Savings over £6000 awaiting outcome

aylasnan

I have just received first uc migration statement. 2 months ago I found out savings over £6000 have to be declared. I thought it was £16000. I declared it straight away and for 2 months I've been waiting to hear a decision. I have severe mental and physical health problems and this is very hard. I have 5 years worth of overpayment. I have been bed ridden for 18 months so my money accrued. Today uc have taken £87 for the overpayment. I have heard nothing from the decision maker. uc are covering my rent and I am continuing to get esa contributions. Does any of this indicate anything regarding how much I am to owe? I just spoke to debt recovery and they have no case for me. Please can anyone help?

SLK

Your payments will be reduced by £4.35 for every £250 you have between £6,000 and £16,000. 

There are certain exemptions if your savings came from a personal injury payment etc so I'd look into it more

OverlyAnxious

Is the £87 a separate debt recovery? Or is it a capital deduction on your statement?

£87 would be the deduction for having around £11,000 in savings.

That will be deducted every month if so. If you've had £11,000 for 5 years then the repayment would be over £5000. But as the money has been building up over the years, it is impossible for us to calculate it accurately without more information.

Also as above, if you had the Cost Of Living payments, they should be disregarded. And if you had any benefit backpayments or insurance payouts then those can be disregarded for 12 months in most cases, or indefinitely if the payments were over £5000.

aylasnan

Thanks very much.

The £87 is for the statement.

I'm afraid it's a dire situation and I'm petrified.

These are my savings over the past 5 years:

2020 £8000

2021 £8000

2022 £15000

2023 £16000

2024 £16000

I thought the amount of allowed savings was £16000.

I reported the amounts immediately after finding out it was £6000 reading the UC migration letter.

It's been two months now and because of my physical and mental health I am beside myself.

I have subglottic stenosis , a closed trachea from GPA vasculitus. I spent the previous 2 years bedridden barely able to breathe. I felt secure knowing I had savings for care. I've been mostly housebound for over 5 years which is why my money accumulated. I have no social life and am completely isolated. I feel such a fool. Penalised for not being able to live my life.