Loans for newcomers?

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Hi, I'm a newcomer, moved into melb from overseas 2 mths ago. working as a network engg for the past 1 mth as an IT contractor in an ongoing contract. get paid around 1200 a week. I'm having so much trouble with getting a loan or a credit card because i don't have over 2 or 3 months in my job. does anyone know if there is any hope at all.

My wife and daughter are overseas, and if i want to get them over, we all have PR's, i was told thats not possible because the loan has to be used only for me.

can't i use it for my own family? then what is the purpose of a loan? i just don't get it. and apart from those 6 reasons that they list, can't people just get loans based on their eligibility and have the freedom to do what they want with it, because they are paying back, and have the capacity to pay back?

I'm desperate to get my family over. can someone please advise.

i tried all these payday loans and lenders. none help.

Loans for newcomers?

Several problems are here. First you are a contract worker which means that your job has a likelyhood of ending at a certain period of time. Am i going to give you a loan for 5yrs when your contract and/or verification of income only states you are guaranteed a job and an income for 1 month. Probably not.

Second, Where is my collateral for the loan? No home no car ? HMMMMM that's quite a risk. Who said you won't disappear on me when I give you the money. The loan is based on your good faith. Sometimes that isn't good enough. The bank looks at the worse case scenario. IIf we accept to give this person a loan what could go wrong.

Third, PR"S? what is that? Paragraph 2 isn't clear to me. Just a guess but looks like whoever you applied with for a loan is telling you in secret code( might as well be a megaphone) you need to change your loan purpose to one that is directed at you. I could be wrong. Example, I need $5,000 to pursue a Master's in engineering. Then use it for your family.

Lastly, maybe to find a co-signer and people a very sensitive about that because if you don't pay it couldruin someones credit.

Oh yeah avoid pay day loans because their APR comes out to like 300%. You'll never pay it off.

Loans for newcomers?

I found some good info here.

Loans for newcomers?

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