Pay Day Loans

DCFC79

wildingb wrote: »

They are sharks and scum, all of them. Do not do it.

They have a business model which works because the client base is huge. I admit there are those lenders who better than others.

Maybe in future if the MOT and tax are going to cause a problemwith needing to be paid at the same time then pay for 6 months car tax or even get a basic account and pay in an amount each month to cover the tax and mot.

I wouldnt wash pots in screen wash. There are options out there, you just need to have a look, eg foodbanks as suggested.

carol1963_2

£300 until 1/4/13. I have had to have the car MOT'd, but still need car tax, just for 6 months - I have to have a car to get to and from work because if I didn't I couldn't get to work.

Sorry to sound snotty but I can't bike to work - it would take me at least 21/2 hours, I work in an office and have to attend smartly and not smelling (no showers in work place) and I can't get a loan to get a bike anyhow. Tried that, been there and worn the T-shirt.

BitterAndTwisted

How much interest will that £300 cost you and can you afford the loss of the loan plus interest out your pay-cheque next month?

If the answer is "no, we won't be able to eat" then you can't afford to borrow it

DCFC79

Can you not get a lift with anyone who you know who goes past where you work or near as possible ?

joeblack066

So the question is, will you be able to afford the £400 out of next wages (it looks like it will be £96 interest).? Just trying to help.

[Deleted User]

How much do you need?

Have you thought of someone like Provident?

I know the interest rates are :eek: , but you are less likely to need to keep rolling them over, as you are paying them weekly, rather than in one go, and you can save a wad of interest, by overpaying and settling early.

ETA: I see you are looking for £300.

Provident would charge you £10-50pw, over a year, for that.

I know that's a lot, but it's easier than trying to raise the £400 in one go and, as I said, you can settle early and get some interest knocked off.

Bassibabes

Hi Carol,

I couldn't possibly read this and run. You sound so desperate, and I have been as desperate as you - most recently last week! I know how hard it is when there are bills to pay and no way out - just to get through the next week, let alone longer.

I haven't got a job so haven't been able to use Wonga, however I have used The Money Shop as they were the ONLY people who would lend me money to put food on the table. Not recommended at all, BUT my local branch are so helpful and they did allow me to pay to delay the full repayment back the first time I borrowed and allowed me to sort myself out. I have taken out several loans with them now and (apart from the first one) pay them all back on time. I get £150 and pay back £190 in 30 days time.

I have only gone to them when I am desperate and they have helped me when no-one else would.

If they are your only option, and it will help you sleep a little easier, then I would say do what you can to get through the next month. Talk to whoever you get the loan from about having the loan over a longer term and what the charges are for this, as this might give you a little more breathing space next month, albeit cost you more in the long wrong.

Seriously, I have been where you are (and still am, to some extent) and it's all very well someone giving you ideas, but I'm sure you've considered everything and this is the last option.

{{{hugs}}} to you and I hope that helps...

M xxx

Mikazaru

Have no advice on payday loans but have a look at the various car sharing websites, there's a fair few of them. Even if you can't find anyone who does the exact same route you may be able to find people who go fairly close.

How much is 6 months tax? Are you expecting any problems with the MOT?

astispumanti

Hiya Carol, I am no one at all to be giving advice, my life and finances are a mess.

I have 3 payday loans and between the 3 I have found Wonga the most helpful. The have allowed me in the past to pay my loan in 2 payments with no added interest.

I like the other would very very strongly advise not to go down the payday loan road but if you have decided to. I thought that bit of info might help.

I feel badly that I am urging you to go to Wonga, I repeat do not go unless you have no other option at all.

Good Luck

carol1963_2

I had to take one out all.

All gone in one hour paying back to people I owed.

I'm now being chased for payment for my MOT (I had to have it done just because I did, I know but...... still driving with no TAX though. Please don't think bad of me and theres no car share stuff or peole that live near me to ask.

I just don't know what to do - I've had a letter from the mortgage company today saying that I owe another £70 and my dog insurance is supposed to come out tomorrow (money I haven't got) and my dog has epilepsy so I'm well and truly stuffed.