Budgeting loan ?

[Rhi_Rhi1]

Has anyone borrowed any money from the social fund this way ? .. was just being nosey as to what the repayments are like ... i know it is interest free. But that is all i know Thanks

 

[besterd]

Well with the budgeting loan you will usually have to repay it within 104 weeks. It will automatically be taken off any benefits that you get but if you do not get any benefits then you can negotiate it with them...

 

[DizzyMoo]

I regularly get budgeting loans , Max i've had is £1000 , but i was told my limit was £812 .
I get 2 a year & if i want another like now i just ring up 1st ask them how much i owe & how much i am allowed to borrow, They tell me xyz amount is free for me to borrow & that is what i ask for , Ive never once been refused x

Im trying to find the phone number now coz ive lost it & cant bloody find it .

I pay back £13 a week as i usually borrow £500 a time, But my 1st loan of £300 i think i paid £7 a wk back x

 

[Rhi_Rhi1]

OO gosh, i need like 1000 :/ i hope its not too much to repay.
I want to pay off my debt that my EX left me in, and i wouldnt rather owe them, then the baliff company lol...

 

[Katieeeee]

I've just applied for one myself, they're giving me £812 and I have to pay back £16 per week.

 

[suzib76]

do you need to be on benefits?

 

[Katieeeee]

do you need to be on benefits?

Yeah, I think you need to have been on jsa or income support for at least 26 consecutive weeks.

 

[AppleBlossom]

I could actually really do with one of these... I've been on IS since May last year... but I know nothing about them :/ will keep an eye on this thread!

 

[suzib76]

do you need to be on benefits?

Yeah, I think you need to have been on jsa or income support for at least 26 consecutive weeks.

shame i could of done with an easy intrest free loan lol

 

[Katieeeee]

do you need to be on benefits?

Yeah, I think you need to have been on jsa or income support for at least 26 consecutive weeks.

shame i could of done with an easy intrest free loan lol

It's not fair is it! Although the point of them is so that those on benefits who can't afford to budget towards something can borrow a lump sum. It's definitely helped me out, I would NEVER have been able to save up for a cooker/fridgefreezer/washing machine/sofa/carpets/double bed/wardrobes/furniture (everything basically!)

 

[Sinead]

Its worked out at a percentage of your current income, depending on if you have any other debt. Also you have to pay it back within a certain number of weeks. And the other thing, the longer you have been on a qualifying benefit, the more you could be entitled to.

Hope that helps and that this info is still correct, its from about 3 years ago (but don't thinnk its changed)

 

[DizzyMoo]

OO gosh, i need like 1000 :/ i hope its not too much to repay.
I want to pay off my debt that my EX left me in, and i wouldnt rather owe them, then the baliff company lol...

Limit is £812 hun so you may not get £1k. x

 

[DizzyMoo]

I could actually really do with one of these... I've been on IS since May last year... but I know nothing about them :/ will keep an eye on this thread!

Ive now got the phone number at manchester if anyone wants to ring them & speak with them let me know , They will send you the forms out to fill in, & if they accept the amount you want you get sent back an acceptance form to sign & send back , The money is usually in your account about 8-9 days later.

ring them though they will tell you what you are allowed to borrow then you dont get refused x