Need a loan asap (rent arrears)

coubury · 25 June 2010 at 2:11PM

Need a loan about 500 quid

Applied for Greenwoord finance 300 and the man came out yesterday and offered 150 but came out to see me and then rang whoever and managed to get 200 for me.. all being well he said he would be out tonight to fill out something else and i should have the funds tonight at 7pm..

Now the problem is i need 300 more.. for rent arrears im currently unemployed at the minute but im getting about 600 a month from benefits and various other sources of income (fixing electronics xboxs etc etc)

Is anyone aware of any other lenders like greenwood?i tried provident but they refushed me :S

I live in a private rental furnished house.. my credit rating wouldnt be the best i currently have no bank account atm owed the bank money from ym current aco!!!! but manged to pay that all back but couldnt reopen one. i could however reopen just a savings account but never got round to it.

Can anyone help?

Cheers.

tasha-debt · 25 June 2010 at 2:14PM

HAve you applied for housing credits to help you pay your rent........ are you going to be able to repay these loans???

tasha-debt · 25 June 2010 at 2:15PM

p.s anyone can open a basic bank account, I think the co-op do one. Its just a basic account with a cash card, no OD etc.

Tixy · 25 June 2010 at 2:19PM

If you can pay off £200 from the arrears perhaps you can negotiate with your landlord to pay off the remaining arrears over the next few months. Better than getting another loan and cheaper as well as you won't be paying stupid amounts of interest.

How come the arrears have built up? sometimes if you have had difficulties in making your payments in the past you can arrange to have your housing benefit paid straight to your landlord to save you being able to run up arrears in future, then you only have to pay any difference between your rent and your housing benefit.

You need a bank account of some sort - i would suggest you open a basic bank account with a new bank.

andymc29 · 25 June 2010 at 2:40PM

if you take out a short term loan of 500 now, you'll need to pay it back very quickly to avoid large amounts of interest, how are you planning to do this?

immoral_angeluk · 25 June 2010 at 2:51PM

Have you put in your claim for local housing allowance and council tax benefits yet? Call your local council ASAP!

sneaky · 25 June 2010 at 2:54PM

Taking out a loan will help you this month but what wil you do a few months down the line when you are in the same position. Go to your neighbourhood office and find out what benefits are available to you. If possible try and find a cheaper place to rent. Taking a loan should be a very last resort as it will cause more difficulties rather then solve any.

coubury · 25 June 2010 at 5:32PM

I only have to pay back 10 quid a week to Greenwood which is nothing.. if i got another loan that at the same rate or even 15-25 then thats managable

The rent arrears have got so high because the housing benefit didnt pay a smuch of my rent as i thought.

Its 85 a week and they only pay 45, in my last house which was 100 a week they paid it all :S

I dunno what council tax benefit is and don't think i have eve rhad to pay council tax

[Deleted User] · 25 June 2010 at 5:38PM

It may 'only' be £10 per week to pay back, but what will the total you'll pay back on the £200 loan? A huge amount I'll bet.

ILW · 25 June 2010 at 5:41PM

If you cant afford to keep up with your rent, how do you expect to pay the extra £50 per month on the loan?

immoral_angeluk · 25 June 2010 at 5:44PM

Contact your council and see if they do discretionary housing payments which can top up your local housing allowance if it's being paid at a lower rate than your rent.. but it's only for a temporary period so won't help long term. You may want to start thinking about moving to somewhere with a cheaper rent o reducing your outgoings if this is going to just keep snowballing..