IRRV Alert - week ending 10th April 2020
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Eligible Loan Deduction Scheme (7 April 2020)
Guidance
Eligible Loan Deduction Scheme
Guidance for lenders on applying to the Department for Work and Pensions (DWP) to recover loans from benefits paid to claimants.
Published 20 September 2013
Last updated 7 April 2020 — see all updates
From:
Department for Work and Pensions
Documents
Eligible Loan Deduction Scheme
HTML
Application to join the Eligible Loan Deduction Scheme
PDF, 135KB, 3 pages
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Application to join the Eligible Loan Deduction Scheme
RTF, 357KB
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Evidence required for the Eligible Loan Deduction Scheme
HTML
Specimen memorandum of understanding between DWP and lenders
PDF, 85.7KB, 9 pages
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Eligible Loan Deduction Scheme referral form
PDF, 107KB, 1 page
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Eligible Loan Deduction Scheme referral form
RTF, 279KB
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How to notify DWP of any changes for the Eligible Loan Deduction Scheme
HTML
Details
The Eligible Loan Deduction Scheme supports the expansion of affordable credit to people on low incomes by allowing DWP to recover loans from benefits.
This guidance explains how the scheme works and how lenders can apply to join the scheme.
Changes to repayments because of coronavirus (COVID-19)
Deductions from benefits through the Eligible Loan Deduction Scheme have been paused. You do not need to make any repayments until July 2020 at the earliest. Payments will stop automatically and restart in July at the earliest.
Lenders should not make any new requests at the moment. New requests to recover loans from benefits will not be dealt with until July at the earliest.
Published 20 September 2013
Last updated 7 April 2020 + show all updates