Advice Required

dreamcatchme84

Hi,

I have recently started a new job, but had to work two weeks in lieu and will not be paid until the 28th May - where I will receive payment for this month + those additional two weeks.

I am going to be paid by my previous employers on Friday, however, I expecting to fall a bit short in the interim due to only receiving two weeks pay.

I applied for a Barclaycard Balance Transfer card a couple of weeks ago, which I received a couple of days ago. I was hoping to transfer some money from that into my current account on a short-term basis. When I applied for the card, it suggested that this would be ok to do, however when I activated the card they informed me that the balance transfer was not possible. I was then asked if I had another card to transfer on to there, and I said I did, but I needed time to work things out before transfering that. The Barclaycard representative then informed me that it was a special activation offer and I would only be able to do it there and then. I relunctantly transfered the balance from my Tesco credit card.

Now I am in the position where I am unable to transfer the money required into my current account, and I have a balance on a credit card that I no longer want. Coupled with a £2000 graduate overdraft and approximately £900 on a graduate loan which I am paying off for the next 6 months.

The next few days are a big worry to me, and I was looking for a short-term solution to cover me during the interim. The problems are, I don't own my house (I live with my parents), I have the overdraft and loan outstanding on my current account and I now have this problem with Barclaycard.

I am wondering if I should threaten to close my Barclaycard account, in the hope that the balance transfer will be cancelled. Or that they agree to help me with a current account transfer?

If that fails, I am not sure what to do. I have been wanting to avoid the likes of QuickQuid and Wonga, but it is looking more likely that I will have to consider these as a last resort solution.

If anyone can offer any advice, it would be greatly appreciated.

tell_it_how_it_is

Erm, ask your parents for a sub?

dreamcatchme84

If that was a genuine option, I wouldn't have started this thread.

tell_it_how_it_is

Forgive me, I haven't yet mastered the art of reading minds!

Sounds like payday loan is your only option then, but be sure to pay it back on time. After that, perhaps consider putting away a few quid as an emergency fund to allow you to cover for such circumstances.

debtcutter

I think the patronising tone of your suggestion lead to that response, as opposed to the content.

Starting a suggestion with "Erm" always comes across pretty condescending.

Have you got any possessions that you can sell on Ebay? Old phone you could sell to one of the mobile purchasing sites? Cash converters etc?

Basically anything you can do that won't mean having to borrow from a lender with an APR in the thousands, even if you think you can afford to pay off in 30days, there's always that chance something will go wrong and you have to roll it over.