Payday loan

Hardball15

Looking to borrow 600-700 euro until payday at the end of the month. It seems there are no real payday loan providers in ireland - can someone suggest an alternative? I have existing bank facilities so that's not an option. Pawn broker is not an option as don't have any possessions of significant value that i can part with.

Thanks

Flatzie_poo

Hardball15 wrote: »

Looking to borrow 600-700 euro until payday at the end of the month. It seems there are no real payday loan providers in ireland - can someone suggest an alternative? I have existing bank facilities so that's not an option. Pawn broker is not an option as don't have any possessions of significant value that i can part with.

Thanks

Do not touch payday loans or any of the equivalent.

If you can get an O/D, interest rates are generally lower.

Approach your bank before going near vultures like that.

However, if this is life or death, then a crowd called Provident is your best bet. But again, avoid at all costs if any way possible.

blindside88

What was said above is spot on. They are vultures, you'd be better off using s credit card to withdraw cash even than touch any of those crowds. Your bank may have some way of providing a small top up to an existing loan

Saipanne

In the long run, is there any way you can:

A) Cut monthly costs

Increase your income

C) Supplement your income

It sounds like your finances may get worse, under the current circumstances?

Hardball15

Thanks for advice guys. I already have OD and loan facilities maxed out i'm afraid (not large amounts but top up is not an option). Not life or debt as i have a few mates who could help me out, however i don't feel great asking them again - pride is an awful thing!

I understand the risks involved with short term lending and what i am looking for is not huge relative to my income, so i was hoping there might be some relatively reasonable alternative option.

Hardball15

Saipanne wrote: »

In the long run, is there any way you can:

A) Cut monthly costs

Increase your income

C) Supplement your income

It sounds like your finances may get worse, under the current circumstances?

Saipanne - as strange as it sounds i manage my monthly costs quite well. My debt is largely from college and a few trips which were probably beyond my means at the time. Given my salary the past few years i haven't been able to clear it off. My salary almost doubled recently so i will be fine going forward - just an unexpected expense caught me out a bit this month.

Flatzie_poo

Hardball15 wrote: »

pride is an awful thing!.

Swallow it.

Interest is extortionate with these guys.

I didn't give you the name of that place lightly. If it's not life or death don't do it.

It's very easy to become dependent. A lot easier than you think.

Approach your friends, if they saw no and your pride is in tatters, you can go back to the payday loan option.

Atlantic Dawn

Have heard Provident advertising on the radio, the interest rate is 157.3%, to put that in to perspective a credit card would be around 20%, if you borrowed €500 from this company in a year you would owe €780. I would contact friends, family, even perhaps your employer before using one of these companies, only use as a last possible resort when every other option is exhausted.

http://www.providentpersonalcredit.ie

Sleepy

Would you be in a position to ask your employer to sub you some of your wages until the end of the month?

I've had to do it in the past when I had some car trouble I wasn't expecting and they were great about it... It's a handy interest-free solution when you're really stuck.

Hardball15

Flatzie_poo wrote: »

Swallow it.

Interest is extortionate with these guys.

I didn't give you the name of that place lightly. If it's not life or death don't do it.

It's very easy to become dependent. A lot easier than you think.

Approach your friends, if they saw no and your pride is in tatters, you can go back to the payday loan option.

All good advice Flatzie. Couldn't agree more with how easy it is to become dependent - i have been cutting it tight for a while. Thankfully I have the means to get out now but not always easy.

Hardball15

Sleepy wrote: »

Would you be in a position to ask your employer to sub you some of your wages until the end of the month?

I've had to do it in the past when I had some car trouble I wasn't expecting and they were great about it... It's a handy interest-free solution when you're really stuck.

It wasn't something i had considered to be honest. My boss would need to approve and unfortunately the true cost of a favor would probably be more painful than a few hundred quid!

Just going to suck it up and ask a mate.

I do think there is space for a more reasonable short term lending service in Ireland - a middle ground between the banks and the Wongas of the world.

Atlantic Dawn

Hardball15 wrote: »

I do think there is space for a more reasonable short term lending service in Ireland - a middle ground between the banks and the Wongas of the world.

The maximum interest rates allowed by law are not high enough for these companies to operate here.

Porridge77

Defo ask for an advance in work, it shouldn't be an issue at all as a once off.

Mrs OBumble

Ask for an advance from work - and tell your manager that you have personal financial problems? A very CLM if ever I heard of one. Payday loans are run by scummers - but IMHO would be better than telling the company.