Need for Social Fund and its Benefits
The Social fund is one of the Government schemes which are created to help those who are in the immediate crisis or disadvantaged. The social fund was mainly obtained to grant loans without any interest mainly to help the one in an unexpected events. The social fund helps those who needs to manage their unexpected expenses with limited income. Any unexpected expenses cannot be managed always with the savings or the income that one has with him. Certain emergency expenses like costs of the new born baby, furnishing a new home, funeral costs, and unexpected travel may bring the expense more than the budget or expected expenses.
The Government have made this beneficial scheme in order to help those people who are with low income when they are in some unexpected financial crisis through Job Centre Plus and the Department of Work and Pension. The Social fund though limited it is granted for certain emergencies like funeral payments, community care grants, cold weather payments, in the form of budgeting loans, maternity grants and much more to the most needy people. The winter fuel payment is one of the form of social fund which is not granted for those persons above 60 years.
The crisis loan is granted for those people who are in some emergency need of money due to unexpected circumstances. They also help with rent in advance during certain conditions. The crisis loan that is taken must be paid back but there is no interest charged. It means that there is not need to pay interest for the loan amount. The crisis loan is not made possible for every one who apply for it. The benefit officer is the person who decide approving the crisis loan based on how emergency the need is and loan amount to approve.
The crisis loan can be applied by anyone who is 16 years and over with no proper resources to handle the emergency conditions immediately. The crisis loan is mainly granted on the basis of the existing condition of a person and so the person must mention in the application about his existing condition. It may not be the fact that since some are not getting the crisis loan even you will not. The crisis loan will not be granted if you have already taken the loan within 28 days previously.
Know more about SOCIAL FUND and CRISIS LOAN. Visit http://www.social-fund.co.uk/ for more details.
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