Budgeting loan advice

india

What the most you can receive for a budgeting loan?

And what kinda of things do you need to put on the form to get it?

Thanks in advance

sandraroffey

the amount you can be loaned depends on your curcumstances.

for a single person its about 300£.

the form they send you, has boxes to tick for what the cash is required for. it will say stuff like travel, (holidays, visits etc) furniture, clothing, other household stuff. you dont actually have to prove what you want it for.

if you are a couple or have children, i think the amount is more.

they tell you what you have to pay back per week and they take if from your benefit before you get it. interest free of course. i always have one running. it really helps out.

myself and my son and a friend have all had these loans but we have never ever been loaned the amount we asked for. it is always less!!

and it is a central phone number you have call now, you dont get it from the local dss office.takes about three weeks to go through from start to getting the money in your account.

katie1

For a single person you can have £812 max and min £100

AsknAnswer

Sorry Katie, that's not quite right. £100 is the minimum sum a budgeting loan can offer, however the £812 maximum applies to a family unit only (including single parents, or guardians who are responsible for raising a child and whom receive child benefit for that child)

The current maximum rates are £348 for a single person, £468 for a couple and £812 for a family.

If you have any current social fund debt, the sums above may be lowered to take that into account.

The minimum sum they can pay is £100.

You can ask for financial help for any of the items which are listed on the claim form (SF500).

You or your partner must have been in reciept of one of the below benefits for 26 weeks or more to meet the qualifying benefit criteria. If you have not been in reciept of one of these benefits for 26 weeks or more, you will not qualify for a budgeting loan.

Income Support
Income Based Jobseekers Allowance
Income Related Employment and Support Allowance
Pension Credit

Other matters taken into consideration is whether or not you are considered "sufficient priority". If you have never had a budgeting loan before, meet the eligibility criteria and have no Social Fund debt, then it is very likely you would get one up to the maximum rate applicable to your circumstances as described above.

stokefan

can you get a bugetting loan if your on contribution based benifits....out of interst

AsknAnswer

stokefan wrote: »

can you get a bugetting loan if your on contribution based benifits....out of interst

No, you have to be receiving one of the benefits I listed in my post above for 26 weeks or more.

katie1

AsknAnswer wrote: »

Sorry Katie, that's not quite right. £100 is the minimum sum a budgeting loan can offer, however the £812 maximum applies to a family unit only (including single parents, or guardians who are responsible for raising a child and whom receive child benefit for that child)

The current maximum rates are £348 for a single person, £468 for a couple and £812 for a family.

If you have any current social fund debt, the sums above may be lowered to take that into account.

The minimum sum they can pay is £100.

You can ask for financial help for any of the items which are listed on the claim form (SF500).

You or your partner must have been in reciept of one of the below benefits for 26 weeks or more to meet the qualifying benefit criteria. If you have not been in reciept of one of these benefits for 26 weeks or more, you will not qualify for a budgeting loan.

Income Support
Income Based Jobseekers Allowance
Income Related Employment and Support Allowance
Pension Credit

Other matters taken into consideration is whether or not you are considered "sufficient priority". If you have never had a budgeting loan before, meet the eligibility criteria and have no Social Fund debt, then it is very likely you would get one up to the maximum rate applicable to your circumstances as described above.

ok sorry ,I got it wrong only i was offerered £812 and im a single parent so was classing that a single but now you have explained i understand what your saying .
didnt mean to confused the OP .

AsknAnswer

No need to apologise, many people do get these things mixed up, wasn't having a go at you just placing the correct information out there.