natalie20 Posted June 5, 2012 Share Posted June 5, 2012 Does anyone know of anyone who does doorstep loans to the unemployed? Around £500 or less.. Thanks Link to comment Share on other sites More sharing options...
andyofborg Posted June 5, 2012 Share Posted June 5, 2012 depending on what you want the money for then you should approach your bank or the dss first they may say no but that will be the source of the cheapest money. you could always approach your family after that then you should look at local credit unions but you will probably need to establish a savings pattern first. other than that you are left with the legal loan sharks such as provident or one of the multitude which advertise on tv though their interest rate is punitive if none of the above can help then your left with the illegal loan sharks who will charge an even higher rate and resort to violence if you miss a payment. perhaps you should be asking yourself whether or not you really need the money you want to borrow Link to comment Share on other sites More sharing options...
Bypassblade Posted June 5, 2012 Share Posted June 5, 2012 Does anyone know of anyone who does doorstep loans to the unemployed? Around £500 or less.. Thanks I have sent you a PM Link to comment Share on other sites More sharing options...
andco Posted June 5, 2012 Share Posted June 5, 2012 various friendly societies around - you'll need to be a member first thought, but I'd start looking at your outgoings to see what you can slash, cut and shave - it's surprising how much you can save and how little you really need. Best investment you can make is a book by Alvin Hall: What not to spend. http://www.amazon.co.uk/What-Not-Spend-Alvin-Hall/dp/0340836024 but dont buy it new! dont go shopping, cut groceries down to bare necessities. without wishing to assume but drinking and smoking are two rather expensive habits; so is going out on Saturday night some people tell me they can easily drop £100 on a mate's night out followed up with a meal. Every weekend that's £5200 for one night and £10K for two nights!!! Link to comment Share on other sites More sharing options...
medusa Posted June 5, 2012 Share Posted June 5, 2012 The big question that's going to come from anybody lending to you is if you're unemployed and you're in need of money now, how will you fund the repayments? Please be really honest with yourself and do a bit of serious budgeting before you commit to something like a loan (even if you can find someone who is prepared to loan to those who are unemployed) because you are in a high risk group and therefore you will be subject to the highest possible interest rates which will leave you in debt for an awfully long time and repaying many times the amount borrowed if you aren't careful. Having been on very little money for a long time at the same time as repaying £30k of debt that my darling ex-husband left me in, I can tell you that it's no fun at all trying to find the money and knowing that courts and bailiffs are only one step away constantly. My honest advice is to find another way around this- sell stuff, find holes in your budget and ways you can economise, disconnect things which are nice but not essential for life and make do until you can genuinely find a way to pay back a loan. I know that by the time you're in the position to be able to pay it back you won't need the loan any more, but that's the way that the financial sector works- it penalises those who really are in need because they're also the group most likely not to pay back what they owe. Link to comment Share on other sites More sharing options...
chem1st Posted June 5, 2012 Share Posted June 5, 2012 Go a credit union. Your benefits can be paid into the credit union. You will then become eligible for a £500 loan. Lots of peoples' benefits pooled together to loan out to each other at favourable rates of interest, to cover the cost of administration. If not you could go to the venture capitalists at Wonga et. al. and lend at a rate of 4000% and soon fall into debt slavery. (Borrow £1 owe £41 a year later. Borrow £100, owe £4100 a year later. Borrow £500 ow £20500 a year later.) You might be able to get a 'budgeting loan' from the job centre. You could even get a 'community care grant' (a lump sum gift) from the job centre. Some companies run charities, (high st. bakery) will buy single mothers a fridge for example. Link to comment Share on other sites More sharing options...
Bypassblade Posted June 5, 2012 Share Posted June 5, 2012 You might be able to get a 'budgeting loan' from the job centre. You could even get a 'community care grant' (a lump sum gift) from the job centre. Just to point out, you can get neither of these from a jobcentre, you get the forms yes, but the decisions are not made in the jobcentre TRUST ME. Link to comment Share on other sites More sharing options...
Lounge Jay Posted June 5, 2012 Share Posted June 5, 2012 Does anyone know of anyone who does doorstep loans to the unemployed? Around £500 or less.. Thanks I'm sure you can live without a doorstep, just take care when entering your house when drunk. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.