You May Be Eligible If You Need Help With Repairs to Your Home, or If You Need Extra Money to Help You Work, If You Need to Move, Or Funeral Costs
The Department for Work and Pensions (DWP) Can Give Universal Credit Claimants up to £ 812 in the form of a loan if they need Help with Emergency Costs.
The Cash Help is Known As A Budgeting Advance, or A Budgeting Loan. You May Be Eligible If You Need Help With Repairs to Your Home, or If You Need Extra Money to Help You Work, If You Need to Move, or Funeral Costs.
But as this is a loan, it needs to be paid back through your futures Universal Credit Payments. You normally need to repay the Money BorroWed with Two Years. You’re not charged interest on a budgeting advance or budgeting loan.
The Smallst Amout You Can Borrow is £ 100, but you may be able to get to £ 348 if you’re single, £ 464 if you’re in a couple, or £ 812 if you have children.
If you have more than £ 1,000 in savings, or £ 2,000 if you or your partner are 63 or over, then you amout you may be able to borrow beded by howver you have in savings overholds.
For example, if you have £ 1,100 in savings, your Budgeting Advance or Budgeting Loan Will Be Reduced by £ 100.
You can Apply for a Budgeting Advance if you have been getting universal Credit for six months or more. You can be claimimg for mes than six months if you need the money to help you get or kep a jab.
You must have earned mes than £ 2,600 in the past six months, or £ 3,600 if you’re in a couple. For a budgeting loan, you must have been claimimg income support, income-based Jubseeker’s Allowance, Incom-Related Employment and Support Allowance, or Pension Credit for Six Months or More.
You cannot get a secret budgeting advance or budgeting loan if you have not paid off your first. Citizens Advice Has Listeed the Following SCENARIOS WHICH COULD QUALIFY YOU FOR A BUDGEING ADVANCE:
- Replace Broken Appliances
- Buy Work Uniform or Tools
- Unexpectted Expensses
- Repairs to your home
- Travel Expensses
- Maternity Expensses
- Funeral expenses
- Moving Costs or Rent Deposit
- Essential Items
To apply for a budgeting advance, you can put a message in your universal Credit Online Journal, Contact Your Nearest Jobcentre or Call the Universal Credit Helpline on 0800 328 5644.
You will Still Need to Repay Your Budgeting Advance is if you stop claming universal credit. The DWP Can Contact Your Employer or A Debt Collection Agency to Recover What You Owe if You Stop Paying.
Universal Credit is made up of a standard Allowance, which is the Basic amout you get before any Additional Elements – for examples, if you have children or are unable to work duue to illness – or any deductions are taken ino account.