Right then ......

[chalkie99]

How come a loan shark has lent you £5k and you owe him 5k?

Put the guy on here - he needs business advice.

 

[khalid1]

Steve,

I've read this post from front to back and you've failed to actually explain everything...

1. You need 5k to pay a loan shark back, what happens then?

2. Are you working? If so, couldn't you do overtime?

3. If you are working full time can't you get a second job?

4. What the hell did you do with the 5k?

 

[steve.s.jones.1982]

He loaned me 4 grand.

 

[papverpoppies]

How come a loan shark has lent you £5k and you owe him 5k?

Put the guy on here - he needs business advice.

That is not funny.


Poppy xx

 

[papverpoppies]

He loaned me 4 grand.

Steve is there interesting stack up on this debt everyday, that is usually how loan sharks work.

POppy xx

 

[steve.s.jones.1982]

1. You need 5k to pay a loan shark back, what happens then?

He leaves me and my family alone, so I can concentrate on earning money and live life correctly.

2. Are you working? If so, couldn't you do overtime?

I work full time. There isnt the money available to work overtime. Im looking for another job but that wont happen in the next few days.

3. If you are working full time can't you get a second job?

I've got a second job doing web and graphic work. I've been fishing and fishing for more projects recently but nothing has developed. I guess its cause i havent been thinking straight and havent been able to convert leads into jobs.

4. What the hell did you do with the 5k?

I used the 4,000 to pay off a secured loan on the house. They were ruthless with their rates and becuase we had split, it needed sorting. I should have left it though. I really wish I'd left it.

 

[Matt1959]

Steve,



4. What the hell did you do with the 5k?

doesnt matter its in the past. If the facts are as this thread and hes not able to cope with what the lender will dish out if he doesnt pay, he can either borrow £5k from somewhere else (pointless as he'll then default on that and the new lender knows it so wont lend) or stop paying utility bills, mortgages and evrything else in the hope that the money from that pays the shark and the utility providers allow enough time for the debts to be paid off and if that doesnt happen bankrupct,y which is better than 2 broken legs:|

no one is gonna write a cheque for 5K to a stranger. You might have half a chance if you could use powers of persuasion face to face with someone who knew you but thats unlikely.....

 

[chalkie99]

That is not funny.


Poppy xx

It wasn't supposed to be funny - the guy said "I stupidly borrowed the 5,000 from a loan shark"

Now he is changing his story. :|

 

[Scott-Copywriter]

What sort of timescale are you looking at here? You mentioned that you could look for a job but that would take 'days'. Does that mean that you need to repay the money today? Tomorrow? The next few days?

 

[filtuh.com]

Another option is to go and see the shark and ask for an installment plan based on what you can reasonably pay (per month) and be prepared to pay for a long time.

If the shark has done this before he'll know that if you go with a monthly amount you can afford then he's more likely to get it back, but you'll pay back a lot more than £5k.

 

[papverpoppies]

doesnt matter its in the past. If the facts are as this thread and hes not able to cope with what the lender will dish out if he doesnt pay, he can either borrow £5k from somewhere else (pointless as he'll then default on that and the new lender knows it so wont lend) or stop paying utility bills, mortgages and evrything else in the hope that the money from that pays the shark and the utility providers allow enough time for the debts to be paid off and if that doesnt happen bankrupct,y which is better than 2 broken legs:|

no one is gonna write a cheque for 5K to a stranger. You might have half a chance if you could use powers of persuasion face to face with someone who knew you but thats unlikely.....

As Steve went down the path of a loan shark, then I am guessing there is no one who he could borrow from, even if talking face to face, as he would have taken that path surely.

Steve if you do not live in the house, what bills are you actually paying, I only ask, because if you are not paying them, then what chance have you of robbing Peter to pay Paul, so to speak.

Poppy xx

 

[steve.s.jones.1982]

Its Monday. I've done all of my grovelling and pleading so Monday will be pretty much it.

 

[steve.s.jones.1982]

I live in a bedsit, and I havent paid this months rent so there's no fiddling i can do unfortunately. The bedsit only costs £200 a month normally anyways.

 

[papverpoppies]

Another option is to go and see the shark and ask for an installment plan based on what you can reasonably pay (per month) and be prepared to pay for a long time.

If the shark has done this before he'll know that if you go with a monthly amount you can afford then he's more likely to get it back, but you'll pay back a lot more than £5k.

They usually take child benefit books, or anything else you claim weekly, until the debt is paid.

Is the loan overdue?

I agree, going to see him (if he will listen) is sensible, at least that way he starts to get some of his money back.

Poppy xx

 

[julie001]

Whilst I sympathise with the OP if his situation is genuine, and mean no disresepect, looking at his previous posts he was asking for 3-4k for a partner in his "creative agency" just earlier this week. Hmm.

 

[Scott-Copywriter]

Its Monday. I've done all of my grovelling and pleading so Monday will be pretty much it.

Hmm.

The only options I can think of then are:

1. Swallow your pride, contact your family, build bridges and see if they can help
2. Approach the loan shark before he can approach you and see if he can do an instalment plan. I'd even recommend offering to re-pay much more than what you owe if he isn't interested in the plan initially, as that could be much more lucrative and appealing to him. If you can comfortably re-pay a certain amount for the foreseeable future which keeps him off your back, then it's far better than nothing in my opinion (this would only be a serious last option and not something I'd recommend, but it IS an option).
3. See professional debt help, but explain the seriousness and urgency of the situation. Wasn't there a service launched not long ago which offers loans for people with poor credit ratings? The interest is very high, but at least it gives you the option.

Right now my main thought is that it would be better to owe money to a professional body instead of a loan shark who could do basically anything to you. At least with a legal loan you have the option of bankruptcy and so on.

By the way, my advice at this point would be to really continue to think hard. Use the last of the effort you have in you to really think and come up with any options. Also use forums like moneysavingexpert and see what sort of advice they can give.

 

[papverpoppies]

I live in a bedsit, and I havent paid this months rent so there's no fiddling i can do unfortunately. The bedsit only costs £200 a month normally anyways.

So, is your ex living in the house, with all of the bills being met (are you paying any of them) whilst you sit in a bedsit, waiting for a visit from the loan shark.

You are in this mess, because you wanted to keep a roof over their heads.

The house with negative equity, will not help you get out of the problem overnight, also bad time of year Autumn/Winter to try and sell - and you will take a loss anyway.

Does your ex know about the loan shark - if not you have got to tell her, this is not all your problem, you bought the house together.

I know you are seperated, but is there any chance of moving back, until the loan is paid, the rent you save would pay of the debt.

Poppy xx

 

[papverpoppies]

Whilst I sympathise with the OP if his situation is genuine, and mean no disresepect, looking at his previous posts he was asking for 3-4k for a partner in his "creative agency" just earlier this week. Hmm.

To give him the benefit of the doubt (which is rare for me) I think he just did not want to say at that time, what the real reason was.

I, hope that is the real reason.

Poppy xx

 

[steve.s.jones.1982]

Yes thats right. A few days ago, I had some work lined up for a website, and I was hoping that I could find some sort of investment for my business. None of it came to fruition so it doesnt matter anyway.

Sorry, maybe i should of said.

 

[Matt1959]

before doing anything, if I was in this situation, I'd want to have a very clear idea what would happen if....

1. I didnt pay the shark on monday
2. I offered to pay off over a longer period
3. I didnt pay at all

and I'd want to know for sure not guess...theres no clear answers to these questions on this thread so far..

 

[What If]

If you doing all this to keep a roof over your daughters head, then why the hell are you paying £200 a month on a bedsit?:| Speak to your ex and move back in (even on the sofa) that way you've got £200 a month to give to the loan shark.

This must have been going on for a while! Fisicx has made some very good points. Have you sold all your possesions?

I know you say that you're doing graphic/web design work for extra money but this won't occupy all your time. Have you applied to stack shelves, flip burgers, or clean toilets?

 

[14A]

Its Monday. I've done all of my grovelling and pleading so Monday will be pretty much it.

I was trying to be helpful at the start of this topic but talk like this helps NOBODY. I wont be made to feel I'v 'killed a man' because I wouldnt give him five grand - Rather than continously refer to the cowards way out why not try and resolve things? Iv seen a few suggestions here such as move back in the house (sofa), sell possessions, ask family members etc - All I have to say is, its Monday - The day of reckoning, are you around to answer?

Good, so that brings me on to my next point:

Yes thats right. A few days ago, I had some work lined up for a website, and I was hoping that I could find some sort of investment for my business. None of it came to fruition so it doesnt matter anyway.

Sorry, maybe i should of said.

So I assume you can create websites, am I right? Rather than pitch for free money, sell your services as someone who builds websites! You wont get 5k off one website but all these pennys make pounds. There is NO overnight solution to your problem and giving yourself 'the off' isnt the way to go, I mean, does your kiddie really need to live without a father?

 

[14A]

I'd also like to mention the following website:

http://www.stampoutsuicide.org.uk/

Excellent cause, I had arranged to help (in a small way) some years back but was unable to, so I try and plug this when I can.

WELL WORTH A READ