How Long Does budgeting Loan Take
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.
- Download a Budgeting Loan Application, or get it from Job Centre Plus
- Fill it out clearly and fully
- Make sure that you have priced things reasonably, as this should result in less checking
- make sure you sign, date and put your National Insurance number on the form
- Send it back to the right place!
- You can replace the 2nd class envelope with a first class to cut postal delays
- 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.
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{ 36 comments… read them below or add one }
hiya i applied on the 1st may recieved my offer 9th sent the reply back and today i rang to check hat wats happening if they recieved it she said its been issued should recieve it in account tomorrow can i garentee it will be there tomorrow?
No- its usually 3 working days.
I sent me signed app saterday night in the pose , but down think it would of been took till tuesday. Because oif bank holiday and stuff do you rekon ill get my money this week or next ? Thanks jacob
Not this week, possibly another 10 days..
thankyou !
hi i sent my budgeting loan off on monday the 1st they recieved it the 2nd i enterd my NI wrong so they sent it back and asked for it so i filled it in i sent it back off imdeiatly on moday just gone , do you possibly no how long it will take as this is my 1st one i have applied for and i have 1 child under 1 and a baby on the way , i claim income support child bennefit and child tax credits ?xx
It usually takes around 10 days for each part of the process Alex.
i applied for budgeting loan and because it was only 2 days off the 26 week required off set, i was refused the loan i sent in a review, of this they recived my letter friday there, how long now ill i wait, and will i get accepted as now iam 27 weeks on income support.
the other problem i have is that iam worrying that i get offered a job as been to 2 interviews this week, what will ahppen then if i get job and still waitingto hear about loan aaagh!!!!!!
Lynn, The application will be treated as being made on the date that it was received ( unless you asked for another date) so if it was received before the 26th week, then they are correct in turning you down. Your best bet would have been to simply apply again ( or wait the two days..)
i put a enclosed letter stating that it was 2days before the cut of period and wish they could process at that time, but obivously not, but i sent review back they recived friday thereso how long now do you think they will reach a descion and let me no, desperate for the funds as cooker on the blink,
A review should take 48 hours- give them a call today and ask for your decision.
just called social fund again and still no answer this is dreadfull the time it takes. i also sent off another aplication pack aplying again, for a budgeting loan ,i was told that the loan if accepted goes by the day they recive in office, which was well over a week,and a half ago, i have just been offered a job, and start tomoro, so i will be signing off income support, so what happens now, if iam still waiting an answer on loan, will i get it or wont i, even though at the time i applied i was on income support, now as off tomor i will be signed off……
Hi there, I got my acceptance letter on Tuesday for a budgeting loan. I posted it back the same day using the freepost envelope provided. I was just wondering whether it still takes 10 days or if there would be any delay?
Many thanks.
Tara – 10 days should be fine, however you have to remember that using freepost envelopes can take a little longer, and also that were having a bank holiday on monday..
thanks. money comes through tomorrow
so only 9 days
Thats great news
Thanks for getting back to us
Hey,
I sent my application off 20th march 2012, i got the letter 2 say i was accepted on 30th march 2012, i sent the form back on 30th march 2012 bcos they asked me 2 sign it but im still waitin for the money to go into my account, tried ringin the social fund offices but i got no answer and no response from them, i was wondering when i would get the money into my account and if not then how long will it take?
Thanks
Zoey
Zoe,
it generally takes 10 days, however at this time of year, it is possible that it may take a little longer.
i sent my acceptance letter back on the 3/04/2012 through my local job centre and i am wondering how long it will take for my budgeting loan to come?
Natalie,
I would expect that you received payment toward the end of this week or beginning of next- its usually a 10 working day turnaround.
hi i sent off for my loan 11 days ago and still aint had my money
Hi angelina,
Unfortunatley, given the easter break, it may take a little longer that the 10 working days that they aim for.
ive applied for a budgeting loan but on the forms it doesnt ask u to say how much for each item it just asks u to tick the boxes of what the money is needed for and how much money you want??
Hi Peter,
you will need to add up the cost of each item yourself, then apply for that amount. best to use the argoss catalogue, and go for mid/low priced items- that way you are more likely to get what you apply for.
The social fund staff generally use the argos catalogue to price items- so will see that your application is reasonable, if you don’t overdo it with prices.
Hi! I applied for a budgeting loan around 22nd march and still haven’t had a reply, could you please tell me how long this will take as I desprately need the money as soon as possible, I live in Wakefield West Yorkshire.
Hi, I sent off my application for a budget loan last week and just called to ask how long it might take. They said it could be up to 6 weeks for it to hit my account IF I’m accepted! This whole proccess seems to be slowed right down due to it being done through the post. Most other things are done via telephone or online now so why is a budget loan so different? Surely there must be some other way to speed things up? I wouldn’t have applied if I didn’t desperatly need help. My washing machine is goosed and the launderette is extortionate! My family and friends live miles away and there’s no other way for me to do washing for the kids! what am I supposed to do in the meantime? Please reply. Thanks.
Hi posted budget form a week ago. Will I hear back soon
hello i have sent my signed letter back for my budget loan how long will it take 2 go into my account? i sent it on back on the 7th ov march, thanks xx
Hit- it generally takes 10 days for a reply.
sent my acceptance form back 2weeks ago still no payment
hi whats the number to see whats happened to my loan as i sent an application form but still heard nothing. i need to see when i am getting my loan as in desperate need for the money
Melissa,
you would need to give us your postcode OR you could search this site ( above) using your location to find the number
I recived my decleration a week after I sent my app off.. Sent decleration of saturday the 4th feb.. So still waiting for a reply… Or the budgeting loan
ca rnt u just put the budgetting loan in our bank accounts??? instead of waiting 4 a reply letter to send back??
how would they know how much you accepted, assuming that 2 offers were made?
i rang the social fund up thursday ive been awarded my loan but still not recieved my reply letter yet how long will that take thankingyou.