We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

When to apply for a loan after a period without a job ?

Hi


After a period without work, I have run up an overdraft, which I would like to move into a loan.


In terms of credit availability, am I better off getting a loan now ( I start my new job on Monday ), or waiting a couple of months to get some regular payments back into my account ?


Many thanks


Dodgy_Paella

Comments

  • Gaz83
    Gaz83 Posts: 4,047 Forumite
    1,000 Posts Combo Breaker
    No mainstream lender will consider you for a loan without a regular income. You'll need to wait a few months, at least three probably.
    "Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.6K Banking & Borrowing
  • 252.3K Reduce Debt & Boost Income
  • 452.5K Spending & Discounts
  • 241.3K Work, Benefits & Business
  • 617.8K Mortgages, Homes & Bills
  • 175.8K Life & Family
  • 254.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.