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In need of a loan but unemployed until Sept 2020
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I am a teacher but have been travelling for the past 9 months. Current climate resulted in me coming home with some debt.
I have a new job lined up, however, I am not officially employed or have an income until Septemeber.
Can I get away with saying on the loan application that I am employed as I could do with paying of my overdraft and credit card!
Thoughts please,
Thanks
I have a new job lined up, however, I am not officially employed or have an income until Septemeber.
Can I get away with saying on the loan application that I am employed as I could do with paying of my overdraft and credit card!
Thoughts please,
Thanks
0
Comments
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No. That would be a fraudulent application which would have a much greater impact on you than simply not getting the loan.3
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Consolidation is rarely cheap or a good idea either. Getting more debt doesn't help improve your current debt, as unfortunately you are not 'paying off' anything. Simply moving it around and freeing up your existing lines of credit, which runs the risk of increasing your debt, not decreasing it.
Go over your spending, cut your costs as much as possible and pay the debts smallest to largest as fast as possible.2 -
Prepare your SoA (statement of affairs) and review for opportunities to reduce costs. If nothing good comes to you, then share the SoA in the DFW forum.
You only need to get through a relatively short time period before you will have a regular (and secure) income and can use that to get things restructured and back into the type of order you would like.0 -
nyoung11 said:I am a teacher but have been travelling for the past 9 months. Current climate resulted in me coming home with some debt.
I have a new job lined up, however, I am not officially employed or have an income until Septemeber.
Can I get away with saying on the loan application that I am employed as I could do with paying of my overdraft and credit card!
Thoughts please,
ThanksHere's a question, how would you meet the loan payment for June, July and August ?2 -
DCFC79 saidHere's a question, how would you meet the loan payment for June, July and August ?1
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Instead of a loan, can the OP get an interest-free credit card to see them to the first pay-check and then clear that card down quickly. Live like a hobbit to clear the debts.0
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nyoung11 said:I am a teacher but have been travelling for the past 9 months. Current climate resulted in me coming home with some debt.
I have a new job lined up, however, I am not officially employed or have an income until Septemeber.
Can I get away with saying on the loan application that I am employed as I could do with paying of my overdraft and credit card!
Thoughts please,
Thanks
Don't commit fraud. Pay what you can towards your debt and apply without lying when you're back in work.0 -
And a fraud marker might not do your teaching career a whole lot of good either...No free lunch, and no free laptop0
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TadleyBaggie said:DCFC79 saidHere's a question, how would you meet the loan payment for June, July and August ?
Yes September too.
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My thoughts are to go to employment agencies doing factory, production and warehouse distribution work and sign up for one of those to cover you until September. Also farmers have been complaining about not being able to get staff for harvesting so there's an opportunity to look at.
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