Tesco Foundation Card?

Locogooner

!!! wrote: »

You're clearly after a sum of money for something - so what is this?

So basically, I had engaged with a company for a creative service 6 weeks ago. The service costs £3000. They usually charge upfront but I said I can pay 6 weeks time. They went ahead and started work in good faith without payment. I was going to pay them with the funds earnt from a big job lined up (I'm a freelancer) but it fell through.

My mistake. Big mistake.

They now obviously want the entire fee now but I don't have the personal funds to cover it. I've sent them £500 of what I have just to stall them a bit. They know I'm struggling to pay so they even chopped off £500 from the £3000 so I only owe £2000 now.

I feel really bad about this but I literally don't have the funds until the next couple freelance gigs to cover it and they want the entire invoice cleared now.

In the long term, I'm not too worried about paying this off. It's just the right now and screwing over reputable people who nice enough to believe in my project and start working for free.

[Deleted User]

Getting a CC or a loan or overdraft is not the way to resolve this.

Unless you're paying it back in full upon statement date (in which case you would just pay the company directly), then you're going to get hammered with interest and further your debt more.

My advice - speak to the company and try to come to an amicable arrangement.

Locogooner

!!! wrote: »

Getting a CC or a loan or overdraft is not the way to resolve this.

Unless you're paying it back in full upon statement date (in which case you would just pay the company directly), then you're going to get hammered with interest and further your debt more.

My advice - speak to the company and try to come to an amicable arrangement.

Yeah I'm going call them on Monday to try an do so.

My thoughts with the CC / overdraft idea was because I'm going to be raising private funds / crowdfunding (£15k+) for the project the initial services were bought for, I could just pay back the fees in one go once I get the money.

But that is a bit of a gamble.

tastyhog

Locogooner wrote: »

yh so i got rejected for the foundation card as welll

obviously, no mainstream lender will be giving you a card if you can't get past their most basic of checks.

Locogooner

tastyhog wrote: »

obviously, no mainstream lender will be giving you a card if you can't get past their most basic of checks.

the electoral roll?

[Deleted User]

Check your credit files - theres more to this than just not being on the electoral roll

Locogooner

!!! wrote: »

Check your credit files - theres more to this than just not being on the electoral roll

Maybe the amount of searches then?

Locogooner

Going to push for a settlement fee.

A4445

I think not being on th ER is the main issue. Your searches are quite high that could put some lenders off or they may offer you a night APR than the standard, perhaps hold off on any more applications until your added to ER and some of your searches have aged.

[Deleted User]

I've recently been accepted for 4 credit cards without being on the electoral roll (Barclaycard Initial, HSBC, Capital One Classic, Aqua Start) so it may or may not be a factor. I have also opened a Tesco Foundation card in the past but they asked for ID after sending me the card, then closed the account when I didn't respond quickly enough.

Maybe because you're freelance your credit files do not show a regular monthly income? Banks report this although we can't see it when we view our files.