T O P
poohoop2

You’re an evil genius.. I’m sure this will bite you in ass in the future though


Small_Return6230

That's what I'm afraid of


poohoop2

I’d get any job to start paying it off asap..


Responsible_Pipe_947

Get an Immediate start job. There are loads of options these days, might not be the best work but at least it’s something. For e.g Warehouse jobs like Amazon, Royal Mail, etc. Or if you have a vehicle apply for Uber Eats/ Deliveroo. And sorry if you think this comment is pretty ignorant because I’m stating the obvious but I’m 20 years old too, I’ve been in absolute financial fuckery (over £1000 a month expenses and over 10K in debt due to loans) and I’ve some how gotten myself out of the dark financial hole. There’s always a way out but there is never an easy route unfortunately.


Small_Return6230

It's not as simple as that I'm afraid


[deleted]

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Small_Return6230

I'm only 20 and the minimum wage for me is £6.50 I also have a 2 month old daughter so having all the bills on my head and having to pay this off is very difficult


[deleted]

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ibbysquish

Even when a degree it's hard to get a job.


BankDetails1234

There's a lot of jobs around right now


shs_lw

Unemployment is 3.7% companies are begging for workers


1punch2sleep

Untrue, my mate also 20 years old just got a job there with no degree, his twin brother no degree also works there…


shadyxmcr

“untrue” i’m sorry your sample size of 2 people isn’t enough to scale the whole younger population haha


ibbysquish

Not everyone lives in a place where supply outstrips demand, for jobs.


Mynameisaw

Someone working a job already isn't evidence that it isn't difficult to get a job?


aussieflu999

Are you cleaning all the benefits you will be entitled to? Have you checked the Turn2Us or EntitledTo calculators?


Small_Return6230

I believe I'm getting what I'm entitled to at the moment but I will have another check


robtmufc

Go on Martin Lewis website, he has a calculator (I assume same thing as what was suggested above) and you input everything and it tells you what you can apply for


Nailbrain

Wearhouse work is £10+ starting with a payrise after probation in my area and we're far from the best paying area in the UK. Yeah the work is shit, it's shift work and you'll be nackered as often as not but the pay is significantly better than retail etc. Doesn't have to be amazon either look up distribution wearhouses in your area, specially for supermarkets. They also tend to have a lot of overtime so if you want to do a bit extra to dig yourself out of this hole faster, overtime is usually 1.5-2x rate.


AndyVale

Sorry if this is personal, but am I correct in understanding that for one reason or another you are doing the childcare 24/7? As I would assume that getting a job would therefore mean paying for childcare, and thus "isn't an option". If so, maybe it's worth taking a look at what free online courses you could do while baby is napping/playing? There are tons of free courses for digital marketing on things like Google Ads etc. that could qualify you for an entry-level role at a local marketing agency or something. Or various coding courses too. All of which can lead to careers with far more progression opportunities than a minimum wage job, or the labour/supermarket ones people are talking about. There are also entry-level roles in things like sales and support that don't really need any qualifications, and provide you with training. I know people who entered those fields with absolutely zero in the way of A-Levels etc. and used it as a springboard to 6-figure roles within a decade. You're talking yourself down and believing what you say. I've known quite a few people get themselves into this self-sustaining rut, it kind of makes sense in the early days (it's fucking criminal that childcare costs so much that working is barely worth it for many, I know). But it's easy to stay in that mindset and suddenly the kids have been in school for a few years and the parent can't get any decent jobs because they've barely been employed for 6-7 years, and have bought into every excuse imaginable for why they can't do XYZ. I'm not saying this is you, but it's what I've seen from people in a similar situation.


42_65_6c_6c_65_6e_64

Have you considered McDonald's. They offer better than minimum wage from what I understand. They also do management courses etc...


Arda-Imrahil

The minimum wage for you might be lower, but if you go with a larger company, they'll pay you the equivalent of the minimum wage for an older worker.


EdenRubra

Don’t really get why your only applying for minimum wage jobs?


Small_Return6230

I don't just apply to minimum wage Jobs bit unfortunately there the only one that would be more likely to accept


EdenRubra

I don’t see why. There’s a number of basic labour jobs that pay more than minimum wage among other jobs. Not sure what your status is, but don’t fall for the trap of lowering your value


Small_Return6230

As it currently stands I had a bad fall down the stairs and had my full weight 80kg land on my ankle (luckily not broken or fractured (got lucky there) but I'm not in a state where I need to rest for a month to heal before I can even think of labour jobs


PixelLight

I'm a little bit surprised tbh. I used to work in the recruitment industry and the data I used to see seemed to indicate that even minimum wage jobs didn't care how old you were and just paid you the rate for 23 and over, £9.50


Weird_Ads

Come on bro, factories pay you over £9 per hour but of course you’re that type of person that won’t do what it’s needed and just find excuses


E60LNDN

Take your time and don’t stress about it. You are very young but try to be disciplined in your spending and set a goal / target of chipping away at the debt. Dont forget that theres always a chance to sell old clothes and shoes etc on Depop and bring those extra £££’s that can help loads


backfrombedrock

It doesn't matter if you only earn minimum wage, given you have a child you're entitled to Universal income (used to be called Working Tax credit, with added Child tax credit on top) which will top you up to a decent yearly income, but you need to actually be working to receive it. I *think* given your age you have to work at least 24 hours per week which can be split between you and a partner. Best bet really would be get in touch with an advisor from Citizens Advice, and take any job regardless of the hourly rate.


ibbysquish

Back in the old days, benefits actually would've been enough to support you... Universal credit... Ain't no way can a 20 y/o mother survive with only £600 when her rent alone is probably £600


backfrombedrock

OMG Universal credit is worse!? I just gave it a search and must admit I hadn't realised housing benefits had been done away with to make way for UC. Why am I surprised. We'll be bringing back workhouses at this rate.


ibbysquish

Well be bringing back slavery at this rate.... You can't survive on £6.50 an HR... 10 hrs work can be gone in seconds on a fucking CD. (Game)


Jammiedodger71195

Where are you based? At 20 you can use youth and charm to talk yourself into a better pay job. Stop buying new things until you are back into work.


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DorothyJMan

Make sure to fax out some CVs to local businesses!


Jammiedodger71195

I got rid of the fax machine too at that job because it was outdated.


Jammiedodger71195

😂😂 I’m a millennial - the guy gave me my first job because I reminded him of his kid struggling to get her first job in her desired field. It genuinely worked for me.


Small_Return6230

Sussex and I wish I have no qualifications or any works skills if I'm honest and I don't buy anything now as its not feasible to do so


AirlineNecessary

Tesco pays 9.5 an hour, soon 10.10 and is usually pretty flexible with the hours you do


[deleted]

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Small_Return6230

I'll have a look into it


Free-Emu

How close are you to Gatwick airport? They are desperate for staff, DHL is hiring baggage loaders £12/hr


joncording12

I was in this situation at your age. 10 years on and I'm closing in on a six figure salary - still without qualifications but self taught skills (coder). For a start, get your head of that mindset ASAP. I know the difficulty first hand. For years I told myself I could never get my dream job as I didn't have a degree. For four years, I did nothing career progression wise as that's the story I told myself. I eventually bucked my ideas up and more than doubled my salary in 2 years with 2 job moves. The problem is when you really start to truly believe that you're doomed to have a minimum wage job, you'll start to pass over opportunities that could be very beneficial. Having no qualifications or hard skills does not equal minimum wage. Just how I did it briefly. When I started out I managed to get a 6 month temp job in a call centre. I was on 21k equivalent and then got made permanent at the end on a 23k salary. During my time there, I transitioned into graphic design in the magazine (after a secondment) and stayed there for 3 more years. I then used those skills to get a graphic design job elsewhere for 35k. During that time, I taught myself VBA coding and got a job in my dream sector (finance) on a 50K salary in just under a year. 4 years have gone since then and I now work in Data Science and I am loving it. I always wanted to do this (coding and finance specifically) but was convinced I'd never get there as I'm not some amazing Oxford graduate with a 1st. I'm now making almost 100K and I'm just getting started. My best advice, if I were your age again: 1. Take to Reed and check out all jobs in the 20K to 30k region Don't read job descriptions as 'I must have all these skills'. Job descriptions are shopping lists of perfect candidates and those often don't exist. Even if you hit two points, go for it. 2. Tailor your CV to each job. Don't blanket send it out. If you need to, there are CV writing services online that are about £50 and up which might be a good helping hand if you're struggling 3. Don't ever tell yourself you deserve, and can only get minimum wage. This might be a bit harsh but you got a kid. Do better than minimum wage for her. Minimum wage is no where near enough regardless of dependents let alone with one.


Small_Return6230

Thanks I appreciate the long reply and yeah your right maybe it stretches abit deeper than just my klarna


FishUK_Harp

Try the Civil Service? Recent news aside there's always vacancies. Local goverment can be good for jobs too.


Jammiedodger71195

I have messaged you, I hope that is ok


TryingToFindLeaks

Shepper, Roamler, BeMyEye.


Medford

Try a career in advertising, check out the school of communication arts 2.0. it's in London but they do run a version of the course online.


AndyVale

I was going to suggest this. There are so many free courses on things like Google Ads, Facebook+Insta Ads, Google Analytics, general digital marketing, and other stuff that you can get relatively up to speed reasonably quickly. With a few of those qualifications under your belt, you should at least be able to get an interview at a small local marketing agency or startup. It won't pay millions on day one, but the progression opportunities are far better than many of the other minimum wage, manual labour, or supermarket jobs mentioned here.


benitoog

Mc Donald’s is playing £10 an hour


Just-looking-now-

What about working at home if you don’t want to leave the baby? There’s a lot more online jobs at the moment since we needed to adapt to the pandemic


n141311

So if I understand this correctly… Merchant A - sold you good for £600 financed by Klarna Each month you pay back Klarna using Merchant B (PayPal) financed by Klarna. Are you being charged interest? If so, the interest is going to compound as you go further into debt. If it’s interest free then this cycle should in theory work until you’re unable to repay PayPal using another Klarna account


Small_Return6230

There's no interest (at the moment on klarna) but basically I spend let's say £100 to pay off klarna i use my available balance to send £100 back to me using PayPal then withdrawing it to my bank and paying off the next set of purchases it's the klarna card to I have 40 days to pay off a specific purchase.


Cam2910

So Klarna allows you to borrow £100 to send it to PayPal Interest free? That would normally be classed as a cash advance and incur interest immediately.


Small_Return6230

So I have a klarna card which I can use to purchase things interest free essentially a credit card without interest and I'm temporarily spending £100 to pay off my purchases in a loop with PayPal


Cam2910

Sounds like you have it sussed out.. the debt is just circulating between Klarna and PayPal to extend the 40days interest free period each time. Personally I'd be too worried about it backfiring to sustain it for very long.


Small_Return6230

Yes that's correct and that's why I'm worried


dontgoatsemebro

You just have to hope Klarna don't find out. As long as you don't do something stupid like post about it on one of the biggest social media sites in the world you should be in the clear...


FlappyBored

Yeah mate you’ve absolutely screwed yourself by posting here lol. Why would you do that.


Studoku

[Bom bom bom...](https://www.youtube.com/watch?v=q9RAZxNdCk8)


DebatableSpace

If I had gold, you'd have it


I_SHAG_REDHEADS

Borrow it from Klarna


Stillwindows95

Are you aware that klarna and PayPal will start credit checking for this on the 1st of June? Each time you do anything on credit with either, it will go on your credit history.


nwrnnr5

Credit files don't contain anything nearly detailed enough to find this out. Klarna could probably figure it out only internally anyway (surprised their fraud monitoring doesn't anyway, as the card is basically being used in a way very similar to money laundering), if they cared enough.


NoForever4739

What exactly could backfire though? Worst comes to worst Klarna just identify the loophole and stop it. People talking on this thread as if OP could be looking at jail time.


KaiKamakasi

I'm super curious how you managed to get a Klarna card tbh, it appears that you're unemployed and receive less than 10k a year, you can't get one without ticking all of their boxes


[deleted]

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Tomnixon1

How do you do this, does it count to your companion voucher spend?


[deleted]

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Freddocappucino

Ohhh delete this comment! I want to try it 😂


Active78

Lol deleted just in case


jrdc2021

The platinum cashback card?


Active78

I've done it with the platinum rewards card, then with the gold card when I downgraded and also done it with the free BA card. Never tried it on a cashback card but I imagine it would still work, since points can be used as cash anyway. Although mine is occasional £1-2k amounts amongst a few k in other spending so its not as obvious as just doing large paypal amounts only.


DeatH_D

Wait, do you get points when you put pay it into PayPal? Say if I paid a friend or just deposited it to my PayPal account?


Active78

You do, but again it's risky I'm not advising to do it


DeatH_D

Yea I feel like I would rather not lose my Amex account, I like the benefits. Cheers


Wakingupisdeath

What happens if tomorrow they fix the loophole? Could you make all those repayments within the allocated time frame?


fightmaxmaster

So you're borrowing from klarna to pay klarna?


Small_Return6230

Yes.


D0ugLA54891

Scammin the scammers. I am equally impressed & concerned as to how this could end though.


pkscff

OP has done too much damage - [Klarna lays off 10 percent of its workforce](https://techcrunch.com/2022/05/23/klarna-lays-off-10-of-its-workforce/)


crywankinthebath

To be fair Klarna is an excellent idea, selling credit to people who don’t understand credit at all


ponytoaster

I'd argue that's the fault of the consumer in a way, they aren't anywhere near as predatory as other similar lenders. Finance is available everywhere it's upto the end user to decide if they need the item or not. Sadly a lot of people never think about interest etc, just the monthly amount which is why you see angry people in papers with their arms folded in front of a bill


JamesTrendall

I normally buy my new computer parts from Ebuyer which uses klarna. I contact both companies and discuss my options with them. Since I've made multiple orders over the years I've managed to get the interest down from the typical 40% to just 5% as they can see I'm very little risk of missing payments. Once the terms have been agreed with klarna I then contact the other company to let them know the parts I'm buying need to be added to a certain account for the finance. Takes maybe 20 minutes but if that saves me £400 a year then I think it's worth it. No one ever trys to haggle with finance companies which I find weird. It's no different to a job. Prove you're a good customer and then ask them for benefits to remain loyal. They would be more than happy to accept a 100% certain 5% over a 99% risky 40% that requires courts, debt companies etc...


TheTechAuthor

This. I did the same with an MBNA CC around 20-years ago and got them to give me 7.9% APR \*for the life of the card\* (it's in writing too). No harm in asking card companies (that you have a good history with) what they can offer you to keep their business. The worst they can say is No.


poohoop2

Me too.. OP keep us updated


Subthehobo

It just occurred to me that this is how a lot of defi strategies work wow


delRefugio

How are Klarna scammers?


singeblanc

They're clearly predatory; their business model is targeting poor people and cashing in when they can't repay in time, to a large APR.


delRefugio

Assuming we’re talking about the ‘buy now pay later’ model they’re famous for - their business model is targeting and charging merchants. They don’t charge APR to consumers or “cash in” if they can’t pay


crywankinthebath

They’re making people who don’t understand how to utilise credit effectively think it’s normal to buy stuff they don’t need on credit? Seems a bit predatory to me


ponytoaster

That's just standard finance. All retailers offer *some kind* if finance. On the sites I see klarna as an option it's never been the selling point or a big advert luring people to overspend, usually just a small banner saying the item can be spread with their service. No different than when Currys want to offer me monthly payment on their washers, or Amazon on its devices. I'd agree that all payday loans are super predatory, same as "low credit" providers, but Klarna is just a standard lender as far as I've **personally** experienced. In that way any credit card is also predatory, surely?


stickyjam

> In that way any credit card is also predatory, surely? i dont remember the last time I bought a pair of boxers and got offered a credit card at check out.


ponytoaster

Amazon literally does this if you are on desktop, so did a bunch of retailers with associated cards/banks before. "Hey you can get X off this order and X off future orders of you sign up today for this purchase"


chongakongaa

Wait what, how is klarna a scam??!


kimsabok

thats basically what the ultra wealthy do, so congrats! but yh, probably best to try get a job asap


ebam123

Do it for 1 million quid then declare bankruptcy and run for it


Ryzzthebizz

PayPal will more than likely flag it at some point, get a job asap and get ANY job. Klarna have stated they’ll be reported failed payments soon to credit agencies.


Small_Return6230

It's not possible in my current situation and it's technically not a failed payment I'm just re using my credit and sending the money back to myself until 40 days later


Ryzzthebizz

Okay, can I ask is that £600 for actual items? I’m trying to figure out how you have a monthly payment of £100 on a £600 balance. Whenever I’ve used Klarna to buy items you only have the options to pay within 1 month/extend it by a few weeks.


Small_Return6230

So i owe £635 using the klarna card and out of the money I receive each month I borrow £100 (as I know I can get it back ) and I pay off £100 worth of transactions ie. Food or travel so that frees up £100 on the £635 I owe to klarna and with my remaining balance I'll send money to my other PayPal using my main PayPal with the klarna card as my main PayPal purchase card and I withdraw that to my bank account and I repeat until I have paid off the entire £635 and I will use PayPal to send the money back to my bank where it started off to go on bills.


Ryzzthebizz

Okay gotcha, so I’m assuming you’ve got 4-6 months before this will be fully paid off?


Small_Return6230

Yes if I actually paid the £100 a month but I have no spare income to actually reduce my debt only to extend it another month


Ryzzthebizz

Right, we’re on the same page now. Ultimately it’s going to come down to increasing income, I’m not going to grill you on that since you said you can’t work and it’s probablies a personal reason but the harsh reality is.. that £635 is going to have to come from somewhere. With the filtering through PayPal, it may last a year or it may last a month I don’t know


Small_Return6230

I agree it will have to I'm just wondering how long I can keep it up for


UpsetKoalaBear

Klarna begin reporting to credit agencies in June. You need to sort it out as soon as possible. https://www.ft.com/content/6ed86c58-7367-4da1-b4bd-9c7cac145a45 Edit: False Alarm! It’s next year. But still not good.


nwrnnr5

Can't read the article due to paywall, but working in the industry, it will be sooner than next year when BNPL accounts start showing up on credit files. It won't impact the score for a while (as Experian etc need time to build the new data into their models), but lenders will be able to see the raw data before then.


Icy-Association2592

So wait, you use one PayPal account to pay yourself to your other PayPal account using your available balance on your Klarna card? Have I got this right?


[deleted]

I'm so confused.


nwrnnr5

I think the way it works is: PayPal A gets £100 from external bank Pay £100 from PayPal A to Klarna - Klarna balance goes down £100 Pay £100 from Klarna to PayPal B - Klarna balance up £100, but this is "new debt" and therefore interest free for 40 days Pay £100 from PayPal B to PayPal A - this is so it's not immediately obvious that the same £100 is just shuttling back and forth Repeat above until the entire £635 is new debt, and you'll have the £100 sitting in PayPal A and can take it back and use it for rent/bills/essentials.


joeparni

Okay look, while everyone else here who's commented is right- pay it off, pay the debt But you haven't clarified one crucial thing that is the start of this "loop" why are you £600 in debt? Is it for general purchases and expenses? Say using your "klarna card" Next, we need more clarification, so do you have a max 600 balance? So let's say you were originally 500 in debt, you could theoretically send the remaining 100 to PayPal, then use PayPal to bring you back down to 500 - but you're not paying anything off, you're just delaying the inevitable Looking at klarnas T&Cs VERY briefly, it seems like there would be a limited amount of time to clear a balance, i.e.: you can't be in debt forever to klarna, they absolutely will come and try to collect, and again, you are just delaying the inevitable You're also not considering that klarna is likely to get hit like a ton of bricks with regulation- at which they will be reviewing every penny they are owed Pay the debt but again, how did this all start? It really matters as to whether this was a one time purchase or general expenses, because different klarna products will, have different T&Cs


TeslaMotorNFT

This some Einstein brain size stuff here. I don’t know wether to applaud or shame you


Small_Return6230

It's confusing 😂


Scouseuserman

Read that as that’s some Epstein brain size stuff there at first


throwwawayyy688

!remindme 2 months


read_r

RemindMe! 2 months


Jester_Lemon

RemindMe! 2 months "is this guy in prison yet"


ihategreenpeas

Remindme! 2 months


gater46

Just pay £101 back and in 600 months debt is cleared.


Wakingupisdeath

From July 1st Klarna will be incorporated into credit scoring. So all new transactions after that could assist or hinder your credit score dependent on how they evaluate your credit use etc. This is a new requirement so might be something to consider going forward.


_Yolk

This whole thread feels like something you’d read on r/wallstreetbets but with 10s of 1,000s of pounds and degenerate who thinks he’s cracked the system But for real, get a job. Any job. Join a temp agency and take anything. My sister did 3 months flat packing boxes for minimum wage


araed

I used to love agency work. It was bit work; a few shifts here, maybe a week there. Get on with 5/6 agencies, get them to bid against each other for your time, and you're never out of work, and if you don't like somewhere you can just fuck it off. Then HR departments realised they could outsource the hiring to agencies, everything became temp-to-perm contracts, and it was shit. Never again


theredwoman95

Temp agencies are great, especially as they'll usually pay you above minimum wage even with few qualifications - since you don't qualify for pensions or any work benefits, it's more money going directly your way. Which is perfect in this situation, OP, so start contacting local temp agencies or finding temp job ads.


scaper28

Where Robinhood gave you 2:1 leverage. So you sell options get the premium, take the leverage sell more. Infinite leverage hack. Become a millionaire or go bankrupt. Option 3 Robinhood deleted his account.


Damosane

I lost my job and spoke to Klarna customer service who froze my account until I'm back on my feet without causing a fuss..maybe you should try that ?


Small_Return6230

I would but if I do im worried that it would mean paying it all off at once when the time comes and I'm not sure I would even be able to do that


Damosane

Yeah I get you, from what I can see on my account it seems like it's frozen so when it restarts il pay my standard monthly amount each month as if it had just started when it restarts, it's definitely worth having a conversation with them. Your loophole is pretty funny though, well played!


Small_Return6230

Did they give you a time frame for when the payments would restart ?


Damosane

They told me 30 days but told me if things weren't sorted just message them again, not sure if it's going to hit a point where they say no more freezing but it seems illogical if they want to get paid. Can't give them what I don't have


nwrnnr5

The 30 day break might be the start of what's called "breathing space" - Google "HMT breathing space" and click on the gov.uk link. In which case, it won't last forever and they could start adding fees/interest and eventually default the debt. I'm not familiar with how Klarna do these things, so definitely not saying any of that is necessarily true, but just wanted you to be aware, and might be worth checking with them as well.


Small_Return6230

True


Mongolian_Hamster

This lie spiralled out of control OP hahaha


Small_Return6230

Indeed


theflashsawyer23

I used to work for a Debt Collecting Agency and Klarna was a client. Tbh they’re pretty hopeless at reclaiming their debt and often they don’t report negatively on your credit file. So basically worst case scenario is you get spammed by a debt agency with calls and letters daily until you make contact. If you were to ignore that, after a certain time frame they’d send the debt back to Klarna and they’d likely send it to a different debt collectors. Some will eventually use doorstep collectors so be careful, but in my experience it can be months and months before those steps are taken


[deleted]

They have to report on credit file from 1st July.


InsaneChef

Look at ukbeermoney to get some cash. Prolific is pretty good.


poopdeescoopoclock

You should hop onto beermoneyuk subreddit. There are at least a couple of bank switch offers that can contribute to paying it down, check out TIDE offer, chase and other various ones. In around 2 months I made around £690 purely on what I’ve mentioned above! Good luck and hopefully it gets easier for ya Message me for any of my referrals if required I used to use paypal like this for ubereats for a short time. Was tough


neversayalways

You have a baby. Your main issue is not this klarna thing. Your main issue is you have a baby and you need to get a job to support her ASAP.


audigex

They’ll probably catch on in a year or two, but you aren’t doing anything wrong and the worst case scenario is that they just stop you using it eventually Unless you’re daft enough to post about it on Reddit and draw attention to it…


kateblue22

How much debt have you built up in total, £600?


Small_Return6230

Yes


kateblue22

Have you claimed UC?


Small_Return6230

Yes as I'm not in work and I have a 2 month old daughter and my minimum wage is like £6.50 i think after bills and food , electric stuff like that I have no free income to actually reduce my debt to klarna


markdavo

Just to check: have you started claiming child benefit?


Small_Return6230

Yes but even with that incorporated I'm still left with the issue of no disposable income


JayneLut

Are you getting child benefit? Have you flagged you have a young child on your UC claim?


Small_Return6230

Yes I have


thedanofthehour

This thread is making me feel really good about my life choices and I very much fucked around and found out with my GCSEs. I had a couple of tough years in my early twenties sleeping on sofas and barely getting by. OP’s attitude towards work is absolutely atrocious and they seem to have given up before even trying. All of the great advice provided by some of these kind strangers has been met with “I’ll look into it” or “I could but *excuse*”… I feel sad that somebody so young and with a child no less can be so defeatist and not want any better for themselves. OP: Stop the fucking about and borrowing money you can’t afford and grow up.


thedanofthehour

For fucks sake do matched betting when the baby is asleep or something. If OP is smart enough to juggle two different loans against each other, they’d rake it in with matched betting.


charleeclairee

Although I see your point and can agree, OP is already hopeless with money and doesn’t want to get a job, let’s not get them into betting when there’s a baby to provide for 😬


thedanofthehour

Matched betting is not gambling. It’s a way of extracting cash out of bookie offers.


UpstairsJoke0

Stranger: "Get a job" OP: "It's not that simple"


[deleted]

Getting a job with a 2 month out will be off set by childcare costs.


Complete-Big5527

completely agree...klarna have been notified 🤣🤣


NoForever4739

Pathetic response


summerloco

But if I understood this right, where does the balance of paying through PayPal using Klarna show? E.g. if you paid £100 of the £600 through PayPal using Klarna as your bank, is there not a -£100 now sitting somewhere else?


Small_Return6230

So I initially pay 100 using money from my bank that frees up 100 on my klarna then I send money to myself using my klarna card which brings my balance to 600 and I withdraw from PayPal to my bank and repeat then finally withdraw to my bank to pay actual bills


summerloco

You’ve done well to find this loophole, I’m going to say it. My gut tells me that you’d get away with this for a while and it’s clever. However, if I were you I would try being proactive and emailing or phoning Klarna telling them about your situation if you don’t think you can realistically get a job anytime soon to pay it. If it eventually drags out to the point they really start chasing you for payment, you look much better if you’ve reached out to them first and also tell them about the loophole you found, they might even be grateful. It might be that you can set up a super small but long term payment plan that’s actually manageable with them which is interest free.


Nailbrain

I might be wrong but if I understand correctly he's not extending a debt he's constantly making payments on his debt total and then going into new debt. So if we compare this to a bank account with an overdraft and a creditcard from the same bank. He has an account with an "overdraft" of £600 maxed out (Klarna) . He "borrows" £100 of his bill money, puts it onto his credit card (PayPal) and pays off the overdraft by 100 now making his debt 500. He then uses the overdraft to "pay" himself 100 to replace the bill money. He's not looping debt he's constant paying it off and replacing it. I don't know but I'm also willing to bet PayPal "powered by" Klarna just means they use thier software API to handle the backend comms, the PayPal account is probably still separate to the Klarna account.


Small_Return6230

>It might be that you can set up a super small but long term payment plan that’s actually manageable with them which is interest free. This would be the best outcome >If it eventually drags out to the point they really start chasing you for payment, And this is what I'm worried about its a 50/50 chance


araed

Okay so, you need to ring them. When you ring them, you need to tell them that the debt you're in is currently causing you financial distress, as you're unemployed due to an injury, and have a two month old daughter. You also need to tell them that the debt is causing you stress, and negatively affecting your mental health. First line of managing credit is to always speak to the companies. 99 times out of a hundred they want to work with you; they'll accept some absurdly low payments to keep you working with them. My record was paying a pound off a 50 quid debt for 50 months. They want you to pay them back, and they need you to be alive and healthy to do so. They'll only start getting nasty when it's to the tune of tens of thousands, usually, because that's when the rules change. For 600, they might even totally write it off (although I highly doubt it)


Lit-Up

**klarna.** sounds so cute until you get into debt and fuck up your credit rating 🤷🏻‍♂️


[deleted]

Can you do any jobs for anyone? Family or friends? Like cleaning etc? Babysitting? You could earn that 600 slowly over a few months. Selling baby clothes as they grow out of it? Paying off the debt and restarting a new one each month doesn’t seem to break any of their rules so could go on a while but if you can knock it down a little each time it would help. Or start a pot of cash in your home. Try and build that up for if and when they demand it back


BountyBobIsBack

This is know as cross-firing and was often seen when cheques were a main form of payment. It is seen as fraudulent behaviour by Banks as it can manipulate credit scoring. It will get picked up by the AML systems and could result in formal demand of payment, delinquency markers being placed on your credit file. Net result your struggle to obtain credit in the future. Stop


bradley_minns

Can't go tits up. That's the kind of thinking we like over at W S B. You have a bright future.


ClassicFun2175

Why don't you just get a job, any job. Even just a retail one. £600 is not a huge debt, so getting a job for the short term will allow you to pay it back in full before anyone finds out about the loophole you're using. I assume at some point they'll realise so you don't want to rely on doing this for fhe long term.


AgeSerious

The issue preventing them from getting a job is likely that the more they work the less UC/benefits they get so it won’t actually increase their income. Plus she likely has the additional issue of childcare which with a 2 month old will be difficult. The way the benefits system works makes it so transitioning off them is extremely difficult unless you don’t have kids or have enough childcare, or you manage to get a decent paying job fast. (Speaking from experience as someone who grew up in a household funded by both benefits and a single working parent :))))


Hot_Headed

But it works out in a gradual way, so working gets you better off than universal credit alone, think of it as working nets you an extra 45p on every £, rather than every £1 you earn reduces your benefit by 55p. The extra money you get from this can really help. This doesn’t even apply until a certain point, and you and extra benefits and £ for those with children.. Someone else can look after the child whilst op is working. The harsh reality is that is OP wants to escape this debt trap then they have to work… there are lots of WFH jobs available (literally just look and apply to them, and if you are responsive and nice to the benefits office then they can actually help you. And maybe think harder before you spend £600 on klarna (clothes shopping?) next time when you have a child to feed? That or you can make excuses 🤷‍♂️ https://www.gov.uk/government/publications/universal-credit-work-allowances/universal-credit-work-allowances https://www.gov.uk/universal-credit/how-your-earnings-affect-your-payments


WannaMoove

Yeah, stop spending money you don't have.


[deleted]

I understood that the interest free period ends after a short time and then you start paying interest?


dramaticirony

I'd love to see how long you could keep this going.


dancesnitch

Paying debt with debt is bad for your credit score.


Jayes123

I’ve been doing it for a couple of years, I’m pretty sure it’s not illegal but will go against 99% of companies T&C’s so you could get your accounts suspended/shut down and then they would be after payment immediately.


CurrencyLanky1740

You should be alright. Plus you’re not really scamming anyone, you’ve still gotta pay the balance eventually.


Small_Return6230

That was my thinking obviously for the time being


thewallerus

If you can't work I would look at matched betting. You can make a few hundred quid off signup offers, then just do it again in your partners name. I would use that money to pay off the debt. Use a site like OddsMonkey you get a free trial to show you the ropes. You obviously don't have £100 "spare" to use but do it at a time where you have a week before your next set of bills are due to be paid out and use some of the bill money on it. Then withdraw once its needed, take in account it could take 3 working days to withdraw from certain bookies.


UnclaimedClock

I don’t have any advice for you but this is a perfect example for everyone else why you should have an emergency fund 👍


Crissaegrym

Or not shop with this “buy now pay later” unless it is something absolutely necessary like a fridge or something. Cloth, TV, sofa, these are not necessary.


UnclaimedClock

Yeah I don’t want to ask what it’s for but if you have an emergency fund and your fridge breaks, you take the money out of your emergency fund and don’t finance it. So having an emergency fund solves the issue 😀


Crissaegrym

That is also true. My point was more hoping that the OP didn’t use that to buy luxury items. Anything luxury you should aim to buy it with cash and not with credit.


Cascade2244

As soon as they find out you will get charged cumulative interest for however long you ha e been doing it and probably have your account frozen on future purchases until paid in full at which point they will close it. They will find out sooner or later, no way to tell when, but it will happen. This is how people get in trouble with credit, whatever your situation is you need a job, immediately and you need to pay it off ASAP. No excuses


JoshS121199

You are just dumb ngl


Aplayfulcamel

Possibly be credit fraud


Small_Return6230

I'm not sure how it could be credit fraud as I'm not technically doing anything illegal but maybe it could violate some agreement somewhere


Icy-Association2592

I'm sure there's a T&C somewhere that PayPal won't allow you to pay yourself but they're very lax at allowing you to have second accounts.


NoForever4739

Don’t listen to the doommongerers on this thread. Worst that will happen is Klarna catch on and stop you doing it. Until that happens you’re good. This sub hates anyone getting one up on banks or doing anything that is not covered by their precious flowchart.


BaldHeadSam

Why do you have a 2 month old daughter at 20 when you’re unable to support her?


Small_Return6230

Because unforseen circumstances happen


[deleted]

They might've been able to at conception.


sausagedownatrain

It's fine to think it mate but the only reason to comment that is to try and make OP feel bad.


awua1

This is smart and useful, subject to self control and responsible borrowing. !thanks


endurolad

Just keep it going forever. As time goes on - the size of the interest free debt will remain the same, but the cash advance will increase with inflation year on year. Gradually the debt will be settled without you paying in a penny!


DealerEast8797

I Mean your concerned about scamming karma n having to pay them back...the government dont give a shit about scamming us n payin us back ..be a free spirit lol


dilsz

OP I found a similar loophole with Amex and Skrill and then they removed Amex as a supported vendor after 2 years. Either way normally this type of stuff doesn’t end well