Short Term loan

element555

Hi all,

Please can you advise me what is best way to get about £500-£700 quickly for about 3 weeks.
I don't have any income at the moment due to a lot of exams (I'm a student at collage). I'm starting a new job from monday and I will get paid in few weeks time, but right now I really need money for living.

I tried to apply for an overdraft in my bank however I got declined because I'm not studying in university.

Is there any way I could get a short term loan anywhere ?

[Deleted User]

Sorry but the answer will be no, you have no income which is the first thing a lender will look for, can't a member of your family lend you the £ ?

[Deleted User]

Do you know exactly when payday falls? That is going to be the major issue why you shouldn't. You have no guarantees if you haven't even started.

It's a bad idea. (Yes I know they do sound plausible that is until you have a problem)

I didn't even commit fraud with having a payday on the 30th 3 dates of 4 payslips under an employer, received no help when the month came with a 31st - the lender simply chose to say it was my problem, I can't imagine what they would be like with someone who takes a loan with even less guarantee. Sorry.

Honestly either talk to the new employer about a sub/advance, sell/pawn items or speak to family. Or be TRIPLE sure you will not need to have any changes.

System

Pawn something. Laptop, games console, jewellery.

element555

That's a good idea, do you know where I could borrow money by pawning my motorcycle or something like that?

DCFC79

Sell the bike.

Why did you budget for this amount ?

Can your parents not help ?

Why is it you need the money ?

element555

Unfortunately I cannot sell the bike because I'm using it to get to collage. I could borrow from parents however it wouldn't be enough to be honest, they have their own problems. So I guess I will need to find another way....

Pixie5740

Is there a finance officer at the college? Sometimes there are grants and loans available for students facing financial hardship.

zippygeorgeandben

Parents are more resilient than you think. It wouldn't hurt to ask the question in a calm and polite way.

BrassicWoman

It also wouldn't hurt to get the bus to college

EssexHebridean

element555 wrote: »

Unfortunately I cannot sell the bike because I'm using it to get to collage. I could borrow from parents however it wouldn't be enough to be honest, they have their own problems. So I guess I will need to find another way....

So how were you intending to get to college if you'd pawned the bike?

I'd suggest doing a proper budget for your next few weeks and see what the bare minimum you can get away with to live on it - and I mean "live" - not go out, socialise, get drunk, and buy takeaways. Once you have that figure - work out how quickly you will be able to repay this when your pay kicks in, and then go to your parents with a polite request allied with a solid plan for repayment. While you are paying them back you need to be prepared to go without the fun stuff though - repaying the money must be your priority.

Once they are paid back, stick an amount every month aside into an "emergency fund" account in case you find yourself in a similar position in the future.