Hi,

Ive been looking to get a short term loan of 50 pounds to pay back by April, but cant find any websites. Can anyone reccomend any companies?

Im a student, Im not working, and the bank wont loan me any more money!

I was recomended a company called provident but they dont have an agent in the area.

Thanks,
m

try to avoid provident i heard there intrest rates are sky high but then again most small loans seem to have high rates

For such a small amount for such a short time, a credit card with 0% for 6 months should fit the bill.

Not sure if i could apply for a credit card with having a student loan and a bank overdraft already...

i know a few loan companies advertise in the back of the star might be worth checking a few of them out but be aware of high intrest rates for a short term loan

£50?

Decide very quickly if you really need it and check out friends and family first.

Borrowing outside the banks, cards & community credit societies will cost you a fortune.

If you are so desperate that you need to ask for help in borrowing £50, I am sure that you cannot afford their (the outsiders) repayment terms.

Do you want a weekend's (hard) work?

If you need to pay back #50-00 by April, let's do some quick sums.

Even if it's early April, that's a tenner a week.

Is that beyond your budget to save for? Because if it is then paying back the loan will probably be too expensive. Short term loans to people who might be viewed as a bad debt risk usually involve high interest....

Or is it that you need #50-00 now and you would be paying it back in April when you receive funds?

Joe

Hi,

I need the money so I can go home over easter break, and at the moment I've just got money enough to eat til then!!

Yes cgksheff I would be well up for a hard weekends work, within reason!!

matt

Yeah JoePritchard its i need 50 now and would be paying back in April when i get money again!

Have considered friends, but theyr'e all students and are in as bad a situation as I am, and my family dont know im in debt!

Sorry, Matthew, I was being dim last night!

Have you considered e-bay? Or do you have anything you could Pawn?

Or would you need 'cash in hnad' rather than feed the maw of the bank overdraft?

Joe

when i was a student there was a place near the ski village that would take on casual workers, it is stuffing mail for banks and promos, it only paid minuim wage but if there was work they would take you on, just used to have to ring them in the morning to check that there was enough work on. They opened about 4 am till 8pm so plenty of hours to be had.

I often worked there when i got stuck, If you are interested i shall try and find the number for you just pm me. ( or the university job section may have their number advertised)

Hi,

Evei - if you could get me the number i'd be grateful.

Joe, dont mind how im paid, im already selling a few things on Ebay but dont have anything valuable to pawn.

matt

send you a pm

hope they are still taking on for you.

cheers , fingers crossed!

Do you already have a Barclaycard? If not then they'll give pretty much any student one with a limit of around £450, you don't have to be earning.

I doubt they'd give me one, tried applying for a different card and my credit rating was too bad!!

Originally posted by matthewluck
I doubt they'd give me one, tried applying for a different card and my credit rating was too bad!!

Its worth a try, I've heard a few people saying they will give them to any student, hence why they advertise at freshers week etc. I know several people who were sent one and they had been refused credit from all sort of other places.

How did you go on Matthew. Did you get your money to go home.
Hazel

yeah, my parents put some money into my bank without me even asking :)

matt

Matthew Can I recommend you join a Credit Union then you won't have this problem again. Credit Union's are non-profit making co-operatives that are run by their members. They are regulated by the Finanical Services Authority and are not allowed to charge more than 13% (apr) interest. You normally have to save for a little while before you can borrow but this doesn't have to be large sums in most credit unions as long as it is regularly even £1 would be ok. Also you don't need to be working to borrow and can borrow small sums like £50 which banks wouldn't consider lending. Most credit unions in Sheffield are residential or living and working based which means you only have to live or work in their area to qualify to join. Sheffield currently has a shop front office on the galley near the castle market. If you Pm me I'll give you the number alternatively I know of some of the areas which are covered by credit unions but not all.

I used to be Treasurer for Firth Park Credit Union and on the management committee of Sheffield Credit Union Development Agency. The Development Agency no longer exists in the same form but has merged to form Sheffield Credit Union. The basic idea behind Credit Unions is to help people obtain reasonably priced credit and encourage thrift. An added bonus is that it put many of these "loan sharks" and companies such as provident they prey on the people that can least afford their charges out of business. They are run and managed by volunteers and all profits made from the interest charged goes back to the members in the form of dividends and reserves to cover expenses.

Thanks for that I'll check that out!

Hi Mathew, can i just add a few general words of erm...well doom.

I know of students who, even now they're in their 30's still haven't recovered from the debt problems they got into at uni.

I know students need credit just to live and it is hard, the people I know were just living way beyond their means and thought tomorrow would never come, now it as they are suffering big style.

Please don't let this happen to you.

take care, ole.