We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Quick Quid....Thoughts?

13»

Comments

  • KingElvis
    KingElvis Posts: 4,100 Forumite
    I would use the payday loan to part pay the other loan, then loan your seperate loan back through your OH, pay your mobile on a retainer and then pay back the original loan from the proceeds of the retention plus interest to the cat. You could also try to factor some of your payday loan through a third party lender to take some pressure of the mobile bill.

    But seriously, why make it so complicated.....I would just ask my oh and not get into the payday trap.
    "We want the finest wines available to humanity, we want them here, and we want them now!"
  • This is from experience. DONT DO IT!!!
    you are taking one loan to pay another. next month you will have to pay pdll other loan on top of all normal expences.
    You will be in the trap. Really dont do it
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.5K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.1K Work, Benefits & Business
  • 600.7K Mortgages, Homes & Bills
  • 177.4K Life & Family
  • 258.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.