Paying off budgeting advance loan early so can I apply for another one immediately?

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ninja687
ninja687 Posts: 12 Forumite
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in Benefits & tax credits
I'm not sure which category my question falls under but would appreciate some help.

I am wondering if its possible to to pay my universal credit budgeting advance in full early and if so, how long do I need to wait before I can apply for another one? Is it possible to get another budgeting advance loan immediately or is there a cooling off period?

Would appreciate some advice.

Thanks
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  • ninja687
    ninja687 Posts: 12 Forumite
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    Just to add

    I took out a £100 advance and only have £25 left to pay. I'm in urgent need of funds and want to know if anyone else was successful in getting a second loan straight after paying the first one off?
  • ninja687
    ninja687 Posts: 12 Forumite
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    Any advice would be much appreciated.
  • MovingForwards
    MovingForwards Posts: 16,924 Forumite
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    Ask on the benefits board as you will get advice their, this board is for regular loans from banks etc.
    Mortgage started 2020, aiming to clear it in 2026.
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    ninja687 wrote: »
    Any advice would be much appreciated.

    Posting at nearly 3am you will find its pretty much a ghost town round here for some reason.
  • MallyGirl
    MallyGirl Posts: 6,626 Senior Ambassador
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    I will move this to benefits
    I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
    & Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
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  • poppy12345
    poppy12345 Posts: 17,961 Forumite
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    You can pay the existing budgeting advance early but you won't be able to apply for another until it shows on the system that you've paid the previous one off. I have no idea how long that will take.
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    Any news OP ?
  • tomtom256
    tomtom256 Posts: 2,218 Forumite
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    Just because you pay one off, doe not automatically make you elgible for another one.

    Normally it's every 6 months.
  • Grey's_Anatomyfan643
    Grey's_Anatomyfan643 Posts: 125 Forumite
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    tomtom256 wrote: »
    Just because you pay one off, doe not automatically make you elgible for another one.

    Normally it's every 6 months.

    You are wrong, it's not every 6 months at all, where did you get that information from? every people who paid they advance off can apply for another one as long as the person meets the criteria again and not earn a lot in wages and some people can get another one on the same day as when the advance payment has been repaid.

    If you don't believe me, check on Facebook groups like - Universal Credit help from The Sun - Universal Credit Essentials - UNIVERSAL CREDIT SURVIVAL!

    I think you need to do research first before you make any comments and misleading people.
  • poppy12345
    poppy12345 Posts: 17,961 Forumite
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    Grey's_Anatomyfan643 wrote: »
    You are wrong, it's not every 6 months at all, where did you get that information from? every people who paid they advance off can apply for another one as long as the person meets the criteria again and not earn a lot in wages and some people can get another one on the same day as when the advance payment has been repaid.

    If you don't believe me, check on Facebook groups like - Universal Credit help from The Sun - Universal Credit Essentials - UNIVERSAL CREDIT SURVIVAL!

    I think you need to do research first before you make any comments and misleading people.
    Calm down, we all make mistakes here, non of us are experts. Tomtom was most likely thinking of the 6 month rule, where you need to be claiming UC for this length of time before you can apply.



    As previously advised, once the existing budgeting advance has been paid back you still need to wait until this shows on the computer before applying for another. This means that you won't be able to apply straight away.
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