Hey there! Sign in to join this conversationNew here? Join for free
    • Thread Starter
    Offline

    0
    ReputationRep:
    Hi, I'm a student and I'm not employed at the moment but really urgently need money. The bigger problem is that soprt term loan companies won't give you a loan if you are unemployed, but I plan to use my student loan (which doesn't come through for another month) to pay off the £150 I want to borrow. Does anyone know a legit companies that will understand this? or any other way I could borrow this money ? Thanks.
    Offline

    2
    ReputationRep:
    Don't, DO NOT resort to those payday loan companies. Just ask some friends and family, and just say you'll pay them back within a month.
    • Thread Starter
    Offline

    0
    ReputationRep:
    Yea I know....I've been told its not a good idea but I don't have anyone/where else to borrow from.
    Offline

    3
    ReputationRep:
    Okay I know people have said this already, but I'll say it again, don't take out a payday loan! The interest rates are ~2000% (at least) so after a month you would owe an awful lot of money to them. What do you need the money for? It is completely necessary? Can't you borrow money off your parents, or maybe a rich friend?
    Offline

    3
    ReputationRep:
    (Original post by Bektas)
    Don't, DO NOT resort to those payday loan companies. Just ask some friends and family, and just say you'll pay them back within a month.
    This.

    With the interest repayments you'll be repaying a lot more than the £150 borrowed.
    Offline

    2
    ReputationRep:
    (Original post by SirMasterKey)
    This.

    With the interest repayments you'll be repaying a lot more than the £150 borrowed.
    Well, not really. This website says that you'd pay £50 if you borrowed £150 for a month; it's still a high interest rate though.
    Offline

    0
    ReputationRep:
    Whatever you do - do not take out a payday loan. The interest will kill you.

    Try earning some money through freelancing, ask the University if you are eligible for any hardship funding.
    Offline

    14
    ReputationRep:
    No no no and no. Never take out a payday loan, the interest rates are extortionate and you'll regret it as soon as you take it out.

    Edit - why has this been bumped from two years ago? Ah well it's still relevant if anyone is considering it.
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Would you like to hibernate through the winter months?
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.