Payday loans

27col

If you have enough spare cash to service a pay day loan, then why have you not been putting some money away each week or month. Thus building up an emergency reserve of cash to use when something like a new DPF is required.

yoshiyella

gb12345 wrote: »

The fact that you are having to use a PDL for an emergency shows that you are living on the edge financially, with no ability to build a savings buffer - so as far as a mortgage lender is concerned you are still a higher risk than someone who has sufficient savings to cover little emergencies.

A bit of a sweeping statement but hey! I do actually save and normally this would not have been an issue but with £60,000 going out on my mortgage deposit (25%), and the usual several thousand going on legal fees, surveys, searches etc as well as paying a mortgage and rent at the same time along with 2 extra months deposit (thanks to some silly cow claiming she was chain free and she wasn't), storage fees, van hire and all the little things involved in moving house as well as paying for the car to be serviced unfortunately last month I was unable to last the month without that PDL.

However, as with all credit agreements it is about ability to pay back and as said and is only my opinion hence why I gave it was that if never missing a rent payment would suggest not missing a mortgage payment.

yoshiyella

27col wrote: »

If you have enough spare cash to service a pay day loan, then why have you not been putting some money away each week or month. Thus building up an emergency reserve of cash to use when something like a new DPF is required.

See above for your judgemental comment! This is nothing to do with judging people and the choices they make.

Apologies for everyone not being as perfect as you!

gb12345

yoshiyella wrote: »

A bit of a sweeping statement but hey!

It may be, but that is how a lender's decision making system will be programmed to rate an applicant - you will have very little opportunity to give your reason for needing a pay day loan

27col

yoshiyella wrote: »

See above for your judgemental comment! This is nothing to do with judging people and the choices they make.

Apologies for everyone not being as perfect as you!

I don't think that I was being particularly judgemental, just stating the obvious conclusion that one might form from reading your original post. Which, incidentally, never mentioned any of the expenses that you have subsequently used to justify your use of a PDL.
I may not be perfect, and I certainly am not wealthy, but I could never visualise any financial circumstance that would require me to take out a PDL.
But, hey, it's your life and your money to do with as you want.

Dovah_diva

yoshiyella wrote: »

See above for your judgemental comment! This is nothing to do with judging people and the choices they make.

Apologies for everyone not being as perfect as you!

You are over reacting and taking perfectly reasonable comments personally. Fact is, they are are right. A lender will judge you harshly for using pay day loan companies. They're not going to listen to perfectly reasonable [STRIKE]excuses[/STRIKE] explanations