Everyday loans

Melc2446

Hi.
I applied for a loan this week from the above company. They have offered me 2.5k loan, but an interest rate of 71%.

I believe I have got 14 days to cancel, but would appreciate your thoughts on the company and the loan

Cheers
Mel

CHR15

Cancel cancel cancel. no need to discuss the company, just cancel.

I also think you should cancel.

tell_it_how_it_is

You'd have to be extremely desperate and/or slightly mad to want to take that.

dealer_wins

From their site...

"Everyday Loans Limited acts as a credit broker and only introduces to Everyday Lending Limited and one other carefully selected credit broker."

You may find a broker fee being debited from your account if you have input your bank account or debit card details.

RuthnJasper

Melc2446 wrote: »

Hi.
I applied for a loan this week from the above company. They have offered me 2.5k loan, but an interest rate of 71%.

I believe I have got 14 days to cancel, but would appreciate your thoughts on the company and the loan

Cheers
Mel

Mel, whatever your situation may be, I can recommend https://www.stepchange.org - they are kind, patient and helpful, and 100% non-judgemental.


Do cancel the loan if you can. No-one deserves to be stung by a 71% loan rate.


Good luck to you - hope all turns out well. x

SnowTiger

Misleading.

http://www.everyday-loans.co.uk/:

Need a loan?

We offer unsecured personal loans up to £12,500 for almost any purpose. You do not have to be a homeowner, we offer loans to tenants too. We won't charge you a fee to consider your application. We'll give you a conditional decision in minutes. We are a direct lender, we lend you the money.

And, again, further down the page:

We are a direct lender, we lend you the money.

Then:

Everyday Loans Limited acts as a credit broker and only introduces to Everyday Lending Limited and one other carefully selected credit broker. Everyday Loans Limited may receive a payment or other benefit from the credit broker it introduces to.

So, despite what's mentioned earlier, Everyday Loans is a broker who introduces punters to a sister company or palms them off on to another broker.

Melc2446

Hi. This credit broker fee, how much would I likely be charged, but don't worry money going back. Assuming all I need to do is email them and say I wish to cancel. - but will I incur any charges

CHR15

If they are indeed a broker, they would have already taken about 70 from you.

don't email for a refund, it isn't that simple..write a letter and post it to them.

if they are a lender, phone them, email them AND write a letter to them saying you wish to cancel.