Urgent advice needed regarding Loans

Saints2011

Overdrafts are fine BUT repayable on demand, if we are talking a month should be ok ..

TG82

Are people reading my previous posts?

I already have a maxed out £1500 overdraft.

If the bank isn't going to give me a loan, I don't see why they'd extend my overdraft by the equivalent amount.

Am I wrong?

I'm thinking of trying a crisis loan. The eligibility criteria is ambiguous, but I may meet it.

Or would that be wasting my time?

hcb42

OP: people are reading your posts, and offering advice, you are not choosing to read it.

Ask your employer if they can offer assistance, this is not as unusual as you think

call into your bank and say you have a great new job and a short term cash flow and see what they can do.

Other than that, you need to beg and borrow, preferably avoid the steal, and get yourself there. Not sure what you want anyone else to say?

mutter

You mention you've been studying.
Have you got a student/graduate type of bank account?

If so, I'd join with those saying you should go and talk to someone at your bank because they are often very helpful to people who are moving from uni to work.
They'd be most likely to extend your overdraft for three months or so.

Even if that's not exactly your situation, they might be your best bet because it's going to be close to impossible getting a loan without having the conversation that explains why you can't show proof of income as it's all in the future.

keith1950

Another fine example of somone supposedly coming on here for help and then sniping back with attitude.

Emmzi

I have been a bank manager

I would have lent to a graduate with a contract in his mitt

That is why I suggested it

But by all means lash out at me and don't try if it makes you feel better

But, you need tyo get yourself down to the bank, and talk to someone, for the computer will say no.

CH27

keith1950 wrote: »

Another fine example of somone supposedly coming on here for help and then sniping back with attitude.

Sadly, it's becoming quite common.

pmlindyloo

I can understand that you are wary of approaching your new employers.

Could you ring them and ask if they know of any cheap places to stay/know of anyone who is advertising a room just while you 'get on your feet'? You do not have to ask for a loan/part payment of salary. If you say things will be a little 'tight' until you get paid they may offer the money themselves.

Honestly, it is not unusual at all for employers to be approached this way.

We are all trying to help.

Clive_Woody

TG82 wrote: »

Thanks, but my overdraft is already maxed at £1500. I have a good credit rating though - I checked. No store or credit cards.

Your current OD is maxed but when presented with a job confirmation letter/contract then a reasonable bank manager will consider upping your limit on a short term basis.

This is exactly what I did when I completed my PhD and moved from Cardiff to Surrey and had no available short-term funds.

A bank is more likely to consider offering you a temporary increase in your OD limit than giving you a big long term loan. Be realistic on how much you will need before to cover you before your first payday and how quickly you can clear the OD and take your figures with you when you go to ask your bank manager for help.

TG82

keith1950 wrote: »

Another fine example of somone supposedly coming on here for help and then sniping back with attitude.

No no, some people have been helpful. Those who can't be, or can't be bothered to read what I've written, might as well not post. I understand there aren't easy answers.

I'll look at getting an extension to my overdraft. All I know is I'm not optimistic. I asked them to extend it on a short-term thing a few years ago and they said No. But I was a student then, waiting for my bursary which was late coming through. This time I'm going into work, although that doesn't seem to impress them.

I still can't see why a bank would allow me to extend my overdraft but bar me from a loan - but I don't understand the financial world