Personal Loan for rent before new job?

StraightEdgeMeg

Hi all,

Just have a little dilemma in my current situation I could use some help with. So I’ve been sober two and a half weeks, precipitated by being fired from two jobs and walking out of another due to a culmination of stress and degenerating mood (in hospitality). Because of this I’ve spent the last three weeks unemployed, but have just worked a week at a friends pub.

Because of this I’ve basically been living on nothing, with my last pay check of £160 coming in two weeks ago and already pretty depleated (on checking I have £2.40 in my two accounts combined), but there is hope - I’ve finally been accepted for a role which is offering me £26000 starting salary in a different field which I’m really energised for. On the same !!!! sandwich, my laptop (which is my main method of organising my life) has just broken its charging port which is going to cost at least £120 to fix so currently I really only have my phone tech wise which doesn’t make this period any easier.

The issue is that I’m going to need to try and get a personal loan to cover my rent at the end of the month (29th of January) which I’ll be able to pay back within 5/6 months. I’ve been assuming that my chances of a loan would be better with my signed official contract from my new company, as it confirms my earnings for the next year and I do have pretty low rent for my location and room size.

Is my assumption for a loan correct? And does anyone have any recommendations for where would be most receptive to my situation and offering me a loan over the next year? I was going to ask for £800-£1000 to be repaid over 12 months and then just make larger repayments to reduce the length of the loan when possible.

Any help or guidance would be fantastic, so thank you!

[Deleted User]

Until you've actually started the job, the chance of getting a loan are virtually zero. Even after a few weeks, it would still be very difficult.

Have a look at others ways of bridging the gap. Staying with friends, selling stuff, etc

Ben8282

my last pay check of £160
Your last pay check?

[Deleted User]

Can't you just register with the DWP aka the Jobcentre - there is an option to declare a future proposed work start date.

I've been offered a career change but won't be earning 21.5k for 42 hours weekly until way after realistically I've started the job as I'll even be beginning on reduced hours.

Even keeping up my continued job search as I have to (gone to temporary role interviews) to hear the jobs have a 6 week away start date - I've yet to meet a company who say's genuinely start tomorrow.

Getting a loan against a job you've no idea will definately work out (no matter how enthusiastic you may be) isn't the best plan. Sorry.

iolanthe07

Ben8282 wrote: »

my last pay check of £160
Your last pay check?

American spelling.

DCFC79

StraightEdgeMeg wrote: »

Hi all,

Just have a little dilemma in my current situation I could use some help with. So I’ve been sober two and a half weeks, precipitated by being fired from two jobs and walking out of another due to a culmination of stress and degenerating mood (in hospitality). Because of this I’ve spent the last three weeks unemployed, but have just worked a week at a friends pub.

Because of this I’ve basically been living on nothing, with my last pay check of £160 coming in two weeks ago and already pretty depleted (on checking I have £2.40 in my two accounts combined), but there is hope - I’ve finally been accepted for a role which is offering me £26000 starting salary in a different field which I’m really energised for. On the same !!!! sandwich, my laptop (which is my main method of organising my life) has just broken its charging port which is going to cost at least £120 to fix so currently I really only have my phone tech wise which doesn’t make this period any easier.

The issue is that I’m going to need to try and get a personal loan to cover my rent at the end of the month (29th of January) which I’ll be able to pay back within 5/6 months. I’ve been assuming that my chances of a loan would be better with my signed official contract from my new company, as it confirms my earnings for the next year and I do have pretty low rent for my location and room size.

Is my assumption for a loan correct? And does anyone have any recommendations for where would be most receptive to my situation and offering me a loan over the next year? I was going to ask for £800-£1000 to be repaid over 12 months and then just make larger repayments to reduce the length of the loan when possible.

Any help or guidance would be fantastic, so thank you!

There's no guarantee you will start the job or the employer has a job for you eg job could get pulled and your left with the loan of £800 - £1000.


What date does the new job start ?


Lenders want monthly payments to be made, how would you make these if not working or are you still planning on working at the pub ?

If that's the case then you don't need a loan.

Why not look for some other work or do extra shifts at the pub.

What about bank of mum/dad ?
Or failing that what about the suggestions below or a combination of 2 or all 3.

Sncjw

The loan company will want their payments to be made a month after getting the loan. If you can’t afford your rent how can you afford to pay back loan. They won’t wait 5 months.

Clive_Woody

Ask your new employer for an advance or maybe see if you can get an overdraft from your current bank (assuming your credit history is clear).