Urgent help needed please!

Purplehead_2

Hi, I'm a bit panicky right now as I seem to be stuck in limbo and desperately need about £2000 ASAP.

I graduated this summer and have just got my dream graduate job, for which I need to relocate from West Midlands to London. I have found somewhere to live, I will be renting a house with my boyfriend who already lives and works down there.

Problem is, I have no money left after finishing uni, but now have loads of expenses that need to be met ASAP, such as accommodation deposit, first month's rent and letting agency fees. There's also the cost of travel to get to work and general costs of living, such as food. I've been on JSA for just under 2 months and won't get my first pay cheque possibly until end of November. I don't have a start date yet for my job, but it could be in about 2 weeks' time.

I got this job due to the experience I've gained from volunteering for 2 years in the NHS, from which I actually ended up out of pocket.

I was hoping I could get a 0% credit card now, or some other kind of credit card, to tide me over and to pay all these expenses until I get my first pay cheque, but it seems that because I am not yet earning I can't apply for one. But I can't start working until I have moved to London, for which I need this money!

My parents said they can help me out a little, but they've never earned a lot of money so I don't think they can afford to lend me the whole £2000. My boyfriend can't really afford to pay more than his half of the costs etc. Also, the hospital I shall be working at cannot help me with deposit or travel loans until I am officially on the payroll after starting my job.

I don't know what to do, I am really quite stuck in this circle!

Are there any credit cards that would be suited to my circumstances?

Once I start this job I will be earning £25,400 p/a, but until then I am nearly penniless and my overdraft is almost maxed out at £1800, though I think this can be extended to £2000 (even though I was hoping to reduce the whole of my overdraft this year!)

Please, please anybody with any advice, help!!! This job is literally my dream graduate job and I have worked so hard to get it.


Thanks,

Beth.

cankle

For an alternative to a credit card, can you sell anything ie ebay some stuff or (might be controversial) what about clinical trials, I did one with covance and it was very good, really straightforward and well paid for basically staying in the clinic for a week and having gel shoved up my nose twice a day! also got all my meals as well! Obviously its not for everyone and you may not even be suitable but its only a suggestion....

DannyboyMidlands

Why do you need the rent/deposit/agency fees straight away? Won't you just be staying with your boyfriend initially?

SouthCoast

If you are still on JSA check out Social Fund Budgeting Loans:

http://www.adviceguide.org.uk/index/your_money/benefits/help_for_people_on_a_low_income_-_the_social_fund.htm

Purplehead_2

Thanks cankle, I do plan on selling some things, but at a car boot sale next week. I don't expect I'll make any more than £50 though. Clinical trials...I am not opposed to these, but not sure I could get the money I need within the next 2 weeks! How/where did you sign up for these though?

My boyfriend needs to move out of his current place ASAP, but there's a chance I may be able to stay there for 2 weeks maximum before we can move into our new place. We can't move here though until all these fees etc have been paid!

Thanks.

BitterAndTwisted

Talk to your bank about extending your overdraft facility. Show them your firm job-offer letter. You won't be able to pay your rent and deposit or your travel expenses with a credit-card even if you had one.

ognum

I hate to suggest you take on more debt but have you considered a graduate loan. Most of the banks have them available and would allow you to borrow I think its up to 10K. If you really have no friendly aunt/godparent/brother/pilanthropist who would help you out this may be a solution.

Purplehead_2

I will talk to my bank about my overdraft and any other way they may be able to help me. I haven't received the official offer letter yet, but have just been informed that it should arrive very soon as all references, CRB, etc have been done.

I didn't realise I can't pay for those things with a credit card...I was hoping I could pay straight off the card, or transfer money to my current account.

I did briefly think about a graduate loan, but was hoping to avoid this seems as I already have thousands to pay back in student debt! Maybe it is something I will have to consider if I can't get money from elsewhere.

Unfortunately I do not have any rich family members!

BitterAndTwisted

A cash transfer from a credit-card to your bank account would attract the very highest interest-rates possible. Eye-watering rates!

Wait until you have the letter from the employer and then go to the bank. A properly drawn-up budget, based on your net income and estimated outgoings will be useful. If you can prove to the bank that you could easily repay that loan over a four or six-month period they might take you seriously.

twodogsandacat

Purplehead wrote: »

My boyfriend needs to move out of his current place ASAP, but there's a chance I may be able to stay there for 2 weeks maximum before we can move into our new place. We can't move here though until all these fees etc have been paid!

Thanks.

So is he sharing the deposit etc?

Purplehead_2

I've worked out a budget already, for which I overestimated everything and I was left with £255 each month. I'm expecting this letter to arrive in the next couple of days, so will visit my bank ASAP!

Yeah we're sharing the costs of everything. The total costs of moving into the new place is about £3000 and he's already paid £626 of this.