Need to borrow £750 but don't start new job for a week?

Skint_one

I need to borrow about £750 to see me through until the end of December. The problem is I have been unemployed since the end of August and don't start my new job until 12th November.

I have an overdraft of £1000 (at the maximum) and the bank wont help me any further obviously because I am currently still unemployed.

My credit history isn't great as I finished paying off an IVA April 2010 (long story - my ex partner brought in loads of debt which I took on and had to do an IVA eventually).

I'm owed £6000 by my previous employer (June, July August) for non payment of wages which I went to an Employment Tribuneral, then ACAS (which an agreement was signed for him to pay 2k per month for 3 months but he failed to pay) and now it's gone to the High Court Enforcement Officer which has chased him up and he has now agreed to pay £1000 per month to them, which they will pay me £750 per month until the debt is cleared (they take 35% from him).

I obviously can't count on the money owed to me but I really need that extra cash to see me through.

My new salary will be 35k per annum.

Can anyone advise please?

opinions4u

Patience and austerity will be the best approach.

Rather than spending what you don't currently have.

Skint_one

I hear what your saying opinions4u and i've had to cut back because of the £71 JSA but there are a few bills I need to catch up on and I can't live on thin air until pay day.

It's unfortunate that I was mugged off in the first place by my ex Boss. I was getting myself finally sorted until that happened!!

opinions4u

eBay sales?

The problem is, you're likely to be heading in to PDL land if you pursue a borrowing approach. Would Bank of Mum and Dad be an option?

Voyager2002

I would go back to the bank: make sure that they see the offer letter and contract for your new job, as well as the paperwork about the regular payments coming in from ex-boss.

On your first day at work, go and see HR and explain that you will have trouble managing until the first pay-day and ask about a salary advance. Many employers can be helpful in this situation.

As an aside, I am shocked that you are the one paying for the cost of collecting your unpaid wages. Under normal circumstances the costs of things like bailiffs are added to the amount owing, so I'm not sure what is going on. Anyway, it is grossly unfair and I suggest you let your MP know about it.

Congratulations on getting a new job and generally turning round a very difficult situation.

Skint_one

Haven't really got anything to sell on ebay, although i did try to sell some Wade Bisto Kids Salt & Pepper pots which my recently deceased Mum had. My stepdad is 81 and can't afford anything as he's just moved in to a secured old folks home which is quite costly and he doesn't get a huge pension. Thought i'd ask anyway, cheers.

Skint_one

Hi Voyager,
Re the unpaid wages, I will still get the full amount (depending on him paying the HCEO) but it will take longer as they take their 35% out each month. I guess that's how they work and at least it's making him squirm a bit now the debt collectors are on his case and the longer he leaves non payment the more interest he incures!!

Because of that though i've gotten so behind on rent, utilities etc...

redkev76

opinions4u wrote: »

Patience and austerity will be the best approach.

Rather than spending what you don't currently have.

With respect, posts like this are completely pointless given the question asked by the OP. Wait and don't spend anything in the meantime. Thanks, thats just what they were asking for. Pointless :mad:

opinions4u

redkev76 wrote: »

With respect, posts like this are completely pointless given the question asked by the OP. Wait and don't spend anything in the meantime. Thanks, thats just what they were asking for. Pointless :mad:

So the OP should be pointed in the direction of a PDL company or loan shark?

It's an unpleasant situation that the OP is in. Testing an individual's ability to cut back dramatically can often find a preferable alternative.

Challenging the need to borrow is better than encouraging people to get in to expensive forms of debt.

It's possible that the door to door angels of Provident may be a solution here. But is that really the first option to throw in the air?

redkev76

My point was that considering the OP has ended up in this situation through no fault of their own and is about to start a well paid job, the assumption would be that they are a decent person and not completely stupid.

Therefore the assumption would also be that the idea of not spending any money had obviously been considered and dismissed for whatever reason before asking the question rendering your answer irrelevant and frivolous.

Anyway, I have no desire to fall out with anyone and we all have our reasons for posting so have a good day :beer:

BugsyBrowne

redkev76 wrote: »

My point was that considering the OP has ended up in this situation through no fault of their own and is about to start a well paid job, the assumption would be that they are a decent person and not completely stupid.

Therefore the assumption would also be that the idea of not spending any money had obviously been considered and dismissed for whatever reason before asking the question rendering your answer irrelevant and frivolous.

Anyway, I have no desire to fall out with anyone and we all have our reasons for posting so have a good day :beer:

Myself included try not to mention PDL's as a last resort as hundreds as we know take advantage of these which then gets way out of control then 6 months down the line they're back on here saying they should've listened.