Have you claimed Universal Credit? Are you considering an ‘advance payment’ while you wait for your first payment of Universal Credit?
If so, please be aware an advance payment is repayable, usually over 12 months after you receive it. There is no interest charged but payments will be taken directly from your monthly award before you receive it.
Your monthly payments will be lower until the advance payment is repaid, so you'll have less to live on.
- If you're a mother of three and your total monthly award for Universal Credit is £1,259.25, after paying your housing costs you will have £826.57 left to live on. From this you'll have to pay back £104.94 every month for 12 months.
- If you're a single person under 25 and your total monthly award for Universal Credit is £684.45, after you paying your housing costs you will have £251.77 to live on. From this you'll have to pay back £57.04 every month for 12 months.
A lot can happen in 12 months: Christmas, birthdays, emergencies... you might need that extra income. If you'd like any help or advice please contact your local JobCentre Plus or Curo's Customer Accounts Team.