Universal Credit payments: Who will get this £812 advance?
Aperson in the UK who claims Universal Credit can request a deposit of up to £812, which will be a welcome boost for many.
This so-called ‘budget advance‘ is there to help with emergency household spending, but it should be noted that it is money that will need to be repaid, usually through a reduction on future Universal Credit payments.
Still, if you need the cash and are worried about taking out an expensive loan or other form of borrowing, this might be considered a safer option.
How much can I borrow?
The smallest amount you can borrow is £100, with the highest being £812 if you have children.
Your personal situation will determine the amount you can claim, so you can receive up to:
- £348 if you are single
- £464 if you are in a relationship
- £812 if you have children
The amount you receive depends on your chances of repaying the loan and whether you have savings worth more than £1,000, as the amount you can borrow is reduced by £1 for every pound you have in savings at above the £1,000 threshold.
Am I eligible for prepayment?
Not everyone pretends Universal Credit can receive the advance payment budgeting, because you must have benefited from one of these services for at least six months:
- Universal Credit
- Employment and Income Support Benefit
- Income support
- Income-related jobseeker’s allowance
- State pension credit
Additionally, you must have earned less than £2,600 – £3,600 for couples – in the last six months and have repaid all installment budgeting that you might have received before the green light was given for this payment.
You will have to repay the advance payment budgeting through your future Universal Credit payments, but keep in mind that no interest will be charged on the loan.
Should we stop complaining Universal Credit, you will still have to repay the deposit.
Payments can come from your salary or other benefits, and if you don’t make the repayments, the Department for Work and Pensions (DWP) can either contact your employer or involve a debt collection agency.