DWP Budgeting Loan Repayments

Bogof_Babe

Why do you need such a large washer and f/f if it's just the two of you?

Have you tried putting a "wanted" ad on Freecycle?

DaisyFlower

Bogof_Babe wrote: »

Why do you need such a large washer and f/f if it's just the two of you?

Have you tried putting a "wanted" ad on Freecycle?

I was wondering that too, there wont be much washing for just one adult and a child.

If you are limiting yourself to a job within school hours then your chances are very slim. Your child will be at high school in a couple of years so no reason to work just school hours - opening up your hours will increase the number of jobs available greatly.

Not sure why you cant afford to work?

bestpud

If you are using the excess for utility bills, you will be paying out less for them so that money can be used for the repayment.

You've said you overestimated the cost, on advice, so you know you don't need to spend the full amount on the fridge and washing machine.

Buy what you need rather than what you want.

Either pay the excess back straight away or put it in a savings account and use it to meet the repayment when you have expensive months. Any left in the account at the end can be the start of a rainy day fund so you don't need to borrow again.

As an aside, won't you be moving onto JSA soon, of your child is 8?

KimYeovil

So you are seeking to fraudulently claim extra money from an interest-free loan that is designed for necessities and are complaining at the trivial repayment rate? A net income of more than £600 per month but claim to not be able to pay back £12 per week? (In spite of projected savings on utility bills.) Don't be silly. Normal people would have spent the past few months of summer saving up money to pay for any new school uniforms - you have chosen not to do but are instead deciding to use an interest free lump sum loan.

Nothing wrong with buying a solid, decent new pair of white goods - can prove to be more sensible than gambling on second hand - but now you are quibbling about paying for them.

You really have to learn how to manage your own money - save up as you go along (likely to be a lot more than £12 per week) or take the babyish automatic deductions via a budgeting loan.

You can ask for longer repayment terms but you have not made a just case at all (not that your case being completely unjust is a reason for them to insist on original terms.)

[Deleted User]

6kg Load Washing Machine - £180
http://www.argos.co.uk/static/Product/partNumber/4782441/c_1/1%7Ccategory_root%7CKitchen+and+laundry%7C14418476/c_2/3%7C15701316%7CWashing+machines+and+tumble+dryers%7C14418685/c_3/4%7Ccat_14418685%7CWashing+machines%7C14418686.htm


Smaller Fridge Freezer - £130
http://www.argos.co.uk/static/Product/partNumber/4866680/c_1/1%7Ccategory_root%7CKitchen+and+laundry%7C14418476/c_2/3%7C15701302%7CFridges+and+freezers%7C14418615/c_3/4%7Ccat_14418615%7CFridge+freezers%7C14418636.htm

Larger fridge freezer - £160
http://www.argos.co.uk/static/Product/partNumber/4866941/c_1/1%7Ccategory_root%7CKitchen+and+laundry%7C14418476/c_2/3%7C15701302%7CFridges+and+freezers%7C14418615/c_3/4%7Ccat_14418615%7CFridge+freezers%7C14418636.htm

Buy both together and you pay £9 delivery.

Both white goods + uniform would come to less than £400.

A friend of mine works for DWP and deals with budgeting loans. They look at the Argos catalogue for examples so you may find you're unlikely to get £600 when you can get a f/f & w/m for under £320.

Ermieox

OK, many thanks to those of you with helpful comments and suggestions.

To the rest of you, I truly hope that none of you find yourself in the same horrendous situation that I am in. It is embarrassing, demoralising and incredibly frustrating. I have worked my backside off ever since leaving school - which is more than a lot of the population of this country can say - and for many years had several jobs at a time in order to pay the bills.

In the last 24hrs I've actually been offered a loan from a friend at a rate I can afford to pay back so thankfully it looks like my problem is now solved. It's good to know there are still some kind and generous people out there...

dreamylittledream

*rolls eyes*

If someone could actually get of their high horse and actually answer the poor OP's question as opposed to questioning her shopping choices with the loan amount then we might make some progress.

The standard repayment rate on a Social Fund loan is 12% of income. This can and will be reduced if you have other commitments (there is a space on the BL form to list them and they should be entered by the Admin Officer processing the loan but they frequently aren't - takes longer you see)..

Commitments are any form of other repayments, debts, arrears etc (they don't count normal bills in this).

The best bet is to accept the offer on the terms offered and then write into your local social fund office and ask for the loan to be resheduled becuase if your commitments (you will need to list them in the letter). If you decline the terms offered it will take a lot longer to get any money.

As for all those who have criticised the OP - budgeting loans of up to £812 are available to anyone who has been income based benefit for over 6 months. The OP is entitled to borrow this money on interest free terms and spend it on whatever she feels like.

You may or may not agree with the principle of this but that is not the OP's fault so why take it out on her?

Orville

dreamylittledream wrote: »

*rolls eyes*

If someone could actually get of their high horse and actually answer the poor OP's question as opposed to questioning her shopping choices with the loan amount then we might make some progress.

The standard repayment rate on a Social Fund loan is 12% of income. This can and will be reduced if you have other commitments (there is a space on the BL form to list them and they should be entered by the Admin Officer processing the loan but they frequently aren't - takes longer you see)..

Commitments are any form of other repayments, debts, arrears etc (they don't count normal bills in this).

The best bet is to accept the offer on the terms offered and then write into your local social fund office and ask for the loan to be resheduled becuase if your commitments (you will need to list them in the letter). If you decline the terms offered it will take a lot longer to get any money.

As for all those who have criticised the OP - budgeting loans of up to £812 are available to anyone who has been income based benefit for over 6 months. The OP is entitled to borrow this money on interest free terms and spend it on whatever she feels like.

You may or may not agree with the principle of this but that is not the OP's fault so why take it out on her?

Because they are morons with nothing better to do.:eek:

millym

Ermieox wrote: »

OK, many thanks to those of you with helpful comments and suggestions.

To the rest of you, I truly hope that none of you find yourself in the same horrendous situation that I am in. It is embarrassing, demoralising and incredibly frustrating. I have worked my backside off ever since leaving school - which is more than a lot of the population of this country can say - and for many years had several jobs at a time in order to pay the bills.

In the last 24hrs I've actually been offered a loan from a friend at a rate I can afford to pay back so thankfully it looks like my problem is now solved. It's good to know there are still some kind and generous people out there...

Glad to hear you've found another solution. I know exactly what you're going through as I've been there myself, and it takes time and a lot of adjustment to be able to live on benefit and budget properly when you've been used to a wage coming in, but you'll get there, and things will get easier.

I too have been advised in the past by the DWP to ask for a larger amount of loan than I need, as they will only grant you a percentage of what you ask for, so I think its a bit unfair to accuse the OP of fraud for following DWP advice.

Vader123

dreamylittledream wrote: »

*rolls eyes*

If someone could actually get of their high horse and actually answer the poor OP's question as opposed to questioning her shopping choices with the loan amount then we might make some progress.

If someone is taking a loan and then moaning about the repayments, surely it makes sense to suggest taking less of a loan?

Is it not common sense and very much in the ethos of MSE?

Vader