mission impossible?

alalalalalalalalalalalala

hi, i'm trying to get a small loan (1500-2000), i'm unemployed and not enough credit score cause been living in uk for less than 2 years.
i have a growth bond of 20k that can be cashed out next november, but i need some cash now, any help?
thanks

[Deleted User]

No, not without an income.

DCFC79

alalalalalalalalalalalala wrote: »

hi, i'm trying to get a small loan (1500-2000), i'm unemployed and not enough credit score cause been living in uk for less than 2 years.
i have a growth bond of 20k that can be cashed out next november, but i need some cash now, any help?
thanks

Why do you want the money ?

Get a job to save what you need.

foxy-stoat

Wait till November....you could take out a Payday loan and keep repaying them with other Payday loans if you need the £2000 that badly....by the time your £20,000 comes out the total you owe will be about that!

Nebulous2

Is there no way to release the bond early, with a penalty?

Signing up to such a restrictive contract can turn out badly if your circumstances change, as you have found to your cost. A loan is unlikely and if you do find one the cost of it is likely to be very high.

Dobbibill

alalalalalalalalalalalala wrote: »

hi, i'm trying to get a small loan (1500-2000), i'm unemployed and not enough credit score cause been living in uk for less than 2 years.

Unsecured lending is based, among other things, on your ability to pay. Whilst unemployed, you don't have any disposable income, therefore it's unlikely you will get a loan.

Ignore your credit score, you need a job to have any disposable income for lending.

i have a growth bond of 20k that can be cashed out next november, but i need some cash now, any help?

It may be worth withdrawing the bond early, if the reason for the lending is that urgent then take the hit on any losses through fees. This will possibly be cheaper than the rate you would get on a loan anyway, given the circumstances.

If it's not urgent enough to need to withdraw the bond, then it's not urgent enough to need a loan.

glennstar

foxy-stoat wrote: »

Wait till November....you could take out a Payday loan and keep repaying them with other Payday loans if you need the £2000 that badly....by the time your £20,000 comes out the total you owe will be about that!

This is terrible advice!

Caz3121

glennstar wrote: »

This is terrible advice!

why is telling the OP to wait until November bad advice?
the example given is to demonstrate what the impact could be should they decide they cannot wait and go down the payday loan route...as in - here is why you should wait and not borrow

glennstar

Caz3121 wrote: »

why is telling the OP to wait until November bad advice?
the example given is to demonstrate what the impact could be should they decide they cannot wait and go down the payday loan route...as in - here is why you should wait and not borrow

First of all, you have presented an alternative (i.e. get a loan from a PDL) which is not realistic for the following reasons;

1. Thin file will not get a payday loan,
2. There are no payday lenders that will loan £2k under any circumstances, never mind as a first loan,
3. If the OP is "lucky" enough to get one payday loan they will not get another so will be saddled with a product they can ill afford and without means of rotating it... this isn't a discussion about free balance transfers on credit cards.

By presenting a bad option as an alternative you have opened the door to a scenario that is unrealistic - which is unwise when dealing with a situation which involves elevated levels of stress. Attempting to recover the situation by suggesting that the OP will owe £20k to these fictitious payday lenders (who wouldn't lend given the above) is also factually incorrect.

Hence my original statement saying "terrible advice" is valid in my view.

Caz3121

glennstar wrote: »

First of all, you have presented an alternative (i.e. get a loan from a PDL)

It was not my post, I just assumed you had read Foxy's post wrong...the advice was "wait till November" with a why payday loans (whether possible or not) are terrible not as alternate option to waiting......my response was more around "waiting till November" not being "terrible advice"
all a bit irrelevant though...looks like another single poster that posts a question and then never comes back

glennstar

Caz3121 wrote: »

looks like another single poster that posts a question and then never comes back

I think you make a very valid point. Is there an issue with the site/forum that so many people arrive and then don't post again. Are they not getting notified or similar?