Loan for Recent-Graduate with Debt??

pbright

Hello,

Maybe this should be in the student moneysaving thread, im unsure. My situation is that i want to go travelling & fast, before i have to settle down in a graduate job. I just finished Uni in July and decided to take a gap year before starting a serious job. I wanted to go travelling, leaving in January and returning in August/September to a graduate-job that i should have lined up for then(majority of grad scheme type jobs start then). However the work i have been doing up untill now is nowhere near enough to get me travelling anytime soon. However i dont want to go any later than the end of March, otherwise there isnt much point as i would(& kind of need) to work in Australia where i plan on spending the majority of the time.

To make this possibile i will need a loan of at-least £2000 i feel, i am wandering if this is possibile for me and how would i get it. I know that a loan isnt sensibile however i am happy to pay back the interest and it will be easier i feel as a graduate job pays much more than the type of work i am doing now. I am unsure if i can get a loan though, and thats wher maybe you can help. My debt is (£9000) to the student loan company(which is very minimal interest & i dont have to start paying back untill i make £17,000 a year). I also have 2 credit cards which are maxed out @ £500 each and i make the minimum payments(sometimes late) & An overdraft of £1,500 which seeing as its Xmas time...is now sadly almost used up also. So thats £2,500 which affects me right now & Student debt of £9000 which will when i start earning better money. Im aware that ill end up paying more back but i am prepared to as i feel i need to travel in the very near future as if i settle into a grad job i know i never will + id happily pay the interest in the future to make sure my past(right now) was great if thats makes sense.

Any help in what my best options are, would be greatly appreciated.

Emmzi

Personally if I were the bank I wouldn't lend to you unless you had a confirmed, unconditional job offer in writing to show me, and could demonstrate you had been able to save a contribution towards your travels yourself.

Add to that 'hardcore' debt (ie always maxed out) and late repayments and you don't sound like a good risk.

Is there no way you could save before you travel and avoid extra debt?

pbright

True i dont sound like a good risk..although i am not always maxed out :-D , but you are right, im aware its a mess, thats why im here. My plan is to save a some over the next 2months which i will be able to do with my job, however like i said ill need more. Theres no way i can get enough to go travelling this year unless i get a loan and as i have explained above its important to me go this year. Im interested in what you said about the job offer though....will it make a difference if i have proof of a job offer which i intend to get. Is their any non-bank organizations that would lend to me.


Thanks.

bikerqueen

you need to search for posts by a lady called mslondon. she is in australia now having paid for it all herself but started wih a huge amount of debt.