Budgeting Loan

Jay_1987 · 10 November 2022 at 9:42AM

I am currently on ESA WRAG and was looking in to a budgeting loan. I applied and received a budgeting loan going back a few years back and remember it took quite some time for the application to go through, and get accepted. When investigating I see you can now get your decision via text or email. I was just wondering if anyone had applied recently and how long it took for the money to come through? I also can’t remember how much my fortnightly repayments were? Does anyone know how much you usually pay back fortnight off of your benefit?

Thank you.

poppy12345 · 10 November 2022 at 10:05AM

The quickest way to apply now is online. Last time i applied was the beginning of the year. I applied and had a text 2 days later telling me that they can offer me the loan. About an hour later i had another text saying that my loan would be in the bank 5 days later, which it was. From applying to being in my bank it was 7 days, which included a weekend. About £11 a week is what i pay back.

If you applied any other way then obviously it will take longer.

Jay_1987 · 10 November 2022 at 10:22AM

poppy12345 said:

The quickest way to apply now is online. Last time i applied was the beginning of the year. I applied and had a text 2 days later telling me that they can offer me the loan. About an hour later i had another text saying that my loan would be in the bank 5 days later, which it was. From applying to being in my bank it was 7 days, which included a weekend. About £11 a week is what i pay back.
If you applied any other way then obviously it will take longer.

Fantastic. Thank you so much for the info.