A loan to tide one through a long bout of unemployment

GoldieSilvermann

Hi alll,
I am bout 3000 pounds in debt and have a credit score of about 700 ( Experian) due to losing my job last summer 2009 ( redundancy) and living off my overdraft.
I am about to start work in October and will be earning approximately 1800 month problem is I need a 500 pounds loan to help tide me over till I get paid in November as I am currently out of money completely. I dont have family I can borrow it from and I can't get a payday loan since you have to have been getting paid for at least 2 months.

Does anyone have any suggestions. I almost went through the personal loan route but unfortunately i doubt I would get it now

Sad thing is that during my vchat with a personal banker at natwest, I was told that once I start work they would be happy to give me loan but I wont need it then, would I???

jon_boy75

your options are extremely limited, unless you stretch the truth on an application (no comment!)

people will only lend you money if you have the means to pay it back, but i sympathise with you

if you're on jobseekers allowance, they may give you a crisis loan to tide you over, especially if you can prove you're starting work soon

Simon11

Why not ask your new employers to see if they could pay part of your wages earlier?

Fortheloveofmoney

Do you have anything you could sell to tide you over? I'm not sure that anyone other than a loan shark would lend to someone who currently doesn't have the means to pay it back.

GoldieSilvermann

Thanks for the suggestions all I have started selling some books online via Amazon but they are not moving fast enough ... So frustrating

I sorta dont want to give the wrong impression to my employers by asking them for money before I start work. but I will give the job centre a try on Monday.

jon_boy75

GoldieSilvermann wrote: »

Thanks for the suggestions all I have started selling some books online via Amazon but they are not moving fast enough ... So frustrating

I sorta dont want to give the wrong impression to my employers by asking them for money before I start work. but I will give the job centre a try on Monday.

please dont ask your employer...first impressions and all that

[Deleted User]

Your JSA will stop the day before you start work,however the following week you will get a £100 back to work bonus,and if you have been getting housing and or council tax benefit you can request a 4 week extetntion of this.

Emmzi

I don't think books will be enough! can you pawn your telly, computer, games consoles, and old jewellry lying about?

I too don't think you'll get a loan unless it is a bit sharky. Provvy loan *might* work for you if you can be sure not to blow your first paycheck and pay it all off!

katsu

try your local credit union - they might help?

darkblue_2

I thought JSA kept going until the first pay cheque?

What about a budgeting or crisis loan?

pmduk

Try the debt-free wannabe board for help on cutting outgoings. Stop paying experian for your credit figure. It is a totally worthless number that is of no use to you. No lenders use it, as they all have their own individual scoring mechanisms.