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Need funds, how can I best go about getting it?

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  • 17-02-2009 6:49pm
    #1
    Glacier
    Closed Accounts Posts: 647 ✭✭✭


    I'm not working at the moment. I own a house completely worth about €650,000 that is on the market to rented & should bring in €1,500 a month or so. I need to raise some money (€500-1000) or so. I was refused a Credit Card application on the basis that there has not been much activity on my account. Is there any way at all I can raise it. I appreciate any help given


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    #2
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Glacier wrote: »
    I'm not working at the moment. I own a house completely worth about €650,000 that is on the market to rented & should bring in €1,500 a month or so. I need to raise some money (€500-1000) or so. I was refused a Credit Card application on the basis that there has not been much activity on my account. Is there any way at all I can raise it. I appreciate any help given

    A Job?


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    #3
    Gordon
    Registered Users Posts: 35,524 ✭✭✭✭Gordon


    Ouch! Overdraft?


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    #4
    Glacier
    Closed Accounts Posts: 647 ✭✭✭Glacier


    I'm going to trying that.


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    #5
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Get a job? or an Overdraft? because you will have serious difficulty getting one (i.e the Overdraft) without the other (Job). Seriously.


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    #6
    Gordon
    Registered Users Posts: 35,524 ✭✭✭✭Gordon


    What, the job or the overdraft?! Your internal credit rating may just give you the same decline but it might work.


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    #7
    Glacier
    Closed Accounts Posts: 647 ✭✭✭Glacier


    I'm trying the Overdraft


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    #8
    Glacier
    Closed Accounts Posts: 647 ✭✭✭Glacier


    Am I screwed?


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    #9
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    From experience I'm afraid the O/D will not happen. Sorry but it won't unless you have some sort of income to warrent same.


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    #10
    Glacier
    Closed Accounts Posts: 647 ✭✭✭Glacier


    Even if I can proove that there will be income with letter from Agency?


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    #11
    pigeonbutler
    Registered Users Posts: 666 ✭✭✭pigeonbutler


    The simplest way to get funds in is drop your asking price on the rental property to attract a tenant! You'll get 2 months rent in the door straight away (deposit + month in advance).

    There's no point saying "it's worth xxx euro a month" while it lies empty for a few months (or in your case having it empty for even a few weeks is crazy given your need for cash).

    Finally I presume a letter from a letting agency won't be worth the paper it's written on given the state of the rental market these days.


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    #12
    Glacier
    Closed Accounts Posts: 647 ✭✭✭Glacier


    So Am I Doomed?


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