Which quick loan company??

DCFC79

R_P_W wrote: »

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?

Yep post up an soa on the dfw if you want OP.

Gemsk85

It's not a pay day loan as such, I will be paying it off over 12 months, not by my next pay - I know I wouldn't be able to afford that.

Malky

Probably not what you want to hear but going onto maternity pay wasn't exactly out of the blue so why didn't you do something about this months ago?

Anyway, could you realistically pay back £160 per month for the next 12 months with a PTP loan?
You'll be no better off going down this route if you're already paying £5 per day (£150 per month) for your overdraft.
Get over to the DFW board and get advice on your current finances there.
A PTP loan or any other loan for that matter is not the answer given the financial position you are currently in.

Gemsk85

Not really, we didn't exactly plan on having a baby, and its our first so had to spend any spare money we had on baby products, cot, pushchair, car seat...etc etc. If I'd had spare money I would have saved but there was nothing to save! Also I don't think anyone can prepare you for just how expensive it is having a baby. At first we seemed to be doing OK, but it has caught up with us now

malkyh

Gemsk85 wrote: »

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

This may not go down well but why should the government have to help you financially just because you choose to have children?

Apples2

Gemsk85 wrote: »

Also I don't think anyone can prepare you for just how expensive it is having a baby. At first we seemed to be doing OK, but it has caught up with us now

Many of us have been in exactly that position but seriously, a loan is not the answer.

Kids don't get cheaper as they get older, things get worse financially. You're going to need every penny of your full time earnings to keep up, having a HUGE amount of interest to repay on TOP of the meagre loan you borrowed will cripple you later on.

The only option is to cut down to the bone, live like your Great Gran did for a few months and struggle through it, take a big hit now whilst it is short term rather than spend a Loooong time in a mess.

LL30

OP - what were your combined earnings for last year? For tax credits purposes, you need to minus £100 a week from your SMP to calculate your income for this year. When you ring up tax credits, you need to get in the system. They may well reject your claim due to last years earnings. However, you can ring up and report a change in circumstances due to your earnings and this should bring you under the threshold. Tell them you want to go on an estimate for this years earnings. Be warned, they do not make it easy though and may well tell you you can't do that, but you can. I'd suggest CAB if you're struggling with it all. Do you rent? Even if you don't and are paying a mortgage, have you tried looking at your entitlement to council tax benefit?

Don't take out a loan.

Gemsk85

I do rent, I've not looked into council tax benefit but will do.

combined for last year was £36k.
I did discuss the change of circumstances with working family tax credits but the just sent me out the standard form...! I will get back onto them about it.

After going through my finances and a long discussion with my partner we've found a few things we can cut back on to reduce outgoings, and will just struggle by until I go back to work in Feb. So you'll be glad to hear we've decided against the loan. Thanks to all for your comments (even if some were not really relevant).

tomhudson21

Gemsk85 wrote: »

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

Hi

If you're considering a loan over longer than until the next pay day and have poor credit, one of the companies I used in the past was

www.providentpersonalcredit.com/


They have slightly less sting interest wise and you can pay it off weekly rather than lump sums on a monthly basis.

DCFC79

tomhudson21 wrote: »

Hi

If you're considering a loan over longer than until the next pay day and have poor credit, one of the companies I used in the past was

www.providentpersonalcredit.com/


They have slightly less sting interest wise and you can pay it off weekly rather than lump sums on a monthly basis.

The loans are from £100 to £500 so not alot of use to hardly anyone