Way to get a loan Watch

Hud5afaa
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#1
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Hey people
So as silly as it sounds, I am a just-turned 17 year old who needs a loan of money. I need money to buy several things that I feel are needed to make me happy. Don't we all.

I get paid a monthly amount of money by my Father, that he is legally held to giving to me. The only problem is this money isn't a lot and I'm too young for a loan.

So I had some ideas, like using the monthly money to buy out a contract for an item (phone or something) and then selling that device for the cash. That way, it's basically the same as a loan.

However I can't exactly do this with a phone because it's suspicious as I already own a good new phone and a backup.

Does anyone know of any good items I could purchase on a monthly-contract that I could sell too?
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cheesecakelove
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(Original post by Hud5afaa)
Hey people
So as silly as it sounds, I am a just-turned 17 year old who needs a loan of money. I need money to buy several things that I feel are needed to make me happy. Don't we all.

I get paid a monthly amount of money by my Father, that he is legally held to giving to me. The only problem is this money isn't a lot and I'm too young for a loan.

So I had some ideas, like using the monthly money to buy out a contract for an item (phone or something) and then selling that device for the cash. That way, it's basically the same as a loan.

However I can't exactly do this with a phone because it's suspicious as I already own a good new phone and a backup.

Does anyone know of any good items I could purchase on a monthly-contract that I could sell too?
Would getting a part time job be an option - this is the best way to get the money to buy the things that you need!

If you are purchasing on items on a monthly contract to sell, would you make enough profit? What happens when you can't make your payments on time?

On the other hand, if you have unwanted items at home that you don't use anymore, you can look into selling this. You've already paid for the items so it is less hassle. You can use eBay, Amazon or Facebook Marketplace.
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Hud5afaa
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(Original post by cheesecakelove)
Would getting a part time job be an option - this is the best way to get the money to buy the things that you need!

If you are purchasing on items on a monthly contract to sell, would you make enough profit? What happens when you can't make your payments on time?

On the other hand, if you have unwanted items at home that you don't use anymore, you can look into selling this. You've already paid for the items so it is less hassle. You can use eBay, Amazon or Facebook Marketplace.
I know I wouldn't make a profit, that's why I'm looking at it from the perspective of a loan. I'm applying for part time jobs but with A level studies that I'm already struggling with, I feel this is the best option. The money I get monthly has been consistent for years and there's no indication it still won't be.
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cheesecakelove
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(Original post by Hud5afaa)
I know I wouldn't make a profit, that's why I'm looking at it from the perspective of a loan. I'm applying for part time jobs but with A level studies that I'm already struggling with, I feel this is the best option. The money I get monthly has been consistent for years and there's no indication it still won't be.
Why not just save up the money you are getting monthly to buy the things you want? There is no harm in waiting to purchase things, and it is a good way of seeing if you actually want to buy the items or just want to shop in the moment.

It is worth taking into consideration that buying things on monthly payment might only be available to those 18 and over depending on the item (if I have understood what you are talking about correctly)
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shanerobert951
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Here is some rule to get a loan.

#1. You should be more than 18 years and a UK occupant to get an individual advance.

#2. The amount you can obtain relies upon how much the credit organization figures you can reimburse.

#3. Credit organizations, for the most part, offer unbound advances of £1,000-£50,000.

#4. Run of the mill terms is from 1-7 years.

#5.Give yourself the most obvious opportunity with regards to getting an advance by setting aside the effort to:

#6. Ensure you meet the essential criteria for an advance.

#7. Work out the amount you can get reasonably.

#8.Figure a sensible reimbursement term.

#9.Ensure you check your credit report and search for approaches to improve your FICO assessment.
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Moses007
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If you want the loan only to buy several things then it's better to get any part-time job where you can generate some money to buy the things. Being in the age of 17 you need to control your expenses & need to be away from debts. All the best.
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uberteknik
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Do not under any circumstances get yourself into debt. Buying things to 'make me feel happy' will never work as it does not address the root of the issue causing grief.

Like a narcotic drug, the rush of mild satisfaction will wear-off rapidly and you will be left with the debt and a very high probability that you will default to be left with a court judgement seriously affecting your life - everything from rental accomodation, mortgage, overdraft, credit cards, bank accounts and even professional or managerial jobs will all be difficult or even impossible to attain.

Address the root cause of your insecurities first and whatever else, do not defraud someone else into gaining loans as they will also lose their job and be open to criminal prosecution so you will have that on your conscience as well to compound your self loathing.
Last edited by uberteknik; 4 weeks ago
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IWMTom
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(Original post by shanerobert951)
Here is some rule to get a loan.

#1. You should be more than 18 years and a UK occupant to get an individual advance.

#2. The amount you can obtain relies upon how much the credit organization figures you can reimburse.

#3. Credit organizations, for the most part, offer unbound advances of £1,000-£50,000.

#4. Run of the mill terms is from 1-7 years.

#5.Give yourself the most obvious opportunity with regards to getting an advance by setting aside the effort to:

#6. Ensure you meet the essential criteria for an advance.

#7. Work out the amount you can get reasonably.

#8.Figure a sensible reimbursement term.

#9.Ensure you check your credit report and search for approaches to improve your FICO assessment.
Did you just copy this from an American website and change the currency symbol to GBP? LOL.
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