Family benefits, allowances, maintenance, allowances. These forms of income are not always considered reliable income, which is why they are not always accepted when applying for a loan. Is it worth informing about the benefit you receive? For many institutions, this benefit may not be sufficient proof to repay the loan by the borrower. However, there are companies that accept these sources of income.
Money Save Plus benefit
The Money Save Plus program is a tax-free cash benefit of $ 500, which is granted to families with children. Benefit is granted for the second and each subsequent child. In families where the income does not exceed $ 800 net of tax per person, the benefit is also payable to the first child, even if it is an only child. For carers of disabled children, the minimum income is $ 1200 net. This program applies to children under 18 years of age. In the case of divorced parents, the benefit will be given to families who actually look after their child. If the care is split, the benefit will be granted to both, taking into account the period of care. To receive money from the 500+ program, you must apply for the year.
Money Save Plus benefit is an acceptable source of income for some financial products. However, not at all. This family benefit should be presented as an additional source of income, not as the main one. The more sources of income you present, the more reliable the payer you are to the lender. Therefore, when going for a loan to a stationary branch, it is worth taking with you a document confirming receipt of the benefit. If you want to take out a loan over the phone or the Internet, you can also provide family benefits along with other sources of your income. With low loan amounts and a good record, 500+ can be an acceptable source of income.
If you have additional benefits and benefits but are not sure if they are an acceptable source of income, you can call our financial advisors. Each loan is characterized by different characteristics and different accepted sources of income. If you need money, you can contact us at any time. Our consultants will answer your questions, dispel doubts and choose the best offer for you.