Budgeting Loan Form SF500 download

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To make an application for a Budgeting Loan You will need to complete a Budgeting Loan form, this form is called an SF500 and can be either downloaded from the DWP website or from our own site here: click here to download the SF500 form.

The application for a budgeting loan is 9 pages long and you will need to complete the entire form to be considered for a budgeting loan. Once you have completed the form you will need to ensure that you sign it and date it before sending it back to the Benefit centre that manages your area, alternatively, you can drop it off at the jobcentre who will post the form to the section dealing with loans for your area via internal mail.

This is an advice site that also offers call forwarding options, and we are in no way affiliated with the Department - we are not affiliated with any organisation mentioned. for Work & Pensions, Budgeting Loans, or any other organisation mentioned on this website.

The entire process takes around 30 days from you posting the form to your application being decided and payment is issued if you are accepted for a loan and there is enough money left in the Budget.

Here are our top 5 tips for making that application process go as smoothly as possible.

  1. Complete the form as fully as possible
  2. Make sure that the form is readable
  3. Apply for permitted items
  4. Post your application back via 1st class post
  5. call to ensure that your budgeting loan form has been received

You can find Budgeting Loan addresses clicking here.

You can find out how long you may be expected to wait for your budgeting loan according to our advice by clicking here.

Filling in form SF500 for a Budgeting Loan

Before you apply, make sure you have all the information you will need to hand. You will need to provide information about your income, partner (if you have one), benefits, regular expenses, dependents, and any savings you have. You will also need to declare the reason for your application to ensure that you are eligible for a budgeting loan.

Once you have completed and signed the form, you will need to drop it into your nearest Jobcentre Plus office or post it to the benefits centre managing your area. You will then be contacted when a decision has been made.

Who can apply for a budgeting loan?

If you are receiving certain benefits and need money to cover certain urgent expenses such as job seeking costs, funeral expenses, securing accommodation, or essential furniture, you may be entitled to apply for a budgeting loan for the Government to help you cover this cost.

How much can I borrow with a budgeting loan?

A budgeting loan is interest-free and depending on your circumstances you could borrow up to £812. To apply, you will need to download, print out and fill in a budgeting loan form (SF500).

Short Term Benefit Advances

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Short Term Benefit Advance Loans are the replacement for the old Crisis Loan for Alingmnet payments as of 1/4/2013, and intended to make payment to people who are awaiting a new claim to benefit or a recent change in circumstances to be processed by the DWP.http://www.crisisloanhelp.com/wp-content/uploads/2013/06/short-term-benefit-advance-number

How to apply for a Short Term Benefit Advance

Most benefit customers are aware that it used to be possible to apply for an Alignment to Benefit Crisis Loan from the Social Fund and that this was one of the areas if support that was targeted and removed when the new welfare reforms started to take effect on April 1st 2013.

Not as many people are aware that whilst the Alignment to Benefit Crisis Loans were brought to an end and the Discretionary Social fund was disbanded, that a new provision was set up to try to eliminate the need for a Crisis Loan. These are called Short Term Benefit Advances and work in a similar way to the old Crisis Loans.

The idea is that if you are unable to wait for your claim to be processed and you or your family faces a risk to your health and safety, that you can apply for payment of your benefits even before your application is processed.

You may not be accepted for an avice if your benefit entitlement is is doubt, for example if you are waiting to find out if you pass the habitual residence test

What could beclassed as being odd, is the fact that the process to decide if you can have a Short term Benefit Advance is much quicker that the benefit claims process, even though it is practically the same except that it has 2-3 MORE steps. The STBA decision process but can be completed in 48 hours…

STBA Telephone number! 08456088637

Here is our quick-fire guide on applying for a STBA

  • · Call the Benefit Centre dealing with your application to Benefits and ask SPECIFICALLY for a “Short Term Benefit Advance “
  • ·The application is taken over the phone and passed to a dedicated team
  • ·The team go and find your application to Benefits and will attempt to process the claim on that day
  • · If the claim CAN be processed (even if it is not due to be processed yet) it will be processed and payment issued THAT DAY
  • ·If the clam CANNOT be processed fully a clerical assessment is made as to whether your claim is likely to be accepted.
  • ·If your claim is likely to be accepted a STBA is considered and awarded THAT DAY

The Short Term benefit Advance system is discretionary and you have to meet specific Criteria to be able eligible for a payment:

  • ·Have recently made a new claim – or have an existing claim to any of the following benefits – Jobseeker’s Allowance, Employment Support Allowance, Income Support, Incapacity Benefit, Pension Credit, State Pension or Care Allowance.
  • ·Be likely to receive enough benefit for the STBA loan to be recovered from
  • ·Be able to repay the loan from your benefits within 12 weeks (this can be extended to 24 weeks, however this is in exceptional situations)
  • ·Be able to show that if a loan is not made, that you or your family at serious risk or danger.
  • ·Not be able to find alternative funding anywhere else.

Even if your STBA application is not accepted, in most cases payments of benefits can and will be made much faster than just leaving your application to Jobseekers Allowance, Income Support, Pension Credit or Employment and Support Allowance in the main process, as it will ensure that your application is looked at within days rather than weeks.

Im Adam Laughton, and in a previous life i worked as a Social Fund decision maker and a JSA adviser who is now working with voluntary organisations to help those who apply for Government assistance like Crisis Loans or Budgeting Loans to find the information that then need to make an application.

Bring back the Social Fund

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Before the Government decided to scrap the Social Fund, people and their families had a place to turn when they found that they were without income (often through no fault of their own) and could apply for a crisis loan to tide them over with money for food or gas and electricity until they were next paid.

With the roll out of the new welfare reforms that began in April 2013, and the closure of the discretionary Social Fund system people are having to find alternative ways to support themselves when without income, and with the number of adverts for payday loansharsk on the TV it is not surprising that these companies are seeing an upsurge in applications.

Payday loans ARE NOT the answer to turning around poverty as they see people fall into spiraling dept that they are unable to clear with charges, interest and other fees mounting on a daily basis.surge-in-payday-loan-search

 

The government should give real thought to brining back element of the Social Fund to help those who are tempted to apply for these short term loans. with a view to helping to end the misery of those caught in the poverty trap.

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