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Receiving Money

Hi, I am getting a loan and want to know when I have to take the money? I don't want to get the money and start re-payments too early - is it possible for the company to agree the loan and then have the money and pay back at an agreed date in the future, probably 2 months later? Never had a loan before so not sure how it works. Thank you.

Comments

  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    I would speak to the lender.
  • Speak to the lender but I don't think you could do this. Once you sign the credit agreement and send it over to them they will usually send the funds to you within a few working days.
  • JReacher1
    JReacher1 Posts: 4,663 Forumite
    Part of the Furniture 1,000 Posts Name Dropper I've been Money Tipped!
    Many loan companies offer a no payment in the first 3 month deal. HSBC definitely do. Try and sign up for one of those deals
  • Nebulous2
    Nebulous2 Posts: 5,716 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    JReacher1 wrote: »
    Many loan companies offer a no payment in the first 3 month deal. HSBC definitely do. Try and sign up for one of those deals

    Why? Being charged 3 months interest whilst not making repayments may not be the smartest thing to do. I read it as the OP doesn't actually need the money for 2 months.
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