to take out a wonga type loan

[someonestolemynick]

I'm self-employed, currently just getting by.

Anyway, my phone broke (physical damage, not within warranty. I can't afford the whole amount at once, but could save and have the cash in about a couple of weeks.

Urgently need my phone back to communicate with clients and the approved repair company, will not fix my phone before I have paid in full.

Am I setting myself up for the loan sharks? Really don't know what else to do, my bank won't give me an overdraft as I don't earn enough atm.

HELP.

yes, this is a loan shark. Check out the interest rates!

will a £10 PAYG phone not do the job for now?

Can you use a Credit Union instead?

What about a credit card? Even the higher interest rate ones tend to be about 27% APR rather than around 3000% with Wonga

Think outside the box. Go to your bank and ask for an authorised overdraft. Use a different repair place. Friends and family.

Google the many studies that have been done on how these things work. Average person who uses them spends 8 of the next 12 months in debt, just for one example.

Look on money saving expert for advice.

Your sim card still works? Can you ask on facebook if anyone has an old phone they could lend you?

Can you ask around? People usually have a spare phone hanging about in a drawer somewhere. Is the SIM card in your current phone still working? Hell if you pay for the postage I have a blackberry hanging around in a drawer that works, you're welcome to it. Don't fall into the payday loan trap, I know a ten year old that disapproves of it.

Not at all if youre sensible. only borrow the minimum you need for the minimum amount of time you can and type Wonga promo code into google to find the fee waiver code(which knocks about £6 off)

I have used them many a time when completely broke, only ever borrowing amounts up to £50, usually £20-30. when I had no one else I could ask for money it was a godsend. borrowing more than you need and longer than you need it/extending the load is the sure fire way to get into difficulty, for use in emergencies only is my mantra

£10 payg phone. Am hoping I find a good dumb phone soon with mn help... Never has contact and I have own business payg is so much cheaper..

I don't have a credit card, I have not looked into it) but there would be a wait of a few weeks (or am I wrong?) until I could actually use it by which tine I would have hopefully saved up for one.

Credit Union might be an idea, would have to look into that.

Meeting of minds there Bernie.

I've used one, you can find codes online to waver the £5.50 admin fee which reduces it to just the interest however last time I did it I paid no interest for some reason just the amount back I borrowed.

If you can pay it back in time and nobody else can lend you the money then I'd say why not I think your interest is 10% of the amount you borrowed everyday you borrow it

My sim works alright, but is a new..ish nano sim...which doesn't work in most old phones. Otherwise I would have used my pre-upgrade phone.

don't do it. APR is like 5000%. Get a cheap ass phone, you can pick up the most basic for under a tenner.

sim converter.

DON'T DO IT. Please don't give these morally bankrupt cretins a single penny of your money. Buy a shit phone in the interim and then keep it for any future such emergencies.

what's a sim converter?

ask your bank to let you have an overdraft

its basically a normal sized sim but you can slide the mini sims into it so it fits in any phone. You can get them free from most phone companies, and probably for very little in those slightly dodgy phone unlocking shops etc.

get a cheap phone and save up, wonga-esqe loans are a bad idea. if you cant afford it now how will you be able to afford it plus the savage interest rate on top

Im pretty sure a sim converter is a little holder the sim goes in so it can work in another phone, (your old phone) they cost peanuts on eBay - if its the thing Im thinking of!

Google says they sell them in Asda

Sim converters are 4.99 in car phone warehouse. Stay away from wonga type of loans. Even if you pay the loan back on time it will still have a negative effect on your credit rating.

Carphone Warhouse will sell you a nanosim adapter for a fiver - I assume you could get one for less on a market stall.