back a couple of years when I took the loan it shows it coming into my account and then going out into my daughters account. She is just paying it back each month.

 

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Thank you. I expect other people will advise if they can chip in.

 

I moved your topic by the way, it's in the Benefits forum now.

 

HB

Illegitimi non carborundum

 

 

 

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If you took out a loan, when the money was received into your account, I suspect this triggered an alarm.  As Banks do provide some data to DWP to help tackle benefit fraud.  It can take ages for DWP to act on information received.

 

So when you provide the Bank statements, also show the loan agreement for the money that was paid in and explain that you gave this to your daughter who is paying you back.

 

It won't count as income, but as the repayments from your daughter come back into your Bank, they will be part of your capital savings and investments. 

We could do with some help from you.

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8 minutes ago, unclebulgaria67 said:

If you took out a loan, when the money was received into your account, I suspect this triggered an alarm.  As Banks do provide some data to DWP to help tackle benefit fraud.  It can take ages for DWP to act on information received.

 

So when you provide the Bank statements, also show the loan agreement for the money that was paid in and explain that you gave this to your daughter who is paying you back.

 

It won't count as income, but as the repayments from your daughter come back into your Bank, they will be part of your capital savings and investments. 

Thanks.

 

It wouldn’t have triggered an alarm. The loan was over two years ago.

 

The issue,  is that I sold and moved home at the end of November last year. I informed DWP immediately and they did not act on it until last month.

 

I have just received another letter today asking for bank statements right back until last November. 
 

I understand what you say about saving but the money goes straight out again as a loan repayment.

 

My concern is that the DWP may see it as income when it is not. Its purely my daughter paying back money she effectively borrowed from me.

 

I am well under the allowance for savings.

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When you sold the property did you receive any sale proceeds into your account ?

We could do with some help from you.

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1 hour ago, unclebulgaria67 said:

When you sold the property did you receive any sale proceeds into your account ?

Yes, and they went straight out to purchase my new property.

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 Which is OK,  but had you told them about this at the time, they would probably have not contacted you, as they would have made notes about this temporary capital you had.

 

 

We could do with some help from you.

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2 minutes ago, unclebulgaria67 said:

 Which is OK,  but had you told them about this at the time, they would probably have not contacted you, as they would have made notes about this temporary capital you had.

 

 

I think my reply to your previous question has gone astray.

 

Yes  informed them that I had sold my previous home back in November. I received the proceeds into my account and immediately they went back out to pay for new property.

 

DWP just changed my address but didn’t ask for any paperwork.

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Should be straightforward in that case, as you told DWP at the time and the home proceeds went directly into buying another home.

 

What should have happened at the time of the sale proceeds being received and you telling DWP, is that a Decision Maker action should have been raised by the DWP office you contacted.   If this had happened, you would have provided all of the information that the Decision Maker required.  If a benefit claimant receives sale proceeds from the sale of their main home and they then use this to purchase another main home within a short period, is that they disregard the sale proceeds capital for a period.

 

So the DWP request being made now, is due to the process not being gone through earlier.

 

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

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