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  • FIRST POST
    • Lealea3110
    • By Lealea3110 9th Jul 18, 4:47 PM
    • 11Posts
    • 1Thanks
    Lealea3110
    Loans for pensioners??? Are they a myth???
    • #1
    • 9th Jul 18, 4:47 PM
    Loans for pensioners??? Are they a myth??? 9th Jul 18 at 4:47 PM
    Think I posted in wrong place before... sorry....

    I'm just looking for some advice.....

    My nan is 75.... never had a credit card etc....

    My grandfather has recently passed and they received benefits via him.... he got carers etc as nan was looking after him.... her pension paid to her account shes had for 30+ years....

    they live in council sheltered accommodation and whilst she awaits the housing benefit etc to be changed over she has fallen behind with the rent.... she has started getting eviction notices (ive explained its extremely unlikely... however she is in a right panic) we been looking to get her a short term loan to pay off arrears until she is reimbursed....

    however these seem to be a myth!! She may be 75 but there is a lot of life in her yet!! I have only performed "soft searches" trying to see the possibility..... but so far all that comes back is guarantor or payday loans.....
    am I better trying to get a loan against my own home??
Page 1
    • zx81
    • By zx81 9th Jul 18, 4:52 PM
    • 20,666 Posts
    • 22,098 Thanks
    zx81
    • #2
    • 9th Jul 18, 4:52 PM
    • #2
    • 9th Jul 18, 4:52 PM
    They're not a myth. But they need to be able to afford them.

    She won't get a loan if she's struggling with rent payments.

    If you're willing to help her out, then do that.
    • Lealea3110
    • By Lealea3110 9th Jul 18, 4:57 PM
    • 11 Posts
    • 1 Thanks
    Lealea3110
    • #3
    • 9th Jul 18, 4:57 PM
    • #3
    • 9th Jul 18, 4:57 PM
    Thought so!... Thankyou xx
    • sourcrates
    • By sourcrates 9th Jul 18, 5:04 PM
    • 16,433 Posts
    • 15,541 Thanks
    sourcrates
    • #4
    • 9th Jul 18, 5:04 PM
    • #4
    • 9th Jul 18, 5:04 PM
    Failing that, its always better to come to an arrangement with the landlord, rather than borrowing your way out of trouble.


    You may be plesently surprised if you explain the situation to them, as the usual scenario is to just miss payments without any explanation, so the landlord is non the wiser as to why she hasn't paid, hence the letters.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    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 forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    • Tarambor
    • By Tarambor 9th Jul 18, 6:29 PM
    • 4,502 Posts
    • 3,450 Thanks
    Tarambor
    • #5
    • 9th Jul 18, 6:29 PM
    • #5
    • 9th Jul 18, 6:29 PM
    You need to talk to the council. If I could prevent my neighbours from being evicted from their council house with 12 months of arrears I'm sure you can manage to do it. The last thing council housing departments want to do is evict people so you need to talk to them.
    • Sncjw
    • By Sncjw 9th Jul 18, 7:14 PM
    • 2,012 Posts
    • 1,183 Thanks
    Sncjw
    • #6
    • 9th Jul 18, 7:14 PM
    • #6
    • 9th Jul 18, 7:14 PM
    How will she pay the loan back each month if she can!!!8217;t pay the rent
    • Robin9
    • By Robin9 9th Jul 18, 7:42 PM
    • 3,743 Posts
    • 2,385 Thanks
    Robin9
    • #7
    • 9th Jul 18, 7:42 PM
    • #7
    • 9th Jul 18, 7:42 PM
    Have you spoken to Age UK - they will have details as to what her entitlements are ?

    Another job for you - look at her utilities and insurances and see if there are better tarrifs for her
    Never pay on an estimated bill
    • Lealea3110
    • By Lealea3110 9th Jul 18, 8:13 PM
    • 11 Posts
    • 1 Thanks
    Lealea3110
    • #8
    • 9th Jul 18, 8:13 PM
    • #8
    • 9th Jul 18, 8:13 PM
    thanks for the replies ive paid it now and shes happy.....xxx
    • iolanthe07
    • By iolanthe07 10th Jul 18, 10:35 AM
    • 5,134 Posts
    • 4,833 Thanks
    iolanthe07
    • #9
    • 10th Jul 18, 10:35 AM
    • #9
    • 10th Jul 18, 10:35 AM
    How will she pay the loan back each month if she can!!!8217;t pay the rent
    Originally posted by Sncjw

    As I read it, the reason she can't pay the rent is because of housing benefit having to be put in her name. Once that is done, the rent and back arrears from when her husband died should be paid off. It is just a temporary blip which can be explained to the landlord and shouldn't need a loan if the landlord is reasonable.
    I used to think that good grammar is important, but now I know that good wine is importanter.
    • enthusiasticsaver
    • By enthusiasticsaver 10th Jul 18, 10:41 AM
    • 7,973 Posts
    • 17,935 Thanks
    enthusiasticsaver
    Once the housing benefit is sorted and in your nans name it should be backdated. Obviously she will lose the carers allowance but it might be a good idea to sit down with her and work out her finances. On a tight budget though a loan is never a good idea, pensioner or not.
    Early retired in December 2017

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • Ergates
    • By Ergates 11th Jul 18, 11:53 PM
    • 316 Posts
    • 456 Thanks
    Ergates
    thanks for the replies ive paid it now and shes happy.....xxx
    Originally posted by Lealea3110
    It's good that she has you to help her out.
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