standard financial statement

[barryl]

Hi folks,

I would like to know please if carers allowance is added to your total income when a bank is assessing your total income and ability to pay on the standard financial statement? thankyou

 

[Commercial]

Yes is my opinion.
It is an income and will go towards your living expenses

 

[barryl]

Yes is my opinion.
It is an income and will go towards your living expenses

thanks for your opinion,but what i need is a factual reply

 

[wbbs]

Yes, why would it not be, it's income.

 

[barryl]

thanks but i think its an allowance to cover the cost of care and not an income to be used against personal living expenses.I have costs associted with caring.

 

[wbbs]

The costs will go in under the various headings for costs. It is income, is there a section for social welfare payments received?

 

[barryl]

theres a section for social welfare income but nothing for associated costs related to caring

 

[ang1170]

There's a catch all "Other" section. You may find it useful to read the Central Bank's "Mortgage Arrears - A Consumer Guide to Completing a Standard Financial Statement". It makes clear you should include all household income from whatever source and all expenditure. If you think about it, it would be next to impossible to do a full assessment otherwise, as in many cases the benefit received won't cover the full cost of the expenditure.

 

[wbbs]

The payment goes in under social welfare and as above, detail any extra expenditure not covered by any of the expenses categories in the 'other' section. All income coming in to the house must be detailed otherwise it is an inaccurate picture.