Financially responsible, but I need £750 quick! Advice?

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  • K80_Black
    K80_Black Posts: 466 Forumite
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    eskbanker wrote: »
    Not convinced that should be stated as fact - https://www.moneysavingexpert.com/loans/payday-loans/#needtoknow-8 says:I could be wrong but suspect that using one specifically to bridge between two jobs would be relatively easily explained several years down the line....


    The very thing you linked listed 2 mortgage lenders who won't touch you with a barge pole if you've ever had a payday loan. Other lenders will behave differently, but none of them are going to look upon it favorably. While it's easy to explain, these days we live in a 'computer says no' society, where you never even get the chance to talk to your bank manager and tell your sob story.



    and I never stated it as fact, it's my opinion.
  • eskbanker
    eskbanker Posts: 31,451 Forumite
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    K80_Black wrote: »
    The very thing you linked listed 2 mortgage lenders who won't touch you with a barge pole if you've ever had a payday loan. Other lenders will behave differently, but none of them are going to look upon it favorably.
    Yes, I obviously saw the reference to those two niche lenders when quoting that piece, but while I agree that nobody will look on PDLs favorably, that's not to say that everyone will look on them unfavorably "for a good few years" either, as per the Charcol quote, i.e. it's quite possible for the impact to be neutral, especially as time passes.
    K80_Black wrote: »
    While it's easy to explain, these days we live in a 'computer says no' society, where you never even get the chance to talk to your bank manager and tell your sob story.
    Again, I wouldn't disagree that automated decisions are the norm, but not necessarily as the final word on the subject, especially when dealing with specialist mortgage brokers.
    K80_Black wrote: »
    and I never stated it as fact, it's my opinion.
    If you look again at your wording that I quoted, there's nothing there that signifies it as opinion, it's phrased as if it was the definitive truth, hence my comment.
  • K80_Black
    K80_Black Posts: 466 Forumite
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    eskbanker wrote: »
    If you look again at your wording that I quoted, there's nothing there that signifies it as opinion, it's phrased as if it was the definitive truth, hence my comment.


    The fact that some random on the internet said it, means it's an opinion. I can say the world is the shape of a tinned pineapple ring balanced on the back of a walrus, definitively. Doesn't make it the truth.
  • eskbanker
    eskbanker Posts: 31,451 Forumite
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    K80_Black wrote: »
    The fact that some random on the internet said it, means it's an opinion. I can say the world is the shape of a tinned pineapple ring balanced on the back of a walrus, definitively. Doesn't make it the truth.
    Well thanks for the heads up - most of us (apart from Donald Trump obviously) happen to believe that differentiating between fact and opinion is kinda important but the admission about how much credibility should be attributed to your posts is noted....
  • agrinnall
    agrinnall Posts: 23,344 Forumite
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    K80_Black wrote: »
    Pay day loans are almost certainly NOT cheaper than an overdraft. £750 for 20 days costs £25 with Halifax, or £180 through quickquid.


    Which is why I made a point of saying "very quickly", i.e. a few days, not 20.
  • K80_Black
    K80_Black Posts: 466 Forumite
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    agrinnall wrote: »
    Which is why I made a point of saying "very quickly", i.e. a few days, not 20.


    Aye, and £750 for 2 days with Halifax costs £2.50... overdrafts ARE cheaper.
  • K80_Black
    K80_Black Posts: 466 Forumite
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    eskbanker wrote: »
    Well thanks for the heads up - most of us (apart from Donald Trump obviously) happen to believe that differentiating between fact and opinion is kinda important but the admission about how much credibility should be attributed to your posts is noted....


    I'm just honest. I'm an unemployed schizophrenic, with no financial training. I'm going to make mistakes. There's plenty of people here who do. See the muppets above who keep saying that payday loans are cheaper than an overdraft. I notice you're not calling them out.

    I could have written might scupper your chance for a decent mortgage (as you still may end up with a higher APR, or being able to borrow less), I didn't. I'll live. I'm still not convinced you're right, but as there's literally no way to tell if someone would get a higher APR say 6 years after a payday loan, I guess we'll never know.

    If people take what they read on a public forum as gospel with no further checks, then that's their problem. You have no idea who is behind the keyboard.
  • agrinnall
    agrinnall Posts: 23,344 Forumite
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    K80_Black wrote: »
    Aye, and £750 for 2 days with Halifax costs £2.50... overdrafts ARE cheaper.


    Not if they're unarranged...


    Your sincerely,



    A "muppet" who does have some knowledge of financial products and who worked for many years in IT for some of the world's biggest financial organisations.
  • K80_Black
    K80_Black Posts: 466 Forumite
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    agrinnall wrote: »
    Not if they're unarranged...


    Your sincerely,



    A "muppet" who does have some knowledge of financial products and who worked for many years in IT for some of the world's biggest financial organisations.


    No, obviously not if they're unarranged. Literally no-one has said to use an unarranged overdraft.




    I am dating a guy who does IT for the NHS. This does not make him a doctor. Restart your router, call him. Restart your heart, call a doctor. Same applies to your experience.

    I also note you said 'worked', so not currently then? I have worked in many industries too, just because I'm currently unemployed doesn't mean I'm not educated or have never worked.
  • cloud_dog
    cloud_dog Posts: 6,063 Forumite
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    Zero_Sum wrote: »
    It does work both ways, post an arrogant thread saying how great you are, expect a bit of scrutiny. And thats all thats happened.
    Seriously? Because you feel it is an 'arrogant' post you have consciously / subconsciously responded in the manner you did. Sad, very sad.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
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