Are you looking for the budgeting loan contact number? If you are struggling to pay for essential items such as your rent or furniture, you could get assistance from the Government to help overcome your difficulties. This is known as a Budgeting Loan.
What is a Budgeting Loan and how can it be used?
You could get a Budgeting Loan to help pay for things that are essential to you and your family’s livelihood, such as your rent, clothes, furniture and debts from hire purchases. The smallest amount that you can borrow as a loan is £100, the maximum amount is £1500. Unlike payday loans, Budgeting Loans are interest-free, so you only have to pay back the exact amount that you borrow. Generally, the loan has to be paid back within 104 weeks of you receiving it. If you have been a recipient of income-related benefits for 26 weeks, you can apply for the loan. This will not affect your other benefits.
Factors that will affect the amount you receive
How much you receive as your budgeting loan depends on your individual circumstances. Factors that can affect this can include:
• Your marital status.
• Whether you have children and the amount that you have.
• Your ability to pay the loan back.
• The amount of savings you have.
• Whether you already owe money to the Social Fund.
Loans are usually paid into your bank account.
To find out about more factors that may affect your claim, or for an individual case analysis, call the Budgeting Loan telephone number.
In order to qualify for a Budgeting Loan, you or your partner must have been receiving one or more of the following benefits for at least 26 weeks: Income Support, Pension Credit, income-based Job Seekers Allowance or income-related Employment and Support Allowance.
If you receive Universal Credit, time spent claiming one of the above benefits immediately before moving to Universal Credit will count towards the 26 weeks that is necessary to receive the loan.
If you have savings of over £1000, or £2000 if you or your partner is over state pension age, you will not be eligible for a full Budgeting Loan.
If you currently owe £1,500 or more to the Social Fund already, you will not be able to claim for a Budgeting Loan.
What can a Budgeting Loan pay for?
A Budgeting Loan can help you to pay for:
- Clothing or footwear.
- Furniture or household equipment.
- Removal expenses when moving home.
- Things to help you look for or start work.
- Travelling expenses.
- Improving/maintaining/securing your home.
- Funeral or maternity expenses.
- Repaying hire purchase debts or debts you have taken out to pay for any of the above.
How do I claim a Budgeting Loan?
To apply for a Budgeting Loan, you need to print off and fill in claim form SF500 and send or take it to your local Job Centre Plus. You can also get the form from here if you do not have access to the website or a printer. If you have any questions about your claim, you should speak to an advisor in your local centre, or call the number on this page.
What happens if I am unhappy with the decision made?
If you are unhappy with a decision that was made about your Budgeting Loan, you can ask for it to be reviewed. To do this, you must write to the local Job Centre Plus within 28 days of you receiving the decision, explaining why you believe that it was wrong. If you still think that it is wrong after the review, you can ask for a further review conducted by the office of the Independent Case Examiner, which should take no longer than 21 working days.