Really need small (£750) loan

Skint_Lynne

sarah_85 wrote: »

I've got a bad credit rating, previous bankruptcy, etc. etc. I'm really trying to manage better, but my car suddenly needs major repair. I really need to borrow £750. Any suggestions? I've been down the QDL (and their like) road and all need a guarantor, which I cannot provide. I've applied to people I thought might be sympathetic - like my bank - but it's a no-no. I've probably made my credit rating worse by these applications, but I am rather desperate. Has anyone got any sensible suggestions? BTW, payday loans are no good cos' I won't have any more money next month.

This is maybe what I would try if I were in your situation:

CREDIT UNION - Someone else has mentioned this, are you a member of one? A good place to save and get loans, especially if your credit rating is bad. However, these are 'owned' by the members, so if you have a concience, do not default here.

SELL THE CAR - Sell it, and try and pick up a runaround to get you by until you save up, probably in the credit union. It is possible to pick up a car for a couple of hundred pounds, it will get you around for a few months. I remember my DH swapped his mountain bike for an old car - the bike had cost him £30, and the car went for about a year.:rotfl:

I would never again go to a bank for a loan or to provvys or the like, credit unions offer reasonable interest rates and benefit the community, so it is a good idea to make use of them.

Please try and get by without more debt, it's allright at the time, but a nightmare when you've to pay it back and you are on a low income as it is. Also, you don't want to go down the slippery slope of bankruptcy again.

I hope some of this helps, maybe some food for thought. Even if none of these are any good, is there anyone who would pick you up for work for a bit, the extra petrol money might help them?

immoral_angeluk

£750 is not a small amount if you can't afford to pay it back straight away.

RuthMarianna

immoral_angeluk wrote: »

£750 is not a small amount if you can't afford to pay it back straight away.

It is a relatively small loan and if someone could pay it back right away thay would not need to borrow it would they? Someone would have to be on a very good income to repay £750 from one months pay and I do not know anyone who could do that.

immoral_angeluk

RuthMarianna wrote: »

It is a relatively small loan and if someone could pay it back right away thay would not need to borrow it would they? Someone would have to be on a very good income to repay £750 from one months pay and I do not know anyone who could do that.

Exactly. If you can't afford to pay it with money you have already or can save, then it is not a small amount. It's a small loan, I agree, but it's not a small amount of money unless you're on a high income.

Apples2

sarah_85 wrote: »

Come on... it's hardly a large amount. I can accept a high interest rate

sarah_85

Thank you those with sensible solutions - I'm looking at credit unions now. But I do find some people's attitudes interesting. Almost like it's a religion to live frugally. Well, it isn't. As to whether my bankruptcy taught me anything - not really. Several banks lost out and if you feel sorry for them, well, I don't believe you. I had to give up a great deal that I enjoyed, but I hung on to a car (even the official receiver accepted I needed it), and my dogs. (Who I'd never give up.)
I'm also interested that so many of you suggest selling the car. You might realise that as it needs a large repair, I could only sell it under false pretences. Now I may be dishonest in my attitude to money, but I'm not so dishonest as to stitch up some poor individual.
Anyway, as I said, it's been interesting.

sarah_85

Does he buy his own dog food?

BLT_2

RuthMarianna wrote: »

It is a relatively small loan and if someone could pay it back right away thay would not need to borrow it would they? Someone would have to be on a very good income to repay £750 from one months pay and I do not know anyone who could do that.

I could (but I would have to live reasonably frugally the next month)

Not because I am on a great income but because I'm a lazy git and eat total crap

myothercarisaferrari

hi sorry its me that works 5 miles away! i work on a major business park only accessible off a motorway junction - I'm all for money saving on bus fares but I dont want to walk/cycle on the motorway each day 1 bus from the village I live in to town, bus from town to work - £11 a week:D:money:

woody01

Come on... it's hardly a large amount.

It is to you as you haven't got it.
That is the kind of attitude that led you to bankruptcy in the first place.