UNIVERSAL CREDIT CASH FACILITY LOAN FOR UNIVERSAL CREDIT RECIPIENT BUDGETING LOAN ADVANCE 2023
A universal credit budgeting advance is by definition a credit facility structured by the governement for the recipients of the universal credit to overcome financial emergency situations.
A universal credit budgeting loan is intended to help people who are eligible for this social plan to access financing in order to fund their imminent needs such as household items (cooker, fridge or bed) , to pay rent in advance or removal expenses if moving home or repairs improvements a home
To obtain a universal credit budgeting advance they are preconditions such as having revenues being below £2600 for single and £3600 for a couple, and the maximum amount a UC recipient can obtain is £348 for singles without dependent children, £464 for couples and £812 with dependent children.
A universal credit budgeting advance can be applied again only under the condition that an existing advance has been paid back in full, also a minimum budgeting advance is amounting to £ 100.