needing $5000 loan. Where would i get the best deal.
I Need to Borrow $5000
hsk on 21/06/2015 - 15:36
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hsk I don't know your situation but it sounds like you're in a rough patch so I hope everything ends up well for you.
As for the loan, if you're student, many universities will give you interest free loans if you have a good reason for needing money, especially if you can say it's affecting your ability to studyassuming you have worked previously, can you ask the government to get your super early under the special circumstances ? I've read it somewhere but can't be too certain.
"Actually am borrowing it to help my family out of a tight spot just was asking for some OZbargain advice so I make an informed decision."
OP is borrowing to give to his family. Superannuation early condition of release on the basis of severe financial hardship would not allow this. Good idea though
Do you really need a loan or do you think you need a loan? Generally you need the money for something and maybe you can achieve the same result without borrowing money.
Are you trying to pay someone else with a loan? Have you tried speaking to that other person/org to arrange a payment plan?
If it's for a purchase or service have you looked into ways for finance it directly or are grants available to you?If you still find that you need a loan, see if you can get help through a community finance organisation and avoid the sharks. They can also help you think outside the box for solutions.
Check out http://communityfinanceportal.org.au/One of the reasons I try to save so much is to prevent myself from needing to be subjected to the mercies of capital holders.
agree, its a good feeling knowing there is a reserve there, not then needing to bow down to the lords. sith lords.
I haven't looked at this, my understanding is that you can create a cause, and have people donate to you. https://www.causes.com/
i'll hook you up bro, when can you pay me back?
Whatever interest you're charging him, I'll pay quadruple.
First you'll need to make 9,999 clones of yourself.
Heres some helpful links:
InfoChoice website is great - http://www.infochoice.com.au/personal-loans/loan-interest-ra…
This one is good for low income earners - http://goodshepherdmicrofinance.org.au/which-loan-right-me
let's hope that you are not borrowing the $5000 to put on a red.
The $5000 isn't for 'essential goods and services' like a fridge, washing machine etc is it?
Otherwise:
WHAT IS NILS?
The No Interest Loan Scheme (NILS) provides individuals and families on low incomes with access to safe, fair and affordable credit.
Loan amounts are between $300 – $1,200 for essential goods and services such as fridges, washing machines or car repairs.
Loans are not for cash. Repayments are set up at an affordable amount over 12 – 18 months.
Probably not what you want in this situation, but just in case.
Good luck OP.
Whatever it be, do Not go to loan sharks, like payday loan, cash converters, nimble, etc. rather family, friend or bank.
thanks everyone I am really appreciating your thoughts and suggestions, I am a single working mother of two primary school childdren, this loan is for my brother who has managed to make some poor decisions and needs for find $ to pay a solicitor to get him out of trouble. I work part time and do not fit into the low income bracket so can not ask centrelink, will look to see if I fit into some of the other suggestions. You have been very helpful and as always I learn so much when I come and ask questions here thanks
If its regarding legal matters this option looks pretty cool. Its a legal aid grant for either a legal aid lawyer or if you have your own lawyer legal aid can pay them with the grant so seems pretty cool. Heres the link - http://www.legalaid.nsw.gov.au/get-legal-help/applying-for-l…
you should crowd fund it baby
just nimble it :p
Westpac personal loan 13% per annum: westpac.com.au/flexi4
Edit: tried flexi2 and it gives 10.49% pa instead.What did you end up doing OP?
Hi, I have put this on hold for the moment, as I said in the beginning this was for family, and they have been told the will not need it till they have a hearing date. That looks like it will be October or November. So at the moment, I have taken all your great advice and am saving some $ so when I do need to have the $5000 I will already have some of my own to contribute. thanks guys this site is amazing.
Oh wow so it was for a court case? So you are a low income person, lending money you can't afford to lend to someone who can't afford to pay you back and is on the wrong end of the law? Am I the only one who sees a problem with this?
CBA Personal Loan
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Please don't. Do not borrow money if you don't need it. Do not borrow money to give it away.
Seriously. When you need the money for yourself or your mum, no one will help you and you will be stuck with a debt.
I know this sounds harsh, but it's well meant.