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Just paid of Budgeting loan - Can I get another one?
mad_max_2
Posts: 20 Forumite
I have just finished paying of my budgeting loan from last may - the social are sending me a budgeting loan form,tney said as long as you're on Income ESA you can apply
Will I get another loan do you think?
max
Will I get another loan do you think?
max
0
Comments
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Yes.
You have no outstanding budgeting loan debt and so long as your income related ESA has been in effect for 26 weeks or longer, and so long as you need the loan for the reasons listed in the application, there is no reason why you wouldn't get one.0 -
If you do get one, expect a letter in about 15 years asking for it back. :rotfl::rotfl::rotfl:0
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You can get a budgeting loan even if you currently have one. If I'm correct, the minimum you can apply for £100 so as long as you have paid back at least £100 you can apply.
As your debts to the social fund are now paid off, you can reapply.0 -
missapril75 wrote: »If you do get one, expect a letter in about 15 years asking for it back. :rotfl::rotfl::rotfl:
Absolutely!!!
No one really cares if it gets paid back on time or not. And if they come back looking for the money in 15 years time - just offer them 50p a month cos that's all you can afford and they'll accept it!
Shame we can't do the same to the banks.0 -
benniebert wrote: »Absolutely!!!
No one really cares if it gets paid back on time or not. And if they come back looking for the money in 15 years time - just offer them 50p a month cos that's all you can afford and they'll accept it!
Shame we can't do the same to the banks.
There are fixed percents they stop out of benefits now i think so 50p a month wont do0 -
There always were fixed percentages. Which one applied depended on other debt repayments.micky2phones wrote: »There are fixed percents they stop out of benefits now i think so 50p a month wont do
The more other debts you have the lower the loan repayment rate - but the lower the loan you'll get too.0
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