I need to borrow between 80 to 100 pound but have poor credit which loan is best for me as i have been turned down by...
| Related: | Personal Finance•Money•Payday Loans |
... several companies
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by several companies and do not know where else to try
Answers (6)
Hello There
Have you thought of asking a family member or friend, and paying them back on your payday?
I borrowed a small amount of money from an online lender and am still paying it back now - the interest rates are phenomenally high. I know that online lenders seem like the perfect solution (I was drawn in too) but please take advise from someone who has been in your situation, I wish I had asked somebody that i know and trust instead.
Although this most likely will be embarrassing, you won't be further ruining your credit score, or paying back the small loan in 6 months time :)
Hope this helps,
Jade x
Hi pkenna, please please please don't take a payday loan, the debt will spiral and you'll find it sooooo hard to clear!! I don't know what you desperately need the money for, but you may be able to get a crisis loan for example. As Jade says, ask a friend or family member if at all possible, anythign but a payday loan
Hi pkenna, and welcome to the forum.
I agree with Jade and Jazzj, a payday loan might seem like the answer, but it can easily lead to a far worse situation and spiral quickly out of control.
Have you considered a credit union loan? Many credit unions are relaxing their rules and lending to more people. Have a look here for more info...
http://www.abcul.coop/credit-unions/borrowing-from-a-credit-union
Another good idea, can you borrow from them without paying in first.........?
Some are allowing that now, Jazzj.
I didn't know that fruitcake, thanks
Very sensible advice Jade and there is usually a family member who can help out in an emergency rather than having to pay loads of interest.
I'm not so sure Sabre, so many families are spread out all over the place now and I think sometimes that unit cohesion goes. I know I wouldn't ask my family for help, whatever happened. Maybe I'm just too stubborn and proud, but I tend to think it's my mess, I have to sort it
Yes but you are a wonderful Mum and are looking after four children who I expect will never have to borrow from you ever. But if they came to you I'm sure you would be the first to help out. We all have to help someone in life and I've lent, given and never received anything back but that's life.
I'd willingly give my last penny to my children if they needed it Sabre, no question, but there's no way I'd ask my brothers or sisters for help!
Great advice from everybody so far. If you have any alternative at all, please don't take a payday loan.
My suggestion is to call into a local credit union.
like creativesaver says i would call a local credit union... PayDay loans carry a very high rate and can be the start of the snowball effect...
All too often I hear calls from clients at our debt resolution section of the company and the payday loan stories seem to be increasing...
listen to what jade is saying below. I hope you find the right solution.
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Very wise advice, Jade! :-)