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If you on benefits and are considering a payday loan or doorstep collection loan to help with household or living expenses, and are on benefits then you should first look at the government provided crisis, social and budgeting loans.
These are generally interest free and repayments can be deducted at source.
The government is considering opening these up to people on low incomes and charging an interest rate but as yet only people who receive benefits may apply.
You may be able to get a Budgeting Loan if you get:
and you need to pay for things such as;
and have no other means of obtaining finance such as savings over more than £1000.
The maximum you can borrow is £1500.
The form you need to complete is the SF500 - which you can get from your jobcentre or download http://www.dwp.gov.uk/advisers/claim...f500_print.pdf
These are generally interest free and repayments can be deducted at source.
The government is considering opening these up to people on low incomes and charging an interest rate but as yet only people who receive benefits may apply.
You may be able to get a Budgeting Loan if you get:
- Income Support
- income-based Jobseeker's Allowance
- income-related Employment and Support Allowance
- Pension Credit, or
- payment on account of one of these benefits, and
- you or your partner have been getting one of these benefits for at least 26 weeks
and you need to pay for things such as;
- furniture and household items
- clothes and footwear
- travel costs
- costs to improve or maintain your home, or keep it secure
- rent upfront or removal costs to get to a new place
- costs of looking for or starting work, or
- hire purchase (HP) or other debts you may have in relation to the items above.
and have no other means of obtaining finance such as savings over more than £1000.
The maximum you can borrow is £1500.
The form you need to complete is the SF500 - which you can get from your jobcentre or download http://www.dwp.gov.uk/advisers/claim...f500_print.pdf
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