Short term funding needed.... advice.

JReacher1

Hsbc will allow you to not make any repayments for the first three months of the loan. You could borrow more than you need (to cover the three extra months of payments) and then pay the full balance off after six months.

The_Urbanite

If you want to borrow that kind of money and pay it all back at once in a few months, 0% credit cards are the best option IMO. It's a free loan as long as you remember to make the minimum payments.

kevshed

The_Urbanite wrote: »

If you want to borrow that kind of money and pay it all back at once in a few months, 0% credit cards are the best option IMO. It's a free loan as long as you remember to make the minimum payments.

Thanks - this was the conclusion i came too in the end... was actually surprised how easy it was, literally 2 mins online with very little information and boom, 20k approved with Virgin... no wonder people get into debt trouble if its this easy.. cost will be just a 2% fee, but interest free which meets my needs perfectly.

thanks everyone for their replies. !

enthusiasticsaver

kevshed wrote: »

Thanks - this was the conclusion i came too in the end... was actually surprised how easy it was, literally 2 mins online with very little information and boom, 20k approved with Virgin... no wonder people get into debt trouble if its this easy.. cost will be just a 2% fee, but interest free which meets my needs perfectly.

thanks everyone for their replies. !

For anyone who has a decent credit rating and a regular income it is relatively simple. Of course you still have to pay it off though. Do you have a plan to do that within the interest free period?

kevshed

enthusiasticsaver wrote: »

Do you have a plan to do that within the interest free period?

Yup - all covered thanks - i have significant income in Q1 every year that more than covers this and is very stable - thats why the whole point of the thread was more about cash flow than traditional debt.

Thanks everyone.

Shakin_Steve

I know a few people who earn over six figures. Unfortunately (or not), it's not equally divided into 12 monthly paydays, so they are cash rich at some points in the year and have to make sure that they keep enough for the lean months.
Sounds like the OP may be in a similar position.

redpete

kevshed wrote: »

Thanks - this was the conclusion i came too in the end... was actually surprised how easy it was, literally 2 mins online with very little information and boom, 20k approved with Virgin... no wonder people get into debt trouble if its this easy.. cost will be just a 2% fee, but interest free which meets my needs perfectly.

thanks everyone for their replies. !

Your original requirement was no monthly payments. Do you realise that you will have to make the minimum monthly payments on the credit card? I believe 1% of the balance with Virgin.

kevshed

redpete wrote: »

Your original requirement was no monthly payments. Do you realise that you will have to make the minimum monthly payments on the credit card? I believe 1% of the balance with Virgin.

Thx - Yup, i understand. I can support this as a necessary evil - no worries.