Chancellor Hunt extends repayment period for Universal Credit budgeting advances from 12 to 24 months.

Chancellor Jeremy Hunt announces extension of repayment period for Universal Credit budgeting advances from 12 months to 24 months, providing struggling households with more time to pay back emergency loans. Budgeting advances are used to cover emergency costs such as rent, moving expenses, and funeral costs. The change will allow the repayments to be spread out over a longer period, reducing the impact on monthly payments.

March 06, 2024
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