Tide u over want first instalment before releasing ££££
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They have asked for the first payment upfront?? The loan will be issued 30mins after receipt..... is this legit? Anyone else had a longer term loan from this place?
It's a 5k loan over 60 months and not a payday loan. I will be paying less a month than I'm paying now on the debt I want to clear with this loan.
I won't get a loan from most places due to poor credit score but this will free up some disposable income and pay off some debt.
Cheers
It's a 5k loan over 60 months and not a payday loan. I will be paying less a month than I'm paying now on the debt I want to clear with this loan.
I won't get a loan from most places due to poor credit score but this will free up some disposable income and pay off some debt.
Cheers
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Comments
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No - it's never legit.
Lenders give you money - not the other way round. At best, they're a broker, at worst, you can kiss goodbye to your cash.
Go to the DFW boards for advice on clearing your loan more quickly.0 -
Tide U Over are a payday loan lender. What APR are they offering you?
Debt consolidation is rarely the answer. Please speak to one of the debt management charities before committing to further debt, especially given your history.0 -
Should of read the Q&A's :
Q: Are you a direct lender or a broker?
Ans: We are a broker. Tide U Over is an established company who is able to introduce you to payday loan providers. There are a number of Payday Loans Direct Lenders such as Wonga and Quickquid, but Tide U Over's service allows your details and current situation to be matched with a wider selection of direct lenders so you may have a better chance of finding a loan to suit your needs. We do not charge any fees and the lenders you will be matched with all have the appropriate authorisation/permission with the FCA.
The "upfront payment" seems suspicious when they say they "don't charge a fee".I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
They have asked for the first payment upfront?? The loan will be issued 30mins after receipt..... is this legit? Anyone else had a longer term loan from this place?
It's a 5k loan over 60 months and not a payday loan. I will be paying less a month than I'm paying now on the debt I want to clear with this loan.
I won't get a loan from most places due to poor credit score but this will free up some disposable income and pay off some debt.
Cheers
So £5k over 5 years, paying that amount over 5 years is ......... ( add whichever word you like ), whats the apr then ?
Its not due to your poor credit score, your credit history/poor financial management.
Stay clear of them.
Dont use money so someone can find you a loan, isnt a wise decision.
The first payment fee should be giving you a warning sign.
You need to reduce your outgoings or increase your income, I'd go over to dfw board as been suggested.0 -
As others have stated, run a mile.
You'll pay this "fee", and likely not get a loan anyway. Or worse be tied into something like 50%+ APR. I think the latter is worse. Get to the DFW boards ASAP.
In debt and looking for help? Look here for the MSE Debt Help Guide.
Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.0 -
With one or two rare exceptions, legitimate brokers do not charge an upfront fee. They get their commission from the lender, not you. I would run a mile from this. And it is a (disguised) payday loan.I used to think that good grammar is important, but now I know that good wine is importanter.0
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On the Tide U Over website, the largest loan they provide is £2500 over 18 months.
It quite clearly states they are a Payday Loan Broker.
Maybe I'm on the wrong site to the one the OP is using, but what they say in their OP doesn't match what I'm reading on the website.0 -
If you continued to pay the current loan, how long would it take to clear it?0
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I know it's barely been 24 hours since the original post but is it just me who is praying that the OP reads these comments before accepting the loan deal?Savings as of April 2023 Savings account - £26460.50(14474.88)Current account - £2140.24(4576.79)Total - £28600.74(19051.67) £1010 (£65pm CS/BS) £250 CS/BS/JS0
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zippygeorgeandben wrote: »I know it's barely been 24 hours since the original post but is it just me who is praying that the OP reads these comments before accepting the loan deal?
I'm worried that they're either not going to come back after paying this fee, or worse, paying the fee, getting either an extortionate APR or outright being rejected and coming back asking for help.
I really hope they get on the DFW board and read up on free ways to get help, rather than continuing the debt spiral they're in.
In debt and looking for help? Look here for the MSE Debt Help Guide.
Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.0
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