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Insurance pay out

Melin

Hi someone crashed into my car and the insurance company has written off my car and is giving me £6500 payout for my car l will be transferring the money to my account that has been overdrafted £2500 as l use this account more often and will be buying a new car from this account so l will not be ending up having £6000 in my account do l still need to declare this to universal credit

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Comments

Kimi87

The payout is disregarded from calculation of your capital for 6 months.

Melin

thankyou for your reply so don't l need to let them know

Kimi87

It's entirely up to you. One person will say yes inform them, another will say it's disregarded so no point.

Melin

thankyou

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