Payday Loan Or Similar Help

streetfast

Hi,

I am in a bit of a financial mess, so I have decided to sell my car to balance things out. My car needs a little investment (body work and a few tech things) to maximise its value which will cost £500 - which I don't have. My cars value without work is £1,500 - 2000 and with work done is £3,000 -£4,000. Also I would like to sell a sound car (I have had it serviced etc) to maximise its potiential and get a significant amount of return on the investment made.

Basically I need the £500 to borrow (since nobody can lend it to me!) on a short term basis. Ideally I would like to pay it back over a few months, provident spring to mind but im not sure whether they will accept me as I have been declined by everyone and had a lot of searches for loans killing my credit. Therefore another credit check would not be good!

You can see me predicament, I need the work doing by wed pref, I believe this is a sensible decision.

Many Thanks

cooltt

payday loan people don't do searches for 500 quid just ask for proof of income.

streetfast

who can I ask and how can I prove this? Will a bank statement do?

justaboutskint

They ask for proof of address (utility bill etc), also for also proof of identity copy of diving licence photo card and proof of income (bank statement, payslips etc)
As i have said on other threads quidco are offering £40 cash back for Paydayuk, they would charge you £25 for every £80-£100 borrowed, These companies do generally work on a max of 30day basis, but i am aware that you could defer your payment, which i believe is very simple to do but i am sure they would make even more money from you if you did defer, hope this helps

justaboutskint

I have been thinking about my last post and i have concluded that a payday loan for that amount (£500) would generate at least £125 in interest over the basic 30day term and thats not even with deferring, the amount they would charge you for that i would dread to think!! i would suggest that you research this deferring issue, you should find info on this within the companies terms, and if it turns out that it isn't going to cost you more to get a loan for the work than the potential increased sale value then good, if you end up in profit even better. Lets hope you sell the car for what you want for it. good luck.