Guidance Needed: temporary cashflow issue - can't get an overdraft

simoja

JuicyJesus wrote: »

Payday loans are a product like any other in that there is a need they can fulfil. If the urgency justifies the cost and other drawbacks, you can repay it in full without causing hardship and you haven't got any other means of getting cash, then they can fill a need - i.e. to provide cashflow.

They can be a positive thing for individuals so long as they are used as what they should be - lenders of last resort to be used in dire emergencies. Society not so much, although that's mainly due to them being hawked as easy ways to buy consumer tat/to fill a gap caused by overspending or used by people who forget that loans are not free money.

Lovely, but again, this thread isn't about payday loans

opinions4u

simoja wrote: »

Lovely, but again, this thread isn't about payday loans

No. It's about somebody who asked for suggestions around how to get cash short term.

If anyone has any suggestions I'd be most grateful.

Overdraft.
Credit card.
Personal loan.
Mortgage payment holiday.
Sell your toys on eBay.
Family.
Partner accessing credit (see top three on list)
Payday loan.
Loan shark with a knee cap fetish.
Sell a healthy organ.
Time machine, go back, open a savings account, actively save in it.

You don't have to like payday loans. I doubt many people who post here do. But it's one of a range of solutions to your problem. So I'd suggest you accept the discussion for what it is. A PDL is a potential solution. You don't have to be rude to people suggesting it or explaining it in good faith.

You might find a PDL costs less than a mortgage payment holiday if you compare repaying a PDL when due and stretching interest on a payment holiday for 20+ years.

MABLE

fabforty wrote: »

Wow, that was unnecessarily rude, even for a newbie.

The newbie is probably a Sun reader and does not know the ways yet!:rotfl:

innovate

Leave the guy in peace - he is under severe financial stress but he does not want to go anywhere near a payday loan because he despises them. Nothing wrong with that, is there. He has thanked people for their suggestions, and has told us he found a solution, one which will no doubt cost him a fraction of what a PDL would cost him. Why keep telling him PDLs are a solution for him? He knows they exist, and he doesn't want one. Good on him, I say!