I have been hit with a load of bills, and I was wondering if it was possible to get a short terms emergency loans here in Geneva/Switzerland? A bit like a pay day loan or something.

Does anyone know how I can get some quick funding? I will explore a short terms overdraft with my bank but I was wondering what other funding options exists in Switzerland.

Thanks!

TheTeaBoy

You might have an overdraft already. I know we do and we didn't ask/apply for it.

Try asking the billing company if you can pay by installments. You can also wait until after the reminder letters arrive. That may cost you charges though.

I don't think they really exist here....sorry. As for overdraft, they are not so easy, espeicaly if you want to arrange at short notice. Have you any securities to offer, that will be one of the first questions.

Ask your banker for advice. That's a nice way to establish a rapport with the people who can help you with your finances.

- good advice.

You can normally get an overdraft equal to one month's pay, take your employment contract with you when you go to your bank.

You can also insist on paying the large bills over 6 months. Don't wait until the reminders come through the door, phone them next week and offer them 6 payments. Then come up with a personal budget, I always receive more bills in December and June. The Post Finance offer a high interest account from which you can only withdraw cash, without a penalty, 6 times per year.

There are offers in 20 minuten (daily free news paper) that will give you quick loans but the interest is high. That might get you out of the hole. I personally do not recommend this way but if you are desperate, do it once and get your finances in order.

Technicaly you cannot, a bill is due when it is due and it is your responsibilty. Most creditors will allow you to make monthly payments but you really shgould agree in advance. It is not really fair to make a supplier wait for 6 months for complete payment if it wasn't agreed and it ruins any cash flow planning.

Most companies will allow a monthly payment scheme but sometime sthey inist on a higher price to cover the financing and higher risk.

If you are repaying your debt regularly and promptly your creditors cannot take further action against you. If they insist on extra payments it is always better than taking a loan, personally I don't think they can insist on more than bank interest. If your German is up to it, have a a talk with the cantonal Office des poursuites (Betreibungsamt). With today's morals most companies are very pleased to get any payment at all and not have another default. http://tel.local.ch/de/d/Geneve/1204...e&where=Geneva

Why don't you ask your employer for a payment in advance?

Do not take those loans! They are very dangerous!

Go to the bank, talk to your creditors. Get advice to make a budget / repayment plan.

Online pawnbroking - you get cash in 24 hours secured by valuables which you then buy back.

I almost invested in these guys in my former life: http://www.borro.com/

When I looked I thought a decent bloke and a professional set-up.

No, a billis due at a certain time, any time over this which is not previously agreed with your creditor can be considered as a default. As soon as a bill is overdue you can open a procedure (office de poursuites) against your debtor with no further notice. there is absolutely no obligation to provide reminderes or anything else, i suggest you check out the Code des Obligations.

If we follow your theory, i could pay a Chf 1000.-- bill at the rate of Chf 10.-- per week and according to you this is legal !

They can impose on any interst rate they wish up to a maximum of 15% which is the maximum allowed in Switzerland as per the constitution.

If you negotiate credit terms beforehand the interest is usually quite low, 3-4% but if you negotiate afterwards you can be sure it will be higher to compensate the disruption of cash flow, the finance charge, the higher risk.

With today morals....if you order something then you should pay for it,. If you use your mobile phone, pay for it.

I had no problem contacting our health insurance company and organising to spread a missed bill over several months.

I also had no problem solving a skipped bill for swisscom, but it had to be within a certain date...

Being paid monthly and holding invoices over to the following month calls for some serious budgeting and paying of bills each month...

I run a spreadsheet with all the items listed, by the month, and we pay all our bills in the month they are due, but try to build up a little extra (like paying the health insurance 1-2 months ahead) - and there are definitely some months that are worse than others...

I put all the invoices with orange slips attached into a plastic folder and keep a 'running sheet' of them which I put at the front of the folder...they definitely add up fast!

Privat Credit with Migros Bank

only 5.9%

http://www.migrosbank.ch/de/Private/...it/default.htm

I dont think you will find it cheaper anywhere.

forgot to add...ZKB and Postfinance both set up automatic overdraft on the account where our salaries are paid - to the amount of 50% of the monthly average salary of the past three months, or something like that...

If you are going to ask your creditor(s) to let you spread payments over several months, do it now, and propose a plan of action. Tell them exactly what you would like to do (pay X amount per month, or pay over Y months). Be proactive; do not wait until the bill is overdue.

I am not going to start a long theoretical argument, but if you receive a demand for payment from the Office des Poursuites or Betreibungsamt, and reply with the words "Rechtsanspruch" (Accepting the debt is correct) there will be no further interest charged, and you will be able to offer a repayment plan. If you do not do this the debt will go before a judge whom can make a payment order against the salary (Lohnfandung)

Thus the creditor could go to the court and pay the CHF 70 fee (Which I did as I am persuing someone for CHF 1,000,-- ) and end up with no payment order. And so in effect you can offer to pay off CHF 1,000 at CHF 10 per month, although CHF 100 would be more acceptable.

Did you happen to look at the OP's occupation.......

If you're on 13 payments, they may advance you the 13th salary now.