Need loan ASAP - no job

Emmzi

so what do you do in the next fallow period? if you didn't manage to save this year you certainly won't when you have a loan to repay too, you need to look at something more radical. cutting expenses somehow. or lodger. etc.

chesky369

Your employment plan is really not viable on a long-term basis. It reminds me of the old days in UK holiday resorts, when everyone worked fine during summer but had to ensure they had enough 'put by' to last over the winter. You're already finding that your way of working doesn't sustain you the whole year and you will always have the same problem as long as you are reliant on your current employment. You will have to face up to this before you are able to move on.

zeitgeist.beagle

I have guaranteed employment every year from April til August, this has been every year for the last 6 years. I'm the head biologist at a fishery. This won't change, it is beside the point.
Usually I find freelance jobs over winter and it has never been a problem before, I have always been employed without fail for the last 6 years during this period.
I am a very frugal person and luckily I save for situations like this.
Regarding the seemingly illogical process of paying off a loan with a loan: one of the options as to what the loan was going to be used for, e.g. home improvements, repairs, holiday etc was "pay off another loan". Why does that idea seem so far-removed from reality? I'm not debating the morals of such an option but I will say its indicative of this credit culture. I rang my bank regarding my loan rejection as they were not explicit in telling me why I was refused, turns out it was because I have no credit history so no rating, good nor bad. Null. Zero.
Who's helping people like me out? Just seems very unfair that I stand to lose a lot for the sake of a couple of grand.
I have rewritten a C.V. and taken off all academic achievement. I will be reapplying for any jobs now. Just something to tide me over.

ILW

zeitgeist.beagle wrote: »

I have guaranteed employment every year from April til August, this has been every year for the last 6 years. I'm the head biologist at a fishery. This won't change, it is beside the point.
Usually I find freelance jobs over winter and it has never been a problem before, I have always been employed without fail for the last 6 years during this period.
I am a very frugal person and luckily I save for situations like this.
Regarding the seemingly illogical process of paying off a loan with a loan: one of the options as to what the loan was going to be used for, e.g. home improvements, repairs, holiday etc was "pay off another loan". Why does that idea seem so far-removed from reality? I'm not debating the morals of such an option but I will say its indicative of this credit culture. I rang my bank regarding my loan rejection as they were not explicit in telling me why I was refused, turns out it was because I have no credit history so no rating, good nor bad. Null. Zero.
Who's helping people like me out? Just seems very unfair that I stand to lose a lot for the sake of a couple of grand.
I have rewritten a C.V. and taken off all academic achievement. I will be reapplying for any jobs now. Just something to tide me over.

Sadly, the finance industry in not in business to help out people in need. Don't think it ever was.

DCFC79

zeitgeist.beagle wrote: »

Who's helping people like me out? Just seems very unfair that I stand to lose a lot for the sake of a couple of grand.

The couple of grand is money belongs to the lender so it is fair as they want to be paid the monthly payments if you didnt happen to get a job to cover the 2 and a half month gap when you start working again.

Sounds very fair to me, you just have no credit history so not that bad.

Emmzi

zeitgeist.beagle wrote: »

Who's helping people like me out? Just seems very unfair that I stand to lose a lot for the sake of a couple of grand.

Yourself, what with the banks being businesses and not social services or charities. You are unemployed at present so your ability to make repayments from your own funds = nil therefore your risk is high.

If you are forced to sell the house there may be advice on new places and a rent bond available. But the resources go to those in most dire need, which currently, is not you.

What can you sell? laptop? car? Telly? Jewellry?

chesky369

zeitgeist.beagle wrote: »

I have guaranteed employment every year from April til August, this has been every year for the last 6 years. I'm the head biologist at a fishery. This won't change, it is beside the point.
Usually I find freelance jobs over winter and it has never been a problem before, I have always been employed without fail for the last 6 years during this period.

It is very much NOT beside the point - the whole point is that your income is exceeding your outgoings on an annual basis.

As you are discovering, the economy has changed and jobs are more and more difficult to find, particularly when, as in your case, you're only seeking something for the next three months. If an employer is going to take someone on, then they want to be assured that the employee will leave when the employer wants them to, and not just after a couple of months.

Lastly, you can pretty much never pay off a loan with a loan. This board is full of people who have 'consolidated' and are back on here within a year or so, their plans having collapsed entirely.

chesky369

..... oops slip of the finger (or brain) your outgoings are exceeding your income - unfortunately for you.

AndyCash

Have you got anyone that could act as a guarantor? There is company called FLM loans who will give you a 3k loan if you can get someone who is a homeowner to be your guarantor. Its not ideal and the APR is not great but it might get you out of your current situation?


PS some of the comments on here are rather rude and critical and not at all helpful really. If you have nothing to add then why bother to reply with a nasty comment other than to get your post count up?

Tixy

You do not stand a chance of getting a loan whilst unemployed (having no credit history compunds the problem but regardless, no income = no loan). You can think its unfair or disagree with posters on here as to why its a good idea for you, would or would not solve your problems, but its all academic because you won't get a loan.

Good luck with the job hunting.
I would suggest focussing not on what you would do if you could get a loan, but on what other options you have and ways you can bring in some money (anything from selling the house to things like a lodger or renting out your house whilst you house share elsewhere etc).

If you manage to get through to April then I would think very carefully about what you will do next winter if you are again unable to find freelance work. Will you be able to earn enough in 5months from April to Aug to live on/pay all your bills for the 12months from April to March next year?