Budgeting Loan Query

Aarons_mummy

Hi everyone a quick question.

I am on the verge of moving into a private rent and really need a little extra money on top of my savings to allow me to purchase the necessary furniture for both myself and my 2 year old son to be able to live within the house.

I am currently on income support and have been for 8months. Currently I am in temporary accomodation and really want to get out of here as soon as possible so with deposit, 1st month rent upfront etc I will be left with little to kit out the house.

I have been looking into a budgeting loan and was wondering if anyone has any experience of these? Do you think it is possible I would be accepted for that? Also how is the repayments worked out? Would it always be 2 years if you decided to take out a loan or does it go by incomings/outgoings etc?

Thanks in advance I just really want to make sure it's something that I will be able to afford rather than going ahead and doing something stupid

skintsaver_2

a budgeting loan would be taken directly out of your income support each week but when you get the descion from the dwp they wil ask if you accept the amount and tell you what the repayments will be, you would be able to borrow upto £840

Also you could apply for a community care grant which wouldnt have to be paid back and is to help people in certain circumstances which you may qualify for due to living in tempoary accomodation

Hope that helps x

Indie_Kid

Have you asked the council about any deposit schemes?

Aarons_mummy

Thanks for the advice Skintsaver I wasn't sure about a community care grant but will maybe pop an application in, worst they can do is say no right?

SH1305, yes have asked about that but they only offer a deposit guarantee scheme and everywhere I've spoke to has said they don't accept it at all and the council don't have anything else they offer.

Whiteknight

If your looking for things for the home take a look at your local Freecycle group - you maybe able to get furniture without having to get a budgeting loan.

Aarons_mummy

Whiteknight I have been a member of freecycle for a while but it's deserted I suppose with the recession and people struggling they are less likely to give things away at the moment. It seems to be full of people asking for things like cars, laptops etc. I have managed to pick up dishes and a toaster from there but theres never anything else I'm afraid.

Jowo_2

Some Freecycle groups migrated to 'Freegle'. There's Gumtree freebies as well. Check if there are any furniture charity shops in your area like the Salvation Army, British Heart Foundation, etc. See if there's an Emmaus near you - they offer cheaper prices to those on benefits.

Aarons_mummy

Thanks for the advice Jowo will take a look