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Jobseekers Allowance Question

  • 02-05-2012 8:11pm
    #1
    Monkaa
    Registered Users, Registered Users 2 Posts: 203 ✭✭


    I signed onto the dole for the first time & hope to be off it asap but Ive to produce my bank statements next week at my appointment, Ive 1500 in my account...will this effect my chances of getting the full amount of dole? Someone told me to transfer it away but 1500 is hardly a lot of money to effect the decision is it?!?! Ive also got a loan to pay off (2000 left to pay) so my argument is I have that money there to make sure I dont miss a payment in the coming months.


Comments

  • #2
    eastbono
    Registered Users, Registered Users 2 Posts: 2,758 ✭✭✭eastbono


    Monkaa wrote: »
    I signed onto the dole for the first time & hope to be off it asap but Ive to produce my bank statements next week at my appointment, Ive 1500 in my account...will this effect my chances of getting the full amount of dole? Someone told me to transfer it away but 1500 is hardly a lot of money to effect the decision is it?!?! Ive also got a loan to pay off (2000 left to pay) so my argument is I have that money there to make sure I dont miss a payment in the coming months.

    The first €20000 of capital is disregarded for means testing of jsa.


  • #3
    aN.Droid
    Closed Accounts Posts: 1,911 ✭✭✭aN.Droid


    Monkaa wrote: »
    I signed onto the dole for the first time & hope to be off it asap but Ive to produce my bank statements next week at my appointment, Ive 1500 in my account...will this effect my chances of getting the full amount of dole? Someone told me to transfer it away but 1500 is hardly a lot of money to effect the decision is it?!?! Ive also got a loan to pay off (2000 left to pay) so my argument is I have that money there to make sure I dont miss a payment in the coming months.

    As said above the first 20 grand is not taken into account but would you not pay off that lump sum of your loan with your 1500 euro? You will not have to pay interest on that amount then!


  • #4
    Monkaa
    Registered Users, Registered Users 2 Posts: 203 ✭✭Monkaa


    I know, the thought has crossed my mind but if for some reason I need that bit extra to survive the next month or two, Id prefer to know I had that 1500 there as backup.


  • #5
    Fatscally
    Registered Users, Registered Users 2 Posts: 173 ✭✭Fatscally


    Monkaa wrote: »
    I know, the thought has crossed my mind but if for some reason I need that bit extra to survive the next month or two, Id prefer to know I had that 1500 there as backup.

    I agree with this, especially now that you're finacially strained let everyone wait as long as possible for their money. You will pay a bit on the interest but better to have a bit of a buffer there that'll always buy you another month if the job hunt goes slow. Giving the economy we're in I'd be pessimistic.


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