Money Lenders?

flynnc8

Hey all,

i was just wondering if anyone knew of a private money lenders on the southside.
I used to borrow from a company called Provident Finance on the Northside but they don't cover my area now.

Any information would be much appreciated!!!

Degsy

flynnc8 wrote: »

Hey all,

i was just wondering if anyone knew of a private money lenders on the southside.
I used to borrow from a company called Provident Finance on the Northside but they don't cover my area now.

Any information would be much appreciated!!!

You cant be that desperate that you need to borrow from those vultures.
Have you tried a credit union account?

admiralofthefleet

try as hard as you can not to borrow off them. try the money advice and budgeting service instead

gollyitsolly

admiralofthefleet wrote: »

try as hard as you can not to borrow off them. try the money advice and budgeting service instead

Hey, I remember the recession of the 70s/80s and my mother had to go to moneylenders.When the bank,credit union,friends,family cant/wont give you a loan and the bailiffs are at the door and youre kids are looking at you with empty stomachs, you have no choice. But first sell what you can. Your car,jewellery,electrical stuff..etc. Keep them as a last resort.

Táck

are the provident that bad? i know someone who does collections for them. he's a gent. not a vulture. sounds like he has a nice relationship with most of his clients as well. their all regulars.

phasers

My family use provident and they're grand. Interest rate is something like 30% though, so avoid if you can

flynnc8

As I said I used provident when I lived on the northside, never had an issue with them and the guy who collected my repayments every week was lovely..

I just need a small quick loan and i kinow thier the best in this case. I'm also aware of the 30% interest rate..

Táck

well why dont you ring and ask. surely they have someone in your area and if you've got a loan before and been a good boy/girl then they'll be willing to go that extra mile to meet you.

i was speaking to the lender i know and he says their busier then ever.

Thomas_S_Hunterson

I assume the 30% is yearly?

Is it 30% flat-rate or 30% effective?

/edit: Why I ask is, say you borrow 10,000 to be repaid over 52 weeks.

At 30% effective, you pay €219.19 per week.

At 30% flat rate, you pay €250 per week which is equivalent to an effective interest rate of 71.3%

Táck

afaik its 30% regardless. well, i didnt know what it was now but about 4 years ago if memory serves me right it was 30% then as well...

AnonoBoy

flynnc8 wrote: »

never had an issue with them and the guy who collected my repayments every week was lovely..

Of course he was lovely - he was getting 30% interest off you on the loan. :rolleyes:

See how lovely he is when you can't make the repayments though.

Thomas_S_Hunterson

OK perhaps it's a different company but you better be very sure of what you're getting yourself into:
http://www.providentpersonalcredit.com/

254.45% APR?

phasers

Well basically the way it's worked for us is you get a €1000 loan and pay it back over 26 weeks in installments of €50. you end up paying back €1300. 30%.
Although it may be different fir bigger/smaller loans

generally the people are nice, once my dad didn't have the cash so they arranged for him to pay €100 next week instead. One fella we had was a nutter though, he used to talk to himself and everything.

I hope I don't sound like I'm advertising the company or anything, seriously avoid all forms of moneylenders if you can, I'm always telling my dad this, but provident are an ok bunch.

Also seriously, make sure you get a manageable loan. Not directing this at you OP as you obviously have experience, but anyone that happens to read this.

Táck

AnonoBoy wrote: »

Of course he was lovely - he was getting 30% interest off you on the loan. :rolleyes:

See how lovely he is when you can't make the repayments though.

he gets payed 10% of the overall loan afaik.

the guy i know is old, retired, has grankids and does a bit of this as he's been doing it for years. if he didnt get his money i cant imagine he'd be wiping the rust off his knuckle duster.

Thomas_S_Hunterson

phasers wrote: »

Well basically the way it's worked for us is you get a €1000 loan and pay it back over 26 weeks in installments of €50. you end up paying back €1300. 30%.
Although it may be different fir bigger/smaller loans

This particular example is equivalent to an APR of 187.22135%

People say credit cards are a rip-off and they only charge 15-20%

I know APR is just a number but it is a very useful way to compare financial products. You're paying a serious premium for finance because it's high risk. At the end of the day, I guess, on a practical level, the repayments are going to be most important for you.

If this is the only source of finance available to you, make damn sure you can afford the repayments OP. And don't miss them.

CianRyan

Degsy wrote: »

You cant be that desperate that you need to borrow from those vultures.

Easy on there, that's my dad you're talking about.
He's nothing but a gent, i'll have you know.

I was actually going to suggest Provident, sorry OP.

Jenniferhough

Hi

I am looking for any experiences with money lenders - licensed or otherwise - for a research project.

If anyone has any stories of bad practices I would be very interested to hear them.


J

phasers

So you want any experiences, and then specifically ask for bad ones?
Quite a biased project imo

geurrp the yard

Jenniferhough wrote: »

Hi

I am looking for any experiences with money lenders - licensed or otherwise - for a research project.

If anyone has any stories of bad practices I would be very interested to hear them.


J

Give Martin foley a ring on 1800gangster, he'd love to hear from ya.

footballcrazy

Hi Lads, Lokking to get a quick loan before the weekend is up, Is this possible? Have a job and a decent monthly income so no probs paying it back. I know its not the right solution but Cant get a quick bank loan or a loan from anywhere else (Believe me)

Could someone give me contact details to me? I Live in Kildare (Near Lucan)

Cheers!

Salvelinus

Just break your own legs.

kumate_champ07

footballcrazy wrote: »

Hi Lads, Lokking to get a quick loan before the weekend is up, Is this possible? Have a job and a decent monthly income so no probs paying it back. I know its not the right solution but Cant get a quick bank loan or a loan from anywhere else (Believe me)

Could someone give me contact details to me? I Live in Kildare (Near Lucan)

Cheers!

I was stuck for cash a couple of years ago, needed a couple of hundred. went to cashconverters in ballyfermot and 'buy back' pawned some stuff. if they give u 200 for your stuff i think u pay back 250 to get it back but if u take extra time the interest goes up or you lose the items as they will sell them, or u can keep paying the interest till u pay off the full amount.