Advice on a Join Loan.

Peeky

If you are able to afford to repay a loan i think your benefits need cutting. Its appalling the unemployed need/expect money for cars etc. The world has gone bonkers.

KingElvis

RichGold wrote: »

I still don't understand this thread. Not one bit.

Anyone care to fill me in?

To boil it down.

1. Skint couple who have no jobs.
2. Caring for a sick child.
3. Hovering on debt, late payments etc
4. Want loan to spend on 5k car (noodle doodle)
5. Want to pay off other loans, cards etc
6. Can't understand why nobody gives loans to unemployed people
7. Lots of people giving sensible advice
8. Game ends

InFi[D]eL

KingElvis wrote: »

To boil it down.

1. Skint couple who have no jobs.
2. Caring for a sick child.
3. Hovering on debt, late payments etc
4. Want loan to spend on 5k car (noodle doodle)
5. Want to pay off other loans, cards etc
6. Can't understand why nobody gives loans to unemployed people
7. Lots of people giving sensible advice
8. Game ends

^^ Close enough.

InFi[D]eL

Peeky wrote: »

If you are able to afford to repay a loan i think your benefits need cutting. Its appalling the unemployed need/expect money for cars etc. The world has gone bonkers.

Well you tell me how we're supposed to get to school then back twice a day and actually get out of where we live with no buses, period. The nearest town is 8 odd miles away. That's exactly one of the contingencies that carers allowance and DLA account for so although I don't disagree in some instances where people claim benefits they're not entitled to, we get what's due. The morality of benefits is truly a red elephant.

Kefte

There are options like wheels2work that most councils operate now who will loan you a Moped should you find employment - and car share options.. I know it won't entail you to help your friend in the short-term. Or a few hundred pounds on a small car (any mechanical friends who can help you pick something decent?), it might last you only 12 months perhaps - so-what? - it's probably what you would have lost in interest on a Loan anyway if you work it out. But if it helps you get back into work and get you back on track And the car might not be more modern - as long as it gets you from a to b.

Btw - I think it's great you are helping out your friend and their daughter. Good Luck, put your energy to earning some money and getting those debts paid off. xx

XXSCOTSLASSXX

oh am getting confused with this thread lol no buses period where u live which u said is out in the country... nearest town 8 odd miles away... the car u are both proposing to get is for your friends use, u dont like to drive... yet you are actively seeking employment.... how do u get to any employment if you do find any will she be ferrying you too and from any job?

no offence but she is some friend!! to be honest you live in her house, rent free am presuming as she will be entitled to housing and council benefit... you also say u receive a carers allowance for which you have stated the child only needs 1 full time carer which realistically the mother would be fully entitled too... she is was also willing to put approx 4 times your income at stake for a loan that would have cleared you off all debt... is all sounding more and more bizarre by the minute...

InFi[D]eL

Kefte wrote: »

There are options like wheels2work that most councils operate now who will loan you a Moped should you find employment - and car share options.. I know it won't entail you to help your friend in the short-term. Or a few hundred pounds on a small car (any mechanical friends who can help you pick something decent?), it might last you only 12 months perhaps - so-what? - it's probably what you would have lost in interest on a Loan anyway if you work it out. But if it helps you get back into work and get you back on track And the car might not be more modern - as long as it gets you from a to b.

Btw - I think it's great you are helping out your friend and their daughter. Good Luck, put your energy to earning some money and getting those debts paid off. xx

That is a fantastic idea and a very good point about the interest. I'm going to get in touch with the "local" council and find out if that's a possibility up here.

(Friend and son the autistic child is male don't know where the girl idea came from, maybe I made a typo earlier :S, lol)

RichGold

KingElvis wrote: »

To boil it down.

1. Skint couple who have no jobs.

He has said they aren't a couple, yet he's trying to get credit as though they are. That's the bit I don't understand. Why go into enormous debt (and it is enormous debt as he has no income) to furnish "a friend" with a vehicle. Seems like a long way to go for a friend, which as I said earlier leads me to believe he's either being mugged off or he's very naive or both.

InFi[D]eL

After reading through again I realized I missed an important factor. The reason my friend thinks getting credit will be hard is not because she is in heavy debt or have a poor credit history. It's simply because she doesn't really have one. She's never really applied for any credit and aside from a contract mobile of a couple of years and a Vanquis card that's she had only a couple of months there isn't really anything on her record.

RichGold wrote: »

He has said they aren't a couple, yet he's trying to get credit as though they are. That's the bit I don't understand. Why go into enormous debt (and it is enormous debt as he has no income) to furnish "a friend" with a vehicle. Seems like a long way to go for a friend, which as I said earlier leads me to believe he's either being mugged off or he's very naive or both.

It may seem extreme but it's a manageable amount, using the upper most repayments we've seen online as a template to the most we'd have to pay P/m. As for why, it might seem a little strange and risky but our friendship is close and there's a strong mutual trust. The loan would benefit us both, besides. I would get as much benefit from the car or near enough.

XXSCOTSLASSXX

yes he has said they arent couple yet refers to benefits received as 'we receive'.... 'we' dont receive anything as stated many times by the op they are financially independant... the mother receives all benefits etc that she is legally entitled too and quite rightly so that is for her and her children...the majority of the income to be used in sourcing any loan is the 'friends' .... assuming any loan would be split 50/50 payment wise, yes the op would have been debt free had this loan materialised however he would never have been able to pay 50% of any loan payment due on a 6K loan for the next x amount of years .... in my opinion he is being neither mugged nor naive....