Hi, my name is jdlc! Am I right about reporting capital?

jdlc

Hello,

I was completely unaware of the requirement to report capital (savings) exceeding 6k until a few weeks ago. When I informed the DWP, my UC payments were stopped until I provide all the past savings. I suffer from chronic anxiety and depression, so I'm working on this matter with the help of friends.

I usually receive my UC payment on 14 the day of the month. I use my credit card for most of the payments. Could you please tell me if we've got the following right?

1. I have to report Capital (savings) on the 13th day of the month, ie. the day before the UC payment is received.

2. Capital = Current account balance – Credit card balance – Cost of living payment – Energy payments + any money owed me. For instance,

Current a/c balance = £6,250.00

Credit card balance = (£ 350.00)

Cost of living payment = (£ 300.00)

Energy payment = (£ 25.00)

Money owed by a friend = £ 100.00

Capital as at 13th day = £5,675.00 (I don't need to report this.)

Thank you.