~£10,000 Loan

kierangiles

Hello,

My name is Kieran, I'm looking to borrow around £10,000 for a long period of time. I've been to every high street bank and been declined. I'm in full time employment with an investments company and I can afford the repayments.

My contract is rolling (can't provide permanent contract), my credit score is near non existent because I'm only 21 and just finished university.

Basically I wanna go out to Canada and do a snowboard instructing course, then move out there next season to start my career in snowsports. The courses to do this cost a lot of money and I'd need a buffer outside of that to cover the costs of something like a broken snowboard.

I have until January to make a little bit of money and then I'll continue working for my investments firm after March to continue making large repayments on the loan.

I can't find ANYONE that will let me borrow that amount of money and my family all have godawful credit histories because they're all terrible with money.

I don't really want to waste 2 years of my life saving for something doing what I hate when I could be starting my new career doing what I love...

Anyone got any advice for me? I'd literally do anything right now.

imoneyop

Start saving - there's no way you're going to get a loan with no credit history (particularly as you appear to be wanting to use it to leave the country).

BugsyBrowne

Would you lend a 21 year old snow dude 10k with no history of managing debts.

Apples2

kierangiles wrote: »

Basically I wanna go out to Canada .

Why not just do that bit and get a job whilst you are there?

kierangiles

Apples2 wrote: »

Why not just do that bit and get a job whilst you are there?

Need a visa.

To be honest, I know I can pay that loan back, they know I can pay the loan back. The only reason that I can't get a loan is because lending criteria right now is so strict. Banks don't want to take any risks any more because of the financial situation in the country.

I'm just frustrated that the only way I can possibly get out and do what I want to do for the rest of my life is to sit and do something I hate for a year or two.

I'd rather kill myself than sit working in an office for the next 2 years. No offence to anyone here that does do work like that, but I really am set on the snowboarding career path. I did my degree to be sensible and it's just been a massive waste of time and money.

I hate how much stick people put on getting 'qualifications'. Having been to university I can say that it's a heap of !!!! and not worth half a year working in the university of 'life'.

imoneyop

kierangiles wrote: »

they know I can pay the loan back.

No they don't as you have no history of dealing with credit / so you are seen as a high risk.

kierangiles wrote: »

The only reason that I can't get a loan is because lending criteria right now is so strict. Banks don't want to take any risks any more because of the financial situation in the country.

The financial situation was partially caused by banks lending money to people who couldn't afford to pay it back. So now, you have to prove to them that you will be likely to pay them back for the term of the loan.

It would appear that "every high street bank" doesn't believe you will pay them back.

DCFC79

kierangiles wrote: »

Hello,

My name is Kieran, I'm looking to borrow around £10,000 for a long period of time. I've been to every high street bank and been declined. I'm in full time employment with an investments company and I can afford the repayments.

My contract is rolling (can't provide permanent contract), my credit score is near non existent because I'm only 21 and just finished university.

Basically I wanna go out to Canada and do a snowboard instructing course, then move out there next season to start my career in snowsports. The courses to do this cost a lot of money and I'd need a buffer outside of that to cover the costs of something like a broken snowboard.

I have until January to make a little bit of money and then I'll continue working for my investments firm after March to continue making large repayments on the loan.

I can't find ANYONE that will let me borrow that amount of money and my family all have godawful credit histories because they're all terrible with money.

I don't really want to waste 2 years of my life saving for something doing what I hate when I could be starting my new career doing what I love...

Anyone got any advice for me? I'd literally do anything right now.

3 bits in bold are really important as well as the fact you say you went to every high street bank (may have made you look desperate), you need to understand that you wont/cant get the 10k loan due to them 3 factors.

Your going to have to either stick your job out or come up with another solution.

You have to prove to lenders that you are sensible with money, can repay it back on time etc etc.

meer53

OP, time to face facts. I'd agree with other posters, get a job in Canada, save up and follow your dream. You're not going to get a loan for 10k. Work hard, save hard is my advice.

kierangiles

I don't care about the loan itself, I just need a route to become a certified snowboard instructor and then get flights out to Canada. Unfortunately that costs money, I've looked into Career Development Loans but they're only certain courses that the SFA 'approves'.

I just see no route to do what I want to do with my life and I have 50 years ahead of me. Its depressing as hell.

meer53

kierangiles wrote: »

I don't care about the loan itself, I just need a route to become a certified snowboard instructor and then get flights out to Canada. Unfortunately that costs money, I've looked into Career Development Loans but they're only certain courses that the SFA 'approves'.

I just see no route to do what I want to do with my life and I have 50 years ahead of me. Its depressing as hell.

You're 21 ! You can have what you want, but you can't have it right now. You sound like my 13 year old.

Why Canada ? Why not Scotland or somewhere in Europe ?

DCFC79

kierangiles wrote: »

I don't care about the loan itself, I just need a route to become a certified snowboard instructor and then get flights out to Canada. Unfortunately that costs money, I've looked into Career Development Loans but they're only certain courses that the SFA 'approves'.

I just see no route to do what I want to do with my life and I have 50 years ahead of me. Its depressing as hell.

You save up for it, take a second job, ebay stuff, do online surveys to reach the goal. If its the career you want to do out there then you will do what you can to achieve it, if you dont then ill take your spot and live a good life over there.

As Meer53 says theres other areas where you can snowboard in europe and I Bet they are cheaper too.