Best way to borrow whilst unemployed?

gb12345

Apples2 wrote: »

work.

This 'work' that you speak of - seems like a strange concept to me.

Surely there must be places that will pay you money regularly just to sit on your backside and watch Jezza Kyle while ignoring your 15 children.

jonesMUFCforever

........Troll alert..........

Clive_Woody

Apples2 wrote: »

You don't need a loan at all.

Employers hand out wads of cash every week and don't expect ANY of it to be repaid. All you have to do is a little work. Give it a whirl!

It'll never catch on, trust me. I tried it and now they expect me to keep coming back if I want more money.

forgotmyname

Like a carrot to a donkey this work malarky...

Then entice you in with the promise of ££££, Then no money for a week. Week in hand they say.
Then the next week your paid a fraction of the original figure, Taxes they tell you.

Getting to work costs more than you take home.

How do they expect that to catch on?

pb3

turtle88 wrote: »

Hi

I'm totally new to borrowing and am looking to borrow £1000,

A problem I have is that I'm currently unemployed and my credit rating isn't the best.

... Would love some advice as I'm a tad bamboozled by the various options out there.

Tbh given your situation, there aren't that many commercial options available to you. The only hope you have is a guarantor loan, where basically a friend or family member commits to repay the outstanding balance of the loan if you default.

See

http://www.simplyfinance.co.uk/articles/what-is-guarantor-loan.html
http://www.money.co.uk/loans/guarantor-loans.htm

I notice you have predictably fallen foul of the gang of marauding sharks that roam within the territorial waters of this board. The ringleaders appear to be Manchester United and Steve Jobs fans respectively

These sharks appear to be attracted to and driven into a feeding frenzy by the "digital blood" of posts by newbies seeking sympathy, help and support - in particular those containing the words payday loan.

Perversely, once they have fallen upon and ripped their hapless victim to shreds, these sharks leverage the "Thanks" feature of the board, to slap each other on the back and artficially inflate their stats. They then retire to await the next victim. A vicious cycle

antrobus

pb3 wrote: »

Tbh given your situation, there aren't that many commercial options available to you....

Which, funnily enough, is what the "marauding sharks" have already said.

pb3 wrote: »

...These sharks appear to be attracted to and driven into a feeding frenzy by the "digital blood" of posts by newbies seeking sympathy, help and support - in particular those containing the words payday loan.

But the original post doesn't contain the words "payday loan" or even 'payday loan' for that matter. One poster felt moved to post the comment "For goodness sake dont go to a payday lender either!" which, for a number of reasons, notably that the OP doesn't actually have a payday, might be regarded as 'good advice'.

Do you have a chip on your shoulder about something or other?

pb3

antrobus wrote: »

Which, funnily enough, is what the "marauding sharks" have already said.



But the original post doesn't contain the words "payday loan" or even 'payday loan' for that matter. One poster felt moved to post the comment "For goodness sake dont go to a payday lender either!" which, for a number of reasons, notably that the OP doesn't actually have a payday, might be regarded as 'good advice'.

Do you have a chip on your shoulder about something or other?

My reference to payday loans that you have quoted was not in reference to the OP's post (sorry that I didn't make that clear) but in reference to the frequent pattern of responses to past newbie posts on this board.

Chip on shoulder? Guess so - though I'm not directly affected. My rant was more towards the sometimes sarky, moralistic follow-ups to newbies, particularly those who have gotten into dificulty with payday loans. The advice given is useful, but the "attitude" is the last thing newbies need IMHO.

In some of these posts, the newbie never follows up. In some of these cases I can't say I blame them.

antrobus

pb3 wrote: »

My reference to payday loans that you have quoted was not in reference to the OP's post (sorry that I didn't make that clear) but in reference to the frequent pattern of responses to past newbie posts on this board.

If you have an issue regarding threads concerning payday loans, then you should be posting in Site Feedback, and not randomly selecting some poor sod's thread.

Apples2

Are you ready to stand guarantor pb3?

Thought not. Please explain how your advice is not the very worse advice in this entire thread?
This guy has no money, he has no income but you advise he find someone to take a very high APR loan out who will end up repaying the whole thing (op has no income to repay a loan you see!)

The last thing anyone wants is some self imposed moral crusader dishing out terrible advice .
Your advice would be great for the op, the guarantor however??? Awful advice, simply awful.

pb3

Apples2 wrote: »

Are you ready to stand guarantor pb3?

Thought not. Please explain how your advice is not the very worse advice in this entire thread?
This guy has no money, he has no income but you advise he find someone to take a very high APR loan out who will end up repaying the whole thing (op has no income to repay a loan you see!)

The last thing anyone wants is some self imposed moral crusader dishing out terrible advice .
Your advice would be great for the op, the guarantor however??? Awful advice, simply awful.

You are right - I wouldn't be prepared to be a guarantor to the OPs loan, or to any other loan for that matter!

The OP enquired wrt what commerical options were available for a loan given his circumstances.

My response - a guarator loan - answerred the OP's question in that it likely the only commercial loan he/she will be able to get.