Everyday Loans for Everyday Life



Loans for People on Benefits

Everyday Loans offers loans to people on benefits. If you receive income from the benefits listed below, we will include this in our assessment of your income.

It can be very difficult for people on benefits to gain access to loans and credit from high street banks and lenders. Very often, people on benefits are rejected by prime lenders and need to speak to a specialist lender like Everyday Loans that is prepared to consider their particular circumstances, particularly if they have some bad credit history.

As a responsible lender we will always take your ability to repay the loan into account when considering your application. In so doing, we will assess how much income you have and what you can comfortably afford to repay. Some lenders may be prepared to accept income from public benefit programmes when assessing your ability to pay.

You will probably have to prove that you get this income by showing the lender the appropriate benefit book, or a letter from the benefits agency or bank statements that show the payments going into your account.

Benefits income that Everyday Loans will accept as income include:

  • Incapacity Benefit
  • Disability Living Allowance
  • Severe Disablement Benefit
  • Disability Working Allowance
  • Industrial Injuries Disablement Benefit
  • Family allowance (verification not required)
  • Family tax credit/working tax credit
  • Income from fostering can be used.
  • Tax Credits may also be included where it forms part of the applicant's net pay

Benefits that lenders are unlikely to consider as income include:

  • Housing Benefit
  • Income Support
  • Child Support Payments
  • Job Seekers' Allowance
  • Pension Credits

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