loan in time for rent day

sparkysi

I would talk to your mates. Whilst you may be embarassed about the situation they will most likely help you out if they can. If you have to talk to the landlord they are most likely going to find out anyway. If your 100% sure of the loan they are only going to have to stand it for a day or two so they should have the cash back in time for beer night.

Always try talking to those around you first, it usually works out a lot easier in realityt than you imagined it being.

theartfullodger

Wonga!! That bunch of c***** that many might consider less-than honourable?? That advertise as charging 2,869% APR!!!! That the founder says is committed to "responsible lending"!!!

I wouldnae trust them further that I could throw them & I have a bad-back..

Cheers!

Lodger

PS And all the other "Payday Loan" scum...

woody01

I cannot believe there are so many idiots recommending PayDay Loans!

It would be the WORST thing you could do.

Obi167

Hey Woody1, all i'm saying is £350 ain't bad for a tenner. If there was no other option (even if its just to save face with his mates if he is so inclined).

No need to call me an idiot.

michael1983l

Obi167 wrote: »

Hey Woody1, all i'm saying is £350 ain't bad for a tenner. If there was no other option (even if its just to save face with his mates if he is so inclined).

No need to call me an idiot.

I'm sorry, I'm inclined to agree with woody there is never a good reason to take a payday loan. Even if the op came off unscathed on this loan he soon would be drawn back to using his account with bombarded advertising from the payday shark until he buckles. Before he knows it spiralling debt.

There is never a good time to take a payday loan. simple.

Obi167

I would say there are times when taking out payday loans IS a good thing if you play the system a bit. I've taken out 3 payday loans and made a profit on each. now don't get me wrong i'm not saying to people to go and get them - they are very bad company's. But what your saying is that the op cannot possibly borrow £350 over 4 days for a tenner without going and getting another loan because they send him some emails telling him to do so. I understand many people do enter this debt spiral, but I think the same can be said for credit cards and ever increasing limits.

michael1983l

Obi167 wrote: »

I would say there are times when taking out payday loans IS a good thing if you play the system a bit. I've taken out 3 payday loans and made a profit on each. now don't get me wrong i'm not saying to people to go and get them - they are very bad company's. But what your saying is that the op cannot possibly borrow £350 over 4 days for a tenner without going and getting another loan because they send him some emails telling him to do so. I understand many people do enter this debt spiral, but I think the same can be said for credit cards and ever increasing limits.

I disagree as it is usually a fair assumption that people who are down to using payday loan companies have exhausted all other creditors. Which would make another fair assumption that they are likely to take out further credit with enough prodding. Obviously there are exceptions to every rule, but just to be safe I still stand by not using these sharks until every avenue is exhausted.

Just out of interest how did you end up making a profit out of lending from paydays?

Obi167

I am going to stop arguing this point, 1) because I do despise these company's and you are right that they shouldn't be touched with a barge pole except in exceptional circumstances 2) I really don't want to become the voice for payday loans on MSE forums.

But as you ask my most recent profit was from wonga, borrowed £30 for 1 day and got £10 cashback from topcashback, I think the fees were about £6 so only a couple of quid there. Before that payday loans borrowed £80, paid back £100, got £50 from top cashback, £30 profit. Cant remember the other - was a while ago, but I think it was cashback from rpoints.

It also has to be said I didn't do these to make profit, but I was aware of them and used them when I needed the money in cases where I could have gone to friends and family for a ST loan, but thought I would be better making this small profit than borrowing from friends. I will not be returning to any of them again, regardless of my financial situation.

michael1983l

As long as having them accounts open doesn't intice you into going back for more then this is one of those exceptions where it is ok. Although cashbacks are not always guaranteed as I have recently found out ordering off Dell and quidco.

Daveyj2009

Would agree against payday loan. Quick easy way into trouble ive managed to get myself into a rut with them and its not nice Would much rather just avoid landlord for few days.