How Long Does budgeting Loan Take

By on 235 comments

Well given that we are constantly asked the same question “how long does a budgeting loan take ? ” back in December we decided to start a poll to see if we can work ou how log it actually takes in the real world.
The idea Is that it takes around 20 working days for the application to be paid out ( if you have been accepted AND accept the repayment rate)
However, each case is different and because of that there can be a large difference in how long a budgeting loan application takes.
There are things that you can do to try to speed up the process and these are listed below.

  1. Download a Budgeting Loan Application, or get it from Job Centre Plus
  2. Fill it out clearly and fully
  3. Make sure that you have priced things reasonably, as this should result in less checking
  4. make sure you sign, date and put your National Insurance number on the form
  5. Send it back to the right place!
  6. You can replace the 2nd class envelope with a first class to cut postal delays
  7. You can deliver it yourself

The Budeting loan process:

  • You apply
  • Your application is rated
  • An offer is made ( or you are refused)
  • Your offer is posted to you (2nd class)
  • You reply
  • The reply is processed
  • Payment is issued ( usual taking 3 working days to hit your account)

Please remember to come back and fill out the following poll to give others an idea of how long it is taking to get a budgeting loan.

[poll id="4"]

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235 Comments To This Article… add one

  • Lauren White

    August 8, 2013 at 10:48 am Reply edit

    Hi, I sent off my budgeting loan application form off on Thursday 25th June and I received an letter telling me what I’m entitled to I sent it off on Friday 2nd July in the prepaid 2nd class envelope, still no sign of the money in my account, how long does it take? I heard that it goes in on a payday is that true?

  • angel

    August 7, 2013 at 11:25 pm Reply edit

    applied on 19th july got a response on 2nd august posted same day 2nd class.. when will i receive it?????

  • Dawn

    August 7, 2013 at 8:15 am Reply edit

    I posted my application on the 22nd, received acceptance on Monday 5th. Posted acceptance back first class yesterday. Will update when money gets paid.

  • Stuart

    August 5, 2013 at 11:33 am Reply edit

    Sent away my acceptance last Wednesday first class so hopefully I get payment this week

  • courtney

    August 2, 2013 at 7:54 am Reply edit

    Hi sent my reply slip back on tue 30th july when will it be I’m the bank please helllpp

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