short term loan - 4 weeks

Curly_Girl

Hi

I wondered if anyone can help. I have just found out by the wonderful financial ombudsman service that they have upheld by claim with an insurer for a PHI policy. This means nearly 4 years of back payments and reinstatement. I'm delighted. Unfortunately during this time I have amassed debts and have a poor credit rating now (not surprising really, but I've never had money problems till now). I need to borrow approx £3-£5k till my settlement comes in (which is a final ombudsman decision) so there is no doubt I will get the money.

Can anyone suggest a way I could borrow some money, in advance of my large settlement which doesn't involve a long term loan or pawn shop interest rates (bearing in mind my current credit issues)?

Thanks in advance

BugsyBrowne

You can't borrow that sort of loot with a poor credit rating it just doesn't work like that.

Macca83_2

I don't understand. If you're getting a large settlement, then why do you need to borrow 3-5k in advance? What's so important that it can't wait?

opinions4u

Just wait.

Curly_Girl

I want to take my family on holiday after 4 years of hell we deserve a break

Curly_Girl

Perhaps I should add I'm getting the max from the FOS final decision with a recommendation (though no legal obligation) for more. I wondered if someone would be prepared to accept the letter that's sets all this out as a kinfolk of commitment/overdraft. Cheers.

Spamfree_2

Curly_Girl wrote: »

I want to take my family on holiday after 4 years of hell we deserve a break

After 4 years of hell, another 4 weeks won't make any difference really will it?

maginot

If you already have debts and a poor credit, no one is going to give you a loan.
If you deserve a holiday, start saving! Use your settlement to pay off some debts and use the money that was being used to pay off the debt.

This way you will be able to enjoy holidays over the long term rather than just once in the short term!

mallada

I can understand wanting to take family away, however surely this can wait until you have the money in your account?
Any short term method for such funds would be expensive in interest (assuming you could even find one).

No where would loan it cheap even on good credit, as they would not get much back for the risk.

I am guessing you wanted to go away before school goes back but maybe a half term would be better and also let you seek a better deal?

Curly_Girl

Its about getting a holiday in ithe school holidays. If you imagine what its like to have no cash for nearly 4 years (stress off the graph) then get your salary in one hit. We just need a break and wondered if theres a finanacial solution I'm not aware of. It's not a reckless decision as my Settlement is more than debts and my ongoing income is good.its simply a question of timing. I'll pop the the bank for a chat otherwise it will have to be the half term. Thanks to those of u for constructive comments!

Macca83_2

Go in the October holidays, or the Christmas holidays. Just slow down, take a breath and wait for the settlement to come in. If you go into borrowing money all gung ho, then all its gonna take is a delay in getting your payment and you'll be up the brown creek without a paddle.