Help and Advice

danielneedsmoney

Hello all,

I've landed myself in a sticky situation.

I'm a recent university graduate and have just secured a full-time job that I love in London. My salary is low, but manageable at £1250 p/m.

My problem is I currently have no money and soon nowhere to live.

I will not receive my first pay until the last week of October. I currently have a maxed out £1500 overdraft and £0 in the bank. I'm currently living in a hostel which I have paid until this coming weekend, but after that I will have nowhere to go. I have been living off their free breakfasts for the past week.

I have taken an Equifax credit report and have a poor 294 rating. I've never owned a credit card or anything similar before.

I really don't know how to even approach my troubles. Any help would be greatly appreciated.

National_Debtline

Hi Daniel,


If family and friends can't help you then try going to your local council and see what emergency funds they can offer. You may find there are some local charities or trust funds available, and hopefully your council should have the details. There may also be some local food banks you can go to.


Perhaps you can get some temporary work that will be paid weekly to get some money in sooner. Could your employer give you a small advance on your salary? I hope you get something sorted,


Laura
@natdebtline

DCFC79

Your credit score isn't seen by lenders.

Can I ask did this issue not crop up when you applied for the job ?

If it were me I would have been working in the meantime.

danielneedsmoney

Hi DCFC79,

Ok thanks. Do you think a loan is a good idea in my current situation, and what type of loan would I be looking for?

I was aware that I would struggle when I applied, however I felt lucky to get a graduate job at all whilst some of my friends struggle on.

I have been working part-time all throughout university. Unfortunately not earning enough to make any savings for times like this.

Thanks again

Mr.Generous

Your going to have to find a mate's sofa to sleep on, no roof over your head and your job will go up in smoke. Offer them payment for board and lodgings otherwise its a disaster. Good luck.