Which quick loan company??

Gemsk85

Hi

Need some advice/guidance. I'm currently on maternity leave and getting statutory pay only (which is about 1/3 of what i was previously earning). My partner doesn't earn a lot an we are really struggling. I'm constantly going over my overdraft atm which I hate, and am being charged £5 a day. I have just registered for my credit report so don't know what it is like yet. I contacted my bank in hope of extending my current loan but was advised I would be refused if I applied because I am earning a lot less now (maternity pay). I'm now considering one of these TV quick loans over 12 months (something like pounds to pocket) although I know I'll get stung with interest, two questions really 1 is it likely I would be accepted if I apply, as I know refused applications will affect my credit and 2 which is the best one to go for, or are they more or less the same?

Thanks for your info

BugsyBrowne

Have you tried your own bank?

PTP would charge a grand to borrow a grand.

Gemsk85

Yes, like i said "I contacted my bank in hope of extending my current loan but was advised I would be refused if I applied because I am earning a lot less now (maternity pay)."

Fruit_and_Nut_Case

BugsyBrowne wrote: »

Have you tried your own bank?

Gemsk85 wrote: »

I contacted my bank in hope of extending my current loan but was advised I would be refused if I applied because I am earning a lot less now (maternity pay)

Oops, I typed too slowly.

Gemsk85

Obviously just skimmed through it lol.

BugsyBrowne

Gemsk85 wrote: »

Obviously just skimmed through it lol.

I must of skimmed through it to as my answer was answered in your first post.

Peelerfart

Getting an expensive loan on reduced income is a recipe for disaster IMHO

Gemsk85

BugsyBrowne, I just want to be clear I wasn't being funny. Just stating that you must have skimmed through my post. I appreciate any comments and advice.

Peelerfart - I know it's not ideal but with the current state of my finances and outgoings I don't really have much choice. I need money and need it quick. It just sucks that we work all our lives than start a family and get no help from the government, because (and this is what REALLY bugs me) we earned too much last year as a combined income??!! So we're not entitled to working family tax credit, although they have only just reduced the threshold and we didn't earn what it was last year, but they can't back date it...oh no, but they can back date we we earned??!! Leaves me fuming!...sorry rant over

electrobix99

If you are gooing into your overdraft all the time then how are you going to afford the repayments on the loan?

DCFC79

OP have you looked where your money is actually going, can your OH take another job.

R_P_W

Unless your circumstances are going to greatly improve before your pay day loan is due (which I assume you dont have yet) then I dont see how taking a pay day loan will help at all. What is will do is make your situation worse. The interest rates are VERY high and lots of people dig themselves into deep holes of debt.

I empathise with your situation but PDL is not the solution. In fact, borrowing any money whether from PDL or anywhere else that charges interest to cover day to day living isnt sustainable.

Why dont you post you SOA detailing your incomes and outgoings and maybe people on here can give some useful advice on how to make some savings here and there?