Hello my name is ***** ***** I will help you with this.
To be clear you have in EXCESS of £16,000 capital - is that right?
Yes that's right but I did have 48000 to start with
You have more than £16,000 now?
So you had more than £16,000 at one point? They have stopped your benefit is that right?
I don't get benefits only tax credits and that's still going
Ok - but you had more than £16,000 at one point?
Its bad news then. It looks like you disposed of the excess capital. I know you have paid off debts but you are seen to have otherwise disposed of it
What you can do is appeal the decision with Tax Credits
That means it would go to a Tribunal and then be decided by an independant body
But usually if you have had any capital over £16,000 and disposed of it, by debts or giving it away, they can stop the benefit
I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest
Can I clarify anything for you about this today please?
Do why was I told savings don't matter unless they make 300 a year in interest it feels like I've sold my house for nothing
Its capital generally of £16,000 a year or more. But given the low interest rates they may allow interest of £300 or under.
But as I said if they do stop the tax credit you can appeal and it will go before an independent Tribunal
So I am in trouble now
I agree it is unfair, but sadly those are the Regulations that cover tax credits. You should declare any change now to prevent them finding out, which looks worse
Can I clarify anything else for you?