Did you know, if you receive Universal Credit, you can get an advance on your payments?
People across the UK are feeling the pinch at the moment as the cost of living continues to increase.
But for those receiving Universal Credit, advancements are available for those struggling with financial difficulties.
You may be eligible for up to 100% of your estimated Universal Credit payment or smaller budgeting advancements are also available.
Any advancements will need to be repaid from future Universal Credit payments or by other means if you no longer get Universal Credit, such as from wages or other benefits you may be getting.
Who is eligible for Universal Credit advancements?
The Gov.uk website states: "You can apply for an advance payment of your Universal Credit if you are in financial hardship while you wait for your first payment, for example, if you can’t afford to pay your rent or buy food.
"You will need to pay back your advance a bit at a time from your future Universal Credit payments, or by other means if you no longer get Universal Credit, for example, from your wages or other benefit you may be getting.
"If you are already receiving Universal Credit you may also be able to get a Budgeting Advance to help pay for emergency household costs, for example, buying a new cooker or for help getting a job or staying in work."
If you don't need the full amount, can't afford the repayments or have over £1000 in savings, smaller budgeting advances are also available.
The smallest amount you can borrow is £100.
But you can also get £348, if you’re single; £464, if you’re part of a couple; or £812, if you have children.
You are eligible for a budgeting advance if you need help with:
- Emergency household costs such as replacing a broken cooker
- Getting a job or staying in work
- Funeral costs
According the Gov.uk, to get a Budgeting Advance, you must also have:
- Been getting Universal Credit, income-related Employment and Support Allowance, Income Support, income-related Jobseeker’s Allowance or State Pension Credit for 6 months or more, unless you need the money to help you start a new job or keep an existing job
- Earned less than £2,600 (£3,600 jointly for couples) in the past 6 months
- Paid off any previous Budgeting Advances
How to apply for a Universal Credit advance?
You can apply for a Universal Credit advance:
- Before you get your first payment
- If you are already being paid Universal Credit, have told the Government of a change in your circumstances which means a Universal Credit increase but have not yet been paid the extra amount.
To apply for a Universal Credit advance you can:
- Speak to your Jobcentre Plus work coach
- Apply through your online account
- Call the Universal Credit helpline
Cost of Living Payment
Not only are advancements available for those on Universal Credits struggling financially, but you may also be eligible for cost of living payments.
Gov.uk says: "You may be able to get up to 5 payments to help with the cost of living if you’re getting certain benefits or tax credits.
You can find information on cost of living payments, including when they'll be paid, here: https://t.co/NVuBzq4rbs pic.twitter.com/xX8SkplRDx
— GOV.UK (@GOVUK) October 24, 2022
"You do not need to apply. If you’re eligible, you’ll be paid automatically in the same way you usually get your benefit or tax credits. This includes if you’re found to be eligible at a later date.
"These payments are not taxable and will not affect the benefits or tax credits you get."
Low income benefits and tax credits Cost of Living Payment
You may be entitled to up to 3 Cost of Living Payments of £301, £300 and £299 if you get certain benefits or tax credits, including Universal Credit.
The payment will be made separately from your benefit payments.
What is Universal Credit?
Describing Universal Credit, Gov.uk says: "Universal Credit is a payment to help with your living costs. It’s paid monthly - or twice a month for some people in Scotland.
"You may be able to get it if you’re on a low income, out of work or you cannot work."
To claim you must:
- Live in the UK
- Be aged 18 or over
- Be under State Pension age
- Have £16,000 or less in money, savings and investments
For more details or to confirm you eligibility for any of these payments, visit the Gov.uk website.
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