Budgeting Loan Contact Number – 0843 504 0605
Budgeting Loans assist eligible applicants who are struggling to meet payments for essential things such as rent, furniture and more. The Budgeting Loan system has replaced the older Crisis Loans, and people are encouraged to call the customer service team on the Budget Loan Contact Number -0843 504 0605 for more information.
In 2013, the government continued their reform measures and altered the established Crisis Loan system. There was a call to make alterations to this system as many customers were failing to make their repayments on time. It was not a particularly surprising revelation as these loans were for those who have been supported by state benefits for over 26 weeks continuously. Claimants who have children are a priority, and you must have been claiming Job Seekers Allowance for 26 weeks or longer. Such loans range in amount and start at £100 rising to £1500 dependent on your individual situation. For more information, call the Budgeting Loan Contact Number on – 0843 504 0605.
How do I find out if I am eligible for a Budgeting Loan?
It is distressing when you feel that the pressure of essential financial commitments, especially when you have been on benefits. For those who have been on benefits long-term, for 26 weeks or longer, should be eligible to qualify for a Budgeting Loan. The amount you can borrow is dependent on your current financial and personal situation. If you are a single parent, for example, there is a much larger chance you may be eligible because you have to support your child. Budgeting Loan eligibility is difficult to understand. Therefore, it can be hard to be entirely sure if you will be able to receive one of these financial assistance payments. So, it is advisable that you speak to someone on the customer service team via the Budget Loan Contact Number listed here.
How much can I apply for with a Budgeting Loan?
Budgeting Loans are set out to begin at £100 and the maximum amount that you can receive is £1500. These loans are much like any other loan you could get and require monthly repayment over 100+ weeks. There is no interest added to these loans, but again like a traditional loan they must be repaid in full. If you are assesed as unable to repay the loan within the time frame then the government will reject your loan application immediately. In order to understand the inner workings of the Budgeting Loan system and find out how much you cold be eligible to borrow, call the customer service team on the Budgeting Loan Contact Number – 0843 504 0605.
Where can I get more information?
For more information you can call the Budget Loan contact number listed on this page. Loans have been divided up into three separate types – one for single people, one for couples with children and the other for couples without children. You can call the number on this page in order to understand the process further. The team will be able to issue you with the relevant forms, the SF500 and help you fill them in over the phone. Loan decisions will be made within 28 days.
Can I apply if I still have an outstanding Crisis Loan?
No, unfortunately your Crisis Loan must be paid off in full before a new Budgeting Loan can be processed.
For all enquiries relating to Budgeting Loans and the former Crisis Loans, please call the Budgeting Loan Contact Number on – 0843 504 0605.