Help everyday loans, advice needed

YorkshireBoy

DCFC79 wrote: »

I thought that was a bit odd as well.

Seems to meet the OP's objective (appropriately the same as the lender's) of "one easy payment".

gb12345

Robw1986 wrote: »

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%

So you had 7000 on the credit cards, for which you were payinbg 18% APR (not 2 x 18%). You now have £7000 on a loan that you are paying 23.9% APR. You will be paying more in interest each month.

YorkshireBoy

Robw1986 wrote: »

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%

Doesn't matter how much you owe, it's the cost of servicing the debt you should be concentrating on. You shouldn't have shifted the 2 x 18% APR debts...just the 2 higher rate ones. But that would have left you dealing with 3 debts, not the single one you have now.

It's going to cost you more than it could/should have.

Robw1986

Ok thanks for your help guys , will cancel loan on monday when they open as have 14 days to cancel from today. I was thinking something wasnt quite right about today hence whynive posted on here. When was in office the guy dealing with me was running backwards and forwards along the corridor, and had to put all sorts of funny details you wouldnt normally give on a loan appilcation.