Criminal compensation & tax credits

[hoodeeharhar]

I am applying for criminal compensation after a traumatic attack , and will probably be entitled to around £10,000.
I'm on tax credits and know I can have £6000 savings before they are stopped.
But I owe my parents £7000 and will use the compensation to repay them.

Will tax credits stop, triggered by the initial amount, or will they take into account my debt and that in effect I'll only have £3000 savings?

I'm a lone parent with a Sen child, self employed and feel in a very vulnerable position.
Thanks

There is no savings limit on tax credits, you just need to declare any interest over £300 a year I think.

babyroobs I could've sworn it was £6000 limit? Has it changed recently?

Universal Credit and Housing Benefit have £6k savings limits but Tax Credits has no limit :)

Oh brill, thanks for that. 👍🏻