a little help for a newbie.

leeb252

Hi all, I have had a problem with payday loans in the past. I had about 8-9 at the same time and the interest alone was more than I was making in a month.

Recently I have turned it all around.. ALOT I still have 2 pdl left and I am coping by paying £25 a month to each (which I can afford)
Now my problem is that I need to find some money within the next 2 months (November is a busy period ((Lots of birthdays))

DO you think I should go down the route of borrowing £150 from Moneyshop then repay 180- take out another 150 - payback 200 - takeout 130 - repay 220 etc etc, or should I get a new phone from orange £30 a month sell the phone I get to one of the cash brokers for £300?

both prob not great ideas but out of the 2 which would you suggest?

Apples2

After all your hard work you want to spank hundreds away on presents?

leeb252

Apples2 wrote: »

After all your hard work you want to spank hundreds away on presents?

It sounds shocking, but I want to thank the people who helped me through this, girlfriend, daughter and my parents. It's when I admitted my problems to these people that I managed to turn it around with their help.

opinions4u

DO you think I should go down the route of borrowing

It would be the act of a stupid person.

Small gifts at most for birthdays and Christmas. No borrowing for them at all. Fiver each?

When you are debt free and have savings, use some of the savings to buy thank you pressies.

but I want to thank the people who helped me through this

You're not through it. Your instinct is still to borrow. You still have debts. You want more debt.

In my opinion buying them presents with newly borrowed money would be insulting them and throwing their support back in their faces.

leeb252

opinions4u wrote: »

Small gifts at most for birthdays and Christmas. No borrowing for them at all. Fiver each?

When you are debt free and have savings, use some of the savings to buy thank you pressies.

You're right, it always helps me for some reason if I hear someone else tell me it's a bad plan.

Thanks :beer:

Apples2

If I helped someone start the climb out of debt by offering support/money, He would be getting some loud harsh truths if I saw him running around splashing money on presents.

You really do need to learn the lesson as well as finding a way out.

leeb252

Apples2 wrote: »

If I helped someone start the climb out of debt by offering support/money, He would be getting some loud harsh truths if I saw him running around splashing money on presents.

You really do need to learn the lesson as well as finding a way out.

I havent borrowed money off anyone in my family, I was stuck in a rut with paying off these companies but I would never put family through that.

DCFC79

Something small/non expensive should be fine, those who helped you know whats going on and im pretty sure they dont expect you to borrow more money just to spend on presents for them (especially since they have helped you/been there for you). What they are hoping for/do expect is for you to have these loans paid off as soon as rather than go 1 step back then once the pdl are paid off then maybe you could think about buying those who helped something extra.

But at end of the day its your choice.

Janie4Now

leeb252 wrote: »

It sounds shocking, but I want to thank the people who helped me through this, girlfriend, daughter and my parents. It's when I admitted my problems to these people that I managed to turn it around with their help.

But you're NOT out of debt yet. The biggest present you can give any of these people is NOT to get into debt again. I am certain that they would prefer something small - even nothing except a hug - rather than you borrow again.

spendaholic66

Ok, let me get this right, you want to borrow money to buy gifts for the people who helped you when you were in trouble for borrowing money?

Hmmm, hopefully you'll find your answer in my statement. Material gifts when you can't afford it are not worth the paper they are wrapped in. Better to write a nice message in a card, which trust me will mean a heck of a lot more.

Fiddlestick

leeb252 wrote: »

It sounds shocking, but I want to thank the people who helped me through this, girlfriend, daughter and my parents. It's when I admitted my problems to these people that I managed to turn it around with their help.

I think they would be pretty disappointed if you then threw their help away by borrowing money to buy them gifts.

I know in the circumstances the first thing *I* would do would be to facepalm.