Best way to get a loan of £20,000 with 0% interest (employed)

chesky369

The reason he won't tell his wife is that he's obviously tried to sell her the idea already and she's told him to get real! I love the thought that she won't notice him not having two pennies to rub together trying to make these huge repayments.

Can't make up my mind whether it's a troll or just deluded.

Not that we have to worry, he won't get what he wants in a month of Sundays.

RobertoMoir

Cell wrote: »

Perhaps you're too close to it to see how it looks to outsiders. What you're asking to do is keep a £20,000 loan secret from your wife, but then rely on her to subsidise the loan payments.

Don't forget the "0%" bit where the loan company is supposed to lend this money for nothing in return. That's another onion in the ointment.

Apples2

Asbokid - Is that you?

MoneyMagic01273

Hmmm, something tells me that even if the OP did miraculously get his hands on £20k, it is not going to end well. Certainly not for his poor wife

Noone with so little financial acumen that they believe there is a legitimate way to get their hands on £20k for free on a £12k salary, then expect to pay it back over a year whilst keeping it a secret from the person that is essentially paying it, is capable of concocting a genuine money-making business plan.

chalkie99

You did WHAT!!!!

gingeralan

wis wrote: »

It doesnt matter. Its nothing illegal. Its just a business opportunity and I had already stated earlier that "Thats what the loan is for - I will have an income stream. The first few months, £1100 can come out of the loan itself or from my salary (only first few months cos of my tiny salary). Then, it will be making enough money to pay the loan off".

Just take it that I am looking for a career change and from my spouse's perspective, I have a whole year before I start helping again. So for the year I can start something I had been wanting to do with my salary - Only I need more money now instead of 12months later.

If it's for a business opportunity you well need to write a business plan and approach lenders see if they will agree to your request. You will not get this for 0%.

If it's such a good opportunity you should have no problem convincing a commercial lender.

SUESMITH_2

didn't realise it was april the first?

oh dear, if you apply for a loan they will want to know how you can pay for it and you can't.

you can default you tell us, have you any idea what its like to default and the consequences of it? if you're getting shirty with us now just wait until the phone calls start and the bailiffs come a knocking - will your wife still be sympathetic to you? do you have any idea what it will do to your credit history? but obviously this won't happen to you as you seem to think you're a special case.

good luck, and keep us informed of your progress