Unemployed Loans.

ineedhelp01

Hello,

Just wondering if anybody knows of any companies that offer loans for unemployed people?

I am currently in full time education, but I need a loan of around £2000 to carry on. With my student loan, I am currently recieveing around £7000 per year so there would be no problem paying it back.

Also, My credit is quite good

Any help will be appreciated. Thanks.

somethingcorporate

No chance for a loan with no income to pay it (a loan to pay a loan??).

How about a student overdraft?

ineedhelp01

The bank I am with offer an overdraft of up to £1000, which could help. I guess I could open another bank account, but what would be the minimum payment to make so I can take advantage of the overdraft?

maginot

Why do you need £2000 to carry on. The reason for the student loan is to pay for the fees and some living costs.

It us unlikely any mainstream organisation is going to lend you money without employment. £7000 loan over a year after fees and living costs is not going to leave you enough to pay £3000 loan (£2000 + interest)

Perhaps if you are doing a post graduate qualification you can sometimes get graduate loans that are deferred for a time period.

Can you get part time employment? Have you just started this year?

somethingcorporate

Usually they just require you to pay in your student loan but transferring the money between accounts should keep them satisfied.

It's been a few years since I had one but it was easy enough to open a couple. They also tend to be interest free.

davemorton

I think a part time job may be a better option.

DCFC79

Whats wrong with using your student loan ?

geoffky

Do you really think banks do not check how much credit you have available..you have no chance of a 2k loan and no chance of two overdrafts x£1000

Apples2

So if you are going to use your Student Loan...to repay your new loan...

Why not just use the Student Loan for whatever it is you desire?

If you need your Student Loan... to repay your loan, won't you need another loan to repay your student loan?

As above, you can't simply go around opening loads of bank accounts for the free overdraft facility, you do need some kind of income to obtain a loan (loans don't count).

skintandscared_2

You are supposed to live off your student loan and also do what most other students do and get a part-time job to supplement it.

somethingcorporate

geoffky wrote: »

Do you really think banks do not check how much credit you have available..you have no chance of a 2k loan and no chance of two overdrafts x£1000

I was never credit-checked for a student account / overdraft.