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Thread: Pay day loans

  
  1. #1
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    Pay day loans

    After PVS I am very low on cash for the rest of the month £67 till the 26th to be exact.

    Now I'm seeing a lot of these "Pay day loans" being advertised on websites and such and I've checked them out. A lot of them seem to be for every £100 you borrow you pay £25 back.

    Got a letter today from a collections agency saying I need to pay £80 otherwise my vehicle would be clamped etc as I'd forgot to pay the DVLA £80 for not SORNing my car a few months ago.

    I was thinking of loaning about £200, has anyone had experience with this kinda thing or can anyone offer any advice on them. Or should I just start putting adverts in the local paper for a Male escort service? I hear the money is really good

    thanks
    Astra is coming back..bigger badder and better
    ..or is it? Thinking of buying a coupe

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    i looked into them but there crooks. 300% interest rate or something stupid like that! Steer clear, there must be a family friend, or phone the DVLA and tell them your situation
    You Can Sleep In Your Car But You Can't race Your House!

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    You would pay an extra £50 interest on £200.

    http://www.paydayuk.co.uk/getting-st...r-charges.html

    1355% apr for one month!

    Also dont forget that it means you will be £250 down next month because of paying it back in one lump


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    Quote Originally Posted by GTE_LET View Post
    1355% apr for one month!
    i thought i was exagerating when i said 300%!
    You Can Sleep In Your Car But You Can't race Your House!

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    Get a 0% credit card and withdraw off that.

    Personally i just have an arranged overdraft with my bank which i get charged sod all for so if i need to go over i can a little.

    I don't do loans.

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    Ask your cousin for a short term loan.

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    Quote Originally Posted by Millen99 View Post
    Get a 0% credit card and withdraw off that.

    Personally i just have an arranged overdraft with my bank which i get charged sod all for so if i need to go over i can a little.
    The best solution, 0% credit card or arrange an interest free overdraft.

    Short term loans will never be cheap!

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    Quote Originally Posted by buckle View Post
    The best solution, 0% credit card or arrange an interest free overdraft.

    Short term loans will never be cheap!
    Its only a good solution if you are able to get a 0% credit card. Id recommend staying clear of these types of places.

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    Loads available, unless you have a bad credit rating.

    Tlee take a look at moneysupermarket.com, can search for best rates on credit cards, loans etc.

    Just don't do a payday loan lol

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    I wouldn't recommend any of the above but if needs must i reckon it's the best way.

    I personally don't own a credit card at all. But yeah those short term loans are silly money.

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