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Completely desperate - payday loan time?

23 replies 1.9K views
HettieJHettieJ Forumite
6 posts
First Post
MoneySaving Newbie
Hi there, I will try to keep this as short as I can. Apologies for creating the account just to post this but I am at a complete loss.

With everything that has happened I have found myself in an unplanned overdraft which I am now getting charged for but cannot pay it back. I cannot afford to buy any food, I cannot find a job and have been laid off. I am also not eligible for the 80% as I was signed off work sick and they left the job "open" as a kind gesture... but I was the first to be sacked, before the 80% was announced.
I feel my only real option is to take out a payday loan but I have never done this before and it terrifies me. I owe my friend £100, she is not rushing me to give it back but she is also now without work (we work in hospitality). 
I'm sitting in tears and feel so stuck. I have struggled a lot with my mental health recently and have also been dealing with a loss in the family. 
I'm only 22 and my family are not in a position to help me (I no longer live with my parents).

Is there any "sensible" way to handle a payday loan? 
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Replies

  • MisslayedMisslayed Forumite, Board Guide
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    Most of the big supermarkets are hiring at mo. Search Facebook for a local support group, ours is amazing. Seek out your local food bank, they may have other contacts that can help you. I do hope you find some help 
    Hi. Martin has asked me to tell you I'm a Board Guide on the Competitions, Site Feedback and Campaigns boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to [email protected] (it's not part of my role to deal with abuse). Any views are mine and not the official line of MoneySavingExpert.com.
  • HettieJHettieJ Forumite
    6 posts
    First Post
    MoneySaving Newbie
    Thank you both for your replies. What can I say to my bank? 
    I have applied to several supermarkets but with the demand have not heard anything back yet. I am happy to volunteer as I feel I am going insane staying in the house, however it doesn't solve money of course ☹
  • edited 21 March at 5:09PM
    Willing2LearnWilling2Learn Forumite
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    edited 21 March at 5:09PM
    HettieJ said:
    I feel my only real option is to take out a payday loan but I have never done this before and it terrifies me. I owe my friend £100, she is not rushing me to give it back but she is also now without work (we work in hospitality). 
    I'm sitting in tears and feel so stuck. I have struggled a lot with my mental health recently and have also been dealing with a loss in the family. 
    I'm only 22 and my family are not in a position to help me (I no longer live with my parents).

    Is there any "sensible" way to handle a payday loan? 
    Hi HettieJ and welcome to the forum  :)

    How many weeks or months would it take you to repay the PDL?  You do understand that some PDL companies charge over 1,000% APR?
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • HettieJHettieJ Forumite
    6 posts
    First Post
    MoneySaving Newbie
    HettieJ said:
    I feel my only real option is to take out a payday loan but I have never done this before and it terrifies me. I owe my friend £100, she is not rushing me to give it back but she is also now without work (we work in hospitality). 
    I'm sitting in tears and feel so stuck. I have struggled a lot with my mental health recently and have also been dealing with a loss in the family. 
    I'm only 22 and my family are not in a position to help me (I no longer live with my parents).

    Is there any "sensible" way to handle a payday loan? 
    Hi HettieJ and welcome to the forum  :)

    How many weeks or months would it take you to repay the PDL?  You do understand that some PDL companies charge over 1,000% APR?
    Hiya, thank you x
    Yeah I know which is why it terrifies me. I don't have enough money to even cover feeding my pets etc which is why I feel I have no other option 😣

    Right now I have no idea when I will next have an income, I am spending everyday looking / applying for everything but have obviously had interviews cancelled and job adverts removed completely. 
    I am going a bit insane here, was going to take a thousand out and use over half to pay it back each month which will probably not work!
  • John_John_ Forumite
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    HettieJ said:
    Thank you both for your replies. What can I say to my bank? 
    I have applied to several supermarkets but with the demand have not heard anything back yet. I am happy to volunteer as I feel I am going insane staying in the house, however it doesn't solve money of course ☹
    Head out now, go to your local supermarkets, sensibly dressed and with suitable ID, and ask the manager if they have any work that you can do.


  • edited 21 March at 5:24PM
    sourcratessourcrates Forumite, Board Guide
    20.2K posts
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    edited 21 March at 5:24PM
    You cannot take out a loan, you have no income, its a seriously bad idea, which will just make your life 10 times worse.
    Coop/Tesco/Lidl/Morrison's are all currently recruiting staff, some only on a temporary basis, granted, but i know for a fact, a lot of them are relaxing the normal entry requirements, as they just need bodies to fill the shelves, get yourself to your local store and ask for the duty manager, they are not advertising these temp jobs online, you have to ask in-store.

    Its at the very least, a 12 week temporary contract.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    [email protected].
    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • Willing2LearnWilling2Learn Forumite
    6.3K posts
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
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    And you should also be making an online application for UC. This is because you could also apply for an advance on your UC.  If you need help to pay your bills or cover other costs while you wait for your first Universal Credit payment, then an advance would be a viable solution.  At the same time, you can apply at the supermarkets for temporary work.  
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • HettieJHettieJ Forumite
    6 posts
    First Post
    MoneySaving Newbie
    I have already applied to Tesco, Morrisons and Aldis by going in. They did advise me they have hundreds of names already - Aldis said they may give me a call back but it did not seem very positive. I will get ready now and try my nearest Asda. I don't want to seem as though I am not trying as I am - desperately - but of course there are countless numbers of people in the same position.
  • SweetPotatoPieSweetPotatoPie Forumite
    137 posts
    100 Posts First Anniversary
    Whereabouts in the country are you? There are lots of Facebook groups at the moment helping out with food etc..... please don’t take any loan out. Have you got any family or friends who could possibly get you a bit of shopping? Apply online now for Universal Credit, they do advanced payments as well whilst you are waiting x 
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