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What debt details do I need to provide on the income and assets test? 4.6

Debts

As well as your income and assets, you will be asked to provide information about any debts you have.   Generally, any debt secured against a particular asset is deducted from the value of that asset.

For example, debts include:

A mortgage

This refers to a mortgage that has been taken out for somebody else’s benefit.

Personal loans 

Only include the value of the personal loan if it is for an asset you have included in your assets list e.g. for a car.

Any other loans

This refers to any loan, charge or debt held over a financial or other asset that you have already listed.

Credit card debt is not included in the assessment

 

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