Payday loans!

ArtyC

Although very common in the uk, not so much here. I'm in a tight spot. Very tempted .... Well desperate more than tempted. Anyone here have good/ bad stories about these loans. Font want to make my situation worse. I'm in full time employment but after a week of weetabix I could do with a loan I could pay back gradually. Bank and credit union a no go

Hootanany

Bad idea i think 1000%

lertsnim

Steer well clear. They are gangsters

Anyone

ArtyC wrote: »

Although very common in the uk, not so much here. I'm in a tight spot. Very tempted .... Well desperate more than tempted. Anyone here have good/ bad stories about these loans. Font want to make my situation worse. I'm in full time employment but after a week of weetabix I could do with a loan I could pay back gradually. Bank and credit union a no go

Not available over here thankfully. They are a bunch of robbing b*****s. 1000-2000% APR and they take the money from your bank account.

Ask a friend/family member, ask your employer is there a chance of an advance. Long term, fix whatever you did to make the Credit Union a no go

SebBerkovich

I'll lend you some cash for only 999% APR.. we should talk...

ArtyC

I've no savings with the credit union. Lovely staff in there but with no savings = no loan.

Irishcrx

There is one available , they have a website but I can't remember the name. As far as I know it doesn't work like the UK, you can apply online and that but they send a guy down to your house to sign you up and give you the money and he then calls over to collect it. So it's just really a loan shark online.

I'd steer well clear , it's not worth the hassle and you'll end up paying through the nose so what ou get , try friends and family first these are a last resort and even at that your just putting yourself in more bother.

syklops

ArtyC wrote: »

Although very common in the uk, not so much here. I'm in a tight spot. Very tempted .... Well desperate more than tempted. Anyone here have good/ bad stories about these loans. Font want to make my situation worse. I'm in full time employment but after a week of weetabix I could do with a loan I could pay back gradually. Bank and credit union a no go

If you're in full time employment, where is your money going that you have to live on weetabix? Instead of looking for a quick fix, try and find a long term solution.

A friend of mine says the solution to not having any money the week before payday, is to not spend any money the week after you get paid. I don't quite follow his advice, but it is easy to do a big splurge the weekend you get paid, only to arrive into work on the Monday, 2 days after being paid and realising, you have very little left. Keep a diary of what you are spending money on, so that you know where it is going, and try to make adjustments.

The payday loans are a bad idea, as they are just kicking the can down the road.

SicklySweet

Is this a serious thread??

Don't do it! Want to know why it's not so common in Ireland? It's because since being screwed over so much people have been suspicious with their money! IMO anyway. If it's too good to be true, don't even try. I can't even begin to explain how bad your thoughts are. I actually feel like i'm talking someone out of taking their gun from their head.

Don't do it or i'll

i'll


Uh


I'll be very disappointed in you!

Anyone

ArtyC wrote: »

I've no savings with the credit union. Lovely staff in there but with no savings = no loan.

As I said, long term, you should change that. Put 5-10 euro a week in there so when this situation happens again, you have a better option.

Senna

Getting paid monthly is a PITA, Weekly is so much better.

hardCopy

Talk to MABS

syklops

Irishcrx wrote: »

There is one available , they have a website but I can't remember the name. As far as I know it doesn't work like the UK, you can apply online and that but they send a guy down to your house to sign you up and give you the money and he then calls over to collect it. So it's just really a loan shark online.

I'd steer well clear , it's not worth the hassle and you'll end up paying through the nose so what ou get , try friends and family first these are a last resort and even at that your just putting yourself in more bother.

Stay well clear. When they go out to you they'll be all "oh what lovely net curtains you have", but once repayment is due they will be like "it could be very difficult to properly appreciate your net curtains with 2 broken legs, wouldn't it?"

tiger55

ArtyC wrote: »

Although very common in the uk, not so much here. I'm in a tight spot. Very tempted .... Well desperate more than tempted. Anyone here have good/ bad stories about these loans. Font want to make my situation worse. I'm in full time employment but after a week of weetabix I could do with a loan I could pay back gradually. Bank and credit union a no go

they can be OK if you have the money to pay back the loans.

Most high street loans do it for you borrow £100 and you payback £125 at payday.

It is £25 for every £100 you borrow.

syklops

tiger55 wrote: »

they can be OK if you have the money to pay back the loans.

Most high street loans do it for you borrow £100 and you payback £125 at payday.

It is £25 for every £100 you borrow.

Thats 25% interest. Instead of paying 25 quid to them on payday, put 25 quid into a savings account, for situations like this.

FTA69

Don't do it. A lad I worked with took out a £500 loan one month and he's paying it back a year later. Tough out the Weetabix for another week and as others have said above, keep a spending diary every month.

How these f*cking vultures are allowed to trade is beyond me, them along with the cash for gold chancers should be shut down.

mathie

syklops wrote: »

Thats 25% interest. Instead of paying 25 quid to them on payday, put 25 quid into a savings account, for situations like this.

Did you work for Enron?

byronbay2

You don't pay back a Payday Loan gradually. They give you a loan on (say) the 15th of the month and you repay the money (+ usurious interest, of course) when you get paid at the end of the month - interest is accrued daily. If you don't repay at the end of the month, it gets "rolled over" to the next month and that is when it starts getting REALLY expensive.

As long as you understand what you're getting into and know that you can definitely repay what you owe on time, then you can decide for yourself. I certainly wouldn't advise it but you know your situation better than I do.

Is there any chance that you could get a credit card, even with a limit of €500 or so? This would allow you to spend money you (temporarily) don't have but with free 56-day credit rather than an APR of (give or take) 1367%!

syklops

mathie wrote: »

Did you work for Enron?

No, Barings Bank.

tiger55

syklops wrote: »

Thats 25% interest. Instead of paying 25 quid to them on payday, put 25 quid into a savings account, for situations like this.

Only done it twice, and paid it off on pay day.

beano345

big thing in canada! interest is unreal for every 100$ you borrow you owe 120$ back,glad i ripped them off!

donegal_road

beano345 wrote: »

big thing in canada! interest is unreal for every 100$ you borrow you owe 20$ back,glad i ripped them off!

I remember this in Canada alright, their ad was 'loans til pay day... when there is more month than money'

get yourself a fishing rod ArtyC. You will have peace and quiet to think of a ground breaking money making idea, and fish and chips for dinner..

petes

Provident is the place you are thinking of. Get €500 and pay back €650 :eek:

beano345

donegal_road wrote: »

I remember this in Canada alright, their ad was 'loans til pay day... when there is more month than money'

get yourself a fishing rod ArtyC. You will have peace and quiet to think of a ground breaking money making idea, and fish and chips for dinner..

their everywere in toronto! money mart,cash money etc its a vicious circle because when you pay it back you more or less need to take out another one!

Ruu

Bloody things are on every street corner in the US, they go after your car here.

galwayhillbilly

Short-term Go to the vincent de paul and explain your sitation, long term go to MABS stay away from the pay day loan as you end up having to get the same loan every time before pay day only it gets bigger and you have to start taking it out earlier each month.
Also some credit unions will allow you to take out a a loan without savings, especially if you are in danger of falling into the hands of loan sharks. It will hurt nothing only your pride if you go in and ask the worst that can happen is that they will say no. and you have only lost 1/2 hour of your time
To state the obvious, If you cant make ends meet there are 2 courses of action, reduce your outgoings or increase your earnings. Look at both, if you can do a bit of both then you might solve your problem. it is coming into the summer, there might be a bit of part time bar work, waiting tables or farm labouring going somewhere. Jobs where there is food being served = the possibility of free leftovers
No. 1 piece of advice though, go to the charities today, they will give you something even if it is only a can of soup.
On a positive note you must have a very well cleansed bowel after a week on weetabix

FTA69

beano345 wrote: »

their everywere in toronto! money mart,cash money etc its a vicious circle because when you pay it back you more or less need to take out another one!

London is destroyed with them too. Usually sandwiched between cash for gold, bookies and bloody charity shops.

beano345

FTA69 wrote: »

London is destroyed with them too. Usually sandwiched between cash for gold, bookies and bloody charity shops.

i think one of the big banks RBC or one of them is behind them in canada,lot of controvery over them when i was there,they should'nt be let operate!the only good thing was they cash your cheque if you were illegal over there......with a hefty cut for themselves:rolleyes:

biko

Hell no. Keep living on cereal OP, at least you have that.

the groutch

galwayhillbilly wrote: »

Short-term Go to the vincent de paul and explain your sitation

no, no, a million times no!
the OP is in full time employment, that's not what SVDP is for.
there is always ways to save money in his/her budget and avoid "living on Weetabix" without taking a charity's money away from those who really need it.

SEPT 23 1989

+1 on the VdeP

free food

syklops

the groutch wrote: »

no, no, a million times no!
this guy is in full time employment, that's not what SVDP is for.
there is always ways to save money in his/her budget and avoid "living on Weetabix" without taking a charity's money away from those who really need it.

SVDP is for people who have fallen on hard times. If the OP is hungry and has no money, regardless of his other circumstances, then this is what the SVDP is for. Instead of a pay day loan, go to the SVDP, and instead of giving 25% to some loan shark, go back to the SVDP and contribute something to them. You'd be amazed how far they would stretch 25 euro.

Grandpa Hassan

ArtyC wrote: »

Although very common in the uk, not so much here. I'm in a tight spot. Very tempted .... Well desperate more than tempted. Anyone here have good/ bad stories about these loans. Font want to make my situation worse. I'm in full time employment but after a week of weetabix I could do with a loan I could pay back gradually. Bank and credit union a no go

You don't pay a payday loan back 'gradually'. You pay it back in full on your payday. Otherwise you're screwed.

Far easier to stick on the weetabix for another week

DrumSteve

This is AH. Get the loan. Itll be fine.

Ray Palmer

They are what they are you just need to be able to use them. It is like a credit card to an extent. People who use them incorrectly are the one that the fault lies with.

A short term loan with a high interest rate.

Wonga actually operates out of Ireland. I wouldn't even apply for a job with them as I find it morally questionable.

I personally wouldn't use them and luckily don't ever see a need.

Odysseus

the groutch wrote: »

no, no, a million times no!
the OP is in full time employment, that's not what SVDP is for.
there is always ways to save money in his/her budget and avoid "living on Weetabix" without taking a charity's money away from those who really need it.

I think it is up to SVDP to make their own call on that, and depending on his personal circumsatnces from what I know they may indeed intervene.

the groutch

syklops wrote: »

SVDP is for people who have fallen on hard times. If the OP is hungry and has no money, regardless of his other circumstances,

by that logic you would have SDVP paying people's mortgages if they lose their job.

syklops

the groutch wrote: »

by that logic you would have SDVP paying people's mortgages if they lose their job.

I think you will find SVDP are helping people feed themselves while they spend their dole money on mortgages. Thats an everyday occurrence.

Goolay

This thread has (genuinely) made me hungry for Weetabix.

Don't do it OP

petes

the groutch wrote: »

by that logic you would have SDVP paying people's mortgages if they lose their job.

You are really living up to your user name aren't you!!

Don't see any problem.. The high APR figure is just pointless the loans get paid off so quickly.

If I was getting 2k into my account next week but had nothing this week, I'd see it as more than worth it to pay 25e interest to have 100e now and buy food. I'd go the opposite and say that only an idiot would go starving on Weetabix instead.

syklops

Deleted User wrote: »

Don't see any problem.. The high APR figure is just pointless the loans get paid off so quickly.

If I was getting 2k into my account next week but had nothing this week, I'd see it as more than worth it to pay 25e interest to have 100e now and buy food. I'd go the opposite and say that only an idiot would go starving on Weetabix instead.

If your living on weetabix and you're still starving then you're doing it wrong.

syklops

syklops wrote: »

If your living on weetabix and you're still starving then you're doing it wrong.

I actually did live on Weetabix for 5 days before in university and wasn't starving.. Should have been "go starving and have to live on Weetabix".

I was noticeably white afterwards so I don't recommend it.

hal9000

payday loans companies, great bunch of lads cЦnts!

hal9000

hal9000 wrote: »

payday loans companies, great bunch of lads cЦnts!

Yea, those complete scum offering a service with all the conditions laid out easily for people.
Damn the banks! They gave me a mortgage. Damn the pay-day loan companies! They gave me a lend.

Love people's warped sense of responsibility.

enda1

There is a maximum APR in Ireland on loans which either doesn't exist in the UK or is a magnitude+ higher.

Cantona's Collars

Goolay wrote: »

This thread has (genuinely) made me hungry for Weetabix.

Don't do it OP

I just had some rasher sambos,yum.

Aldi & Lidl,ftw. There's enough in their fruit & veg offers to knock up a half decent meal for about €2.

@The op,avoid the sharks that are payday loan crowds.The BBC did a piece on them,a lot of people ended up getting a loan then getting another from a different crowd just to pay back the original one-a vicious circle.

beano345

Deleted User wrote: »

Yea, those complete scum offering a service with all the conditions laid out easily for people.
Damn the banks! They gave me a mortgage. Damn the pay-day loan companies! They gave me a lend.

Love people's warped sense of responsibility.

maybe if world economies didnt have the average joe in debt or on the verge of it they would'nt need to exist!

ArtyC

syklops wrote: »

If you're in full time employment, where is your money going that you have to live on weetabix? Instead of looking for a quick fix, try and find a long term solution.

I'm newly in full time employment. Have a dependent spouse who's waiting on the dole and recently moved into a house. It's for the deposit. My wages after 40 hours a week is 320 . It's been a tough couple of weeks and didn't know where else to post/ ask. I pay 50 back a week on loan. With boi. I pay the rent and bills. Yes even people in full time employment can end up on the weetabix.

The J Stands for Jay

Senna wrote: »

Getting paid monthly is a PITA, Weekly is so much better.

Rent week is no barrel of laughs when you're paid weekly.

Corkbah

beano345 wrote: »

maybe if world economies didnt have the average joe in debt or on the verge of it they would'nt need to exist!

its always the world economies fault .... blame the government, blame the EMF, blame the IRA, blame another acronym !!

take feckin' responsibility for your own actions .... OP... monitor your finances, if you can afford weetabix you can buy the cheaper brand in Aldi, Lidl, Dunnes, Tesco etc and I'm guessing that weetabix is not dry so you'll probably have milk/sugar or a piece of fruit with it.

try buying a big bag/box of porridge - cheaper than weetabix and more filling...and better for your dietry system.