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<p>A budgeting advance is available for one-off unexpected financial events for Universal
Credit claimants and is repayable over a period of up to 12 monthly instalments. Claimants
might be able to get help for things such as: emergency household costs, getting a
job or staying in work or funeral costs.</p><p> </p><p>Of the 485,000 budgeting advances
created, between June 2015 and May 2019, 49% took the maximum entitlement and 78%
chose to take the maximum repayment length.</p><p> </p><p>From October 2021 we will
be increasing the recovery period for advances from 12 to 16 months, further supporting
those in financial need.</p><p> </p><p><strong>Notes </strong></p><p> </p><ol><li>Figures
relate to Universal Credit full service only</li></ol><p> </p><ol start="2"><li>Figures
relate to total number of budgeting advances since their introduction</li></ol><p>
</p><ol start="3"><li>Figures for the number of budgeting advances created is rounded
to the nearest 1,000</li></ol><p> </p><p> </p><ol start="4"><li>Budgeting advances
with a value of £348, £464 and £812 have been used for proportion of claimants receiving
the maximum available advance, as these values relate to the maximum entitlement dependent
on the claimant's circumstances.</li></ol>
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