Student with a debt problem

Example
Example Posts: 15 Forumite
in Loans
Basically I've nearly gone through most of my loan and all my overdraft (cant extended it), I don't have no money left for rent and stuff just wanted to know the best way I could borrow say £1,000 till 15th January when i get my next loan which i could pay back and still have enough for next 3 month rent and what not.
«13

Comments

  • Pablosammy
    Pablosammy Posts: 566 Forumite
    Does your student union not have financial hardship arrangements?
  • lynz68
    lynz68 Posts: 323 Forumite
    Being a student highly unlikely your going to get a loan ..... How would you make the monthly payments between now and January?


    It either the bank of mum and dad, get a part-time job, or start selling things.
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
    Name Dropper First Anniversary First Post
    3 options

    Speak to student services
    Speak to family
    Or get a job if you don't already have 1

    Don't start searching for loans on the net and up paying a few to a broker.
  • James_B.
    James_B. Posts: 404 Forumite
    That's weird, my post disappeared.

    OP looks to have a few games machines. Selling one or more of these could be a good option. Better no games than no food.
  • dawyldthing
    dawyldthing Posts: 3,438 Forumite
    £1000 that you need is a lot for about 7 weeks left before your loan.

    I know when I was a student I made sure I lived in the cheapest accommodation possible (never lived anywhere more than £225 a month and that was in Leeds.) I'd work out your most important first (ie rent) then cut back on everything else. Some things might be able to wait for your next loan, try and sit and work it all out. I'd also plan for the rest of the year as it's no good thinking of borrowing into next terms loan as it will leave you short next term and get you into a viscous circle. Plus the last loan is usually less as they assume you don't need as much. My last but of advise is if possible move home for the summer and try and find places to rent September to June as there are places that do, or depending where you are start looking in August as there are nearly always places to stay.

    Also do you have anything to sell to help pay for things like a play station etc to help you find the money?
    :T:T :beer: :beer::beer::beer: to the lil one :) :beer::beer::beer:
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
    Name Dropper First Anniversary First Post
    The OP had money problems back in February, wonder if they sorted it then.
    They also said asking parents for help was a no no.
  • Example
    Example Posts: 15 Forumite
    Cant ask parent, been looking for a job and now looking in to getting a credit card, pay off overdraft then pay it all back in January, or hardship from uni.
    Is the credit card a good/bad idea?
  • James_B.
    James_B. Posts: 404 Forumite
    edited 24 November 2014 at 11:04AM
    Example wrote: »
    Cant ask parent, been looking for a job and now looking in to getting a credit card, pay off overdraft then pay it all back in January, or hardship from uni.
    Is the credit card a good/bad idea?

    When you've got easily saleable electronic luxuries? It's an awful idea.

    You seem completely unwilling to respond to posts pointing out an easy route to obtaining some money. Sell your games machines, sell your games, and live off that until your next payment arrives.

    Edited to add, there are a vast number of seasonal jobs now available, so take one of those as well, and build up some funds to see you through.

    Once you've done this, revise your financial planning, make sure that you spend no more each week than your budget allows, and you'll be fine.
  • Example
    Example Posts: 15 Forumite
    James_B. wrote: »
    When you've got easily saleable electronic luxuries? It's an awful idea.

    You seem completely unwilling to respond to posts pointing out an easy route to obtaining some money. Sell your games machines, sell your games, and live off that until your next payment arrives.

    Edited to add, there are a vast number of seasonal jobs now available, so take one of those as well, and build up some funds to see you through.

    Once you've done this, revise your financial planning, make sure that you spend no more each week than your budget allows, and you'll be fine.

    Sorry for not putting all my info but looking for the job everyday, only got phone that i could sell but wont make enough, no game no laptop since had to sell that for last month
  • James_B.
    James_B. Posts: 404 Forumite
    Example wrote: »
    Sorry for not putting all my info but looking for the job everyday, only got phone that i could sell but wont make enough, no game no laptop since had to sell that for last month

    Have you tried the post office for a seasonal job, factories, warehouses etc? All sorts of companies are ramping up heavily at the moment, and a great many of the jobs require no previous experience.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards