When you are belonging to a low-income group in the United Kingdom, you can apply for a budgeting loan. It helps you cover all your expected and unexpected expenses. You can use it for a wide range of things and that means covering your maternity as well as funeral expenses. Alongside covering all other sorts of expenses a person will have to endure while living like traveling costs, to help you start your work and also other forms of works
When on certain benefits, you are easily eligible for the loan. Your payments should be paid back.
If you get the decision by text or email, you can get the decision within 7 days and when intimated through the letter you will get it within 21 days.
Accept the loan online or when sent by mail.
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How to Apply for Budgeting Loan Application Online?
After applying online, choose a method of online loan decision and leave a way of information either an email, letter, or text message.
Add relevant details in the given segments to complete the loan application.
You can download the SF500 form and can fill it out after printing it. You can also ask them to mail it.
What are the Application Requirements?
If you previously were part of Universal Credit and recently moved to Pension credit, you must wait for 6 months before sending the application.
North Ireland applies slightly differently for their budgeting loan. They can visit www.nidirect.gov.uk/articles/budgeting-loans for more info.
You will not be able to apply if you have a Universal card. If with a Universal card, apply for a budgeting advance instead.
You will also not get a budgeting loan if you get these below-mentioned allowances.
- A new style of job seeker allowance
- New style employment and support allowance.
- Industrial action involvement like strikes, lockouts, or walkouts.
- If you have a balance of £1,500 towards Crisis loans and budgeting loans
Budgeting Loan Eligibility
If you are eligible, you can send in your applications to them. How do you find out your application eligibility? Here are a few rules that contribute to the understanding of the budgeting loan and there are some rules that mark your ineligibility.
You must have taken any or more of the following benefits in the last six months from the government.
- Income-based job seeker’s allowance
- Employment and Support Allowance that is income-related
- Pension credit help
- Income Support schemes
Also read: 8 Easy Steps – Grad Plus Loan Application [Complete Details]
How to order a Budgeting Loan form?
To order a Budget loan form, you can call the social fund inquiry line and ask for a form posted.
The telephone numbers to use are 0800 169 0140. The textphone number is 0800 169 286 and for the Welsh language, people can use 0800 169 0240.
For Relay UK phone number is 18001 followed by 0800 169 0140.
Video relay services for British sign language are available below
Benefits
With the help of a budgeting loan, you can pay for the following
- Footwear, clothes, advanced rent, and household items or furniture items.
- Funeral costs, within the UK, if someone is traveling
- Maternity costs, Hire purchase loans, and repaying loans.
- Costs for getting a new job.
- Improvement or security maintenance at home
Also read: Are Parent Plus Loans Federal or Private?
FAQs (Frequently Asked Questions)
How long does it take to get a budgeting loan?
It takes around three weeks from the time the person applies for a budgeting loan.
Can you check budgeting loan application online?
Yes, you can check the budgeting loan application status online.
Conclusion
Here’s all about the Budgeting loan application and the various conditions around it. If you have difficulty understanding their process, do refer to this article for more information. You can not only fill the application form online but you can also order it. Once you get the form, you can fill it up manually and send it back.
