Help everyday loans, advice needed

Robw1986

Hi guys

I recently signed a loan agreement with everyday loans as no one would touch me as i have a fair bit of credit but was looking to consolidate. I agreed to a loan to consolidate four different things which had apr rates of 18%, 18%, 29.9%, and 34.9%. With everyday loans they agreed an apr rate of 23.9 so will only be paying one lot of interest rather than a few. I wondered if anyone has dealt with them before, and could maybe shed som light on the situation. Im aware everyday loans arent for people with good credit, but unfortaunatly this was the only option avaliable.

DCFC79

What's the Apr on a loan like this ?

Consolidation rarely works so can you make it work ?

Fishingtime

23.9
It is said in the post

Apples2

Is that fixed or variable?

Robw1986

It says variable but if bank of england changes base rate then could increase interest payments 3%

BugsyBrowne

Signed an agreement with everyday loans at 23% bollo*ks

MJ41

Why would you transfer 2 loans with 18% apr to 23.9% - you'll be paying out more in interest!!

gb12345

Robw1986 wrote: »

I agreed to a loan to consolidate four different things which had apr rates of 18%, 18%, 29.9%, and 34.9%. With everyday loans they agreed an apr rate of 23.9

Major maths fail here.

You refinanced credit at 18% to credit at 23.9%

DCFC79

yoxford2008 wrote: »

23.9
It is said in the post

I'm reading the thread on a tablet so I miss bits out, I do apologise.

DCFC79

gb12345 wrote: »

Major maths fail here.

You refinanced credit at 18% to credit at 23.9%

I thought that was a bit odd as well.

Robw1986

Does it not make sense if i have two £3500 credit cards totalling £7000 to just have one lot of interest rather than two set of 18%