how long does it take?

What to expect when applying for a budgeting loan

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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.

What should I expect when I apply for a budgeting loan?

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 to your local Jobcentre.

What is the Budgeting Loan application process?

Here’s what generally happens in the Budgeting 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.

30 thoughts on “What to expect when applying for a budgeting loan”

  1. Filled out form sent it away 2weeks later got acceptance form signed and posted it back same day so last Saturday now just waiting on it going into my post office account but not expecting it this week with it being Chrismas holidays and New Year on Thursday xx

  2. Hi all i applied for a budgeting loan and got accepted i sent my declaration off last Tuesday, just wondering if anyone knows how long it will take for my payment to be issued?

  3. hiya just wondering if any 1 know how long it takes for budget loan to go in my account as sent back the acceptance form

  4. they sent me a text saying they sent my loan on05/01/2014 you will recive it thursday but the money is not in my account.its allready three days on the text they say you dont need to call no more.the cash will be there thursday.they sen it monday.when is it i can get the money out.what are the time period.please help me.

  5. i have sent forms back 4 accpe5ing my bugeting loan last thursday would off they recvied it yesterday and when will it be likely to be in my account 4 because its christmas as they dont work now

  6. hi, sent my acceptance letter off in the post 11days ago now… and still not heard anything or had money in the bank. how long is it likely to take?

  7. I applied last week and got a text 3 days later after sending the letter saying DWP have receive my app and will take 10 days to hear a reply. now 7 working days later I have just received the same txt saying u will hear in 10 days,….??? does that mean another 10 working days to wait just to hear if they accepted it

  8. I recently sent of my reply for how much they could offer, I sent it off last Wednesday when do you think that it would it be to go in to my bank
    Shannon

  9. I sent my declaration off on Tuesday 11th June 2nd class when will the money be payed into my bank?? X

  10. I posted my application form for a Budgeting Loan on Thursday 30th May…and I’ve had no word back yet….When should I expect a reply from them? Thank you, Abi

    1. Geed evening Abi, It usually takes at least 10 days until you hear anything, but given the recent bank holiday and national strike- it will likley be later on next week.

  11. i have sent my letter back of how much i was offered and how much to pay back on friday it was 2nd class but it was a bank holaday monday when would i see any payment into my bank please???

    1. It will likley be next week now, the post will have arrived yesterday/today and will be passed out and sorted tomorrow/friday

  12. i sent off the letter which you accept the amount given to me on wednesday 22nd may,how long will it take to receive the money into my account as we just had a bank holiday

  13. i got an acceptance letter signed it and posted it on saterday how long will it tak to go into my bank

    1. Nathan,

      It will possibly be looked at this week, so expect your payment toeard the end of next week.

  14. Hi ,
    Just thought id let u all know about my current experience with the social fund…
    The last time I applied for a budgeting loan, it took just over 3 weeks to hear from them (from sending the application to getting an offer) then it took approx 5 days from me sending the acceptance form back to get the money in my account..
    However, ive just applied for another. I sent the form off last Wednesday (11th July) and i got an offer today in the post (18th July). The offer letter was dated the 16th which was 2 days ago. They would only have got my application form last Friday (13th) so they have dealt with it VERY quickly this time, from me sending the form to getting a reply, including post , its taken 5 working days just like it used to be a few years ago…
    The last time i applied, i downloaded a form and sent it 1st class, this time i asked SF to send me a form and used their prepaid 2nd class envelopes and ts been dealt with quicker, sods law. I just hope they dont drag their feet when processing payment!

    1. I had same . I have been waiting 3 weeks . Have been told decision not made yet I’m still waiting. One lady said I did not apply for one .. So I called again the man said decision not made yet

      1. As long as your application is logged as received before 31/3/2013 then it will be processed- usually it takes 10 days.

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