Question by Canberra: Does Child Benefit count as income when being assessed on your ability to pay/not pay loan installments?
I have been told that Child Benefit cannot be counted as income when a bank that you have a loan with (which you cant afford to keep up the repayments on) are working out your income and expenditure.

Is it true they aren’t allowed to count Child Benefit as income or have i got that wrong?

I called my bank to say i cant keep up with the repayments on a loan (split from my partner, single mum, 2 kids, no job [at present] ) and they ran through my meager income made up of tax credits, child benefit and child maintenance & income support and said “well, by the looks of this you CAN make the repayments”

i CANT at all so i don’t know what she was on about, but if i can prove that they are not allowed to use Child Benefit when counting whether i can afford to pay the loan then i can call them back again and ask then to re-asses my income and expenditure so that i MIGHT actually be able to get some help off them – they do keep offering to help me but whenever i call the won’t do anything (HSBC)

Best answer:

Answer by Maddie

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