The rising cost of living crisis is putting a significant strain on personal budgets. For those struggling to cover necessary expenses, a Budgeting Loan could offer some respite, helping with costs such as advance rent, clothing, and maternity needs.
This loan, offered by the Department for Work and Pensions (DWP), is only available to individuals who have been claiming certain benefits for the past six months.
However, it's important to note that not all benefits qualify for this loan., for example, those currently receiving Universal Credit are not eligible.
Yet, if you've transitioned from Universal Credit to Pension Credit, the time spent claiming the latter will count towards the six-month requirement.
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