Debt Consolidation Loans
Consolidating your debts can make keeping on top of your monthly payments much simpler, applying to us won’t affect your credit score and
you’ll have a decision within minutes
Consolidating outstanding loans, credit card debt, and store card debt into a single loan with one manageable monthly repayment can help you manage your finances.
Loans for debt consolidation provide a single loan that pays off your outstanding creditors, leaving you with one monthly repayment at a fixed rate.
If you are considering debt consolidation, you can apply for one of our loans today using our online form. Once you finish, we will send you a conditional decision without running a hard check of your credit. If you receive a conditional approval, we can book a meeting at your nearest Everyday Loans branch.
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Our Reviews
Flexible, friendly and transparent with great customer service - at least that's what our customers say!
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How it all works
Applying for a loan with us only takes 5 minutes, you’ll receive an online decision and be invited into your local branch to finalise the agreement. We offer bad credit loans from £1,000 to £15,000 over 2-5 years, giving you the flexibility to choose the most suitable terms for your situation. We don’t charge fees & you won’t need a guarantor to be successful. Apply today to see if we can help.
All of our loans are subject to status and affordability.
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Step 1
Complete our short
application form -
Step 2
Get an initial decision
in minutes -
Step 3
Pop into your local branch
to complete your loan
Why choose everyday loans?
- Applying with us won't affect your credit score. We use Soft Searching Technology which means even if you're unsuccessful; it won't go against your credit file.
- We offer loans to those with a less than perfect credit score. You'll need to be over 18, a UK resident and be able to afford repayments.
- We're a direct lender not a broker. We'll NEVER charge you a fee to consider your application.
- We'll give you a conditional decision in just minutes.
- You can borrow from £1,000 up to £15,000 over a minimum term of 18 months up to 60 months, for almost any purpose. Loans not for business, gambling or illegal purposes. Maximum APR 299.8%
Our loans are from £1,000 to £15,000 and can be taken from 2 - 5 years which can be useful for consolidating your debts. By borrowing over a longer term, you have more time to repay the debt but, taking longer to repay your debts can mean you pay more interest overall. By speaking to our lending experts about your financial goals, we can help to make sure you’ve got a loan that’s right for you and your circumstances.
If you are struggling to manage your debts, debt consolidation can also help because it means you are no longer dealing with multiple creditors. For example, if you have a number of loans and you have an issue with payment, you will have to call and negotiate with each creditor individually. With a debt consolidation loan, you are only dealing with a single lender. This is especially helpful if you need to contact your creditor about an issue with payment or any other problem.
Tailored Local Lending
Our local branch staff are lending experts. They will guide you through any in person meetings you have. This allows us to talk about your finances with you directly rather than just relying on a credit score. In the meeting we will review how you manage your money, any financial obligations you might have and your unique personal circumstances. This allows us to offer loans to a wider variety of customers than lenders that just rely on automated credit scoring.
By the end of the meeting, we will have determined if we can provide you with a loan offer. If you have been successful in your application, one of our team members will explain the details of the loan and help you finalise your application.
Responsible Lending
At Everyday Loans, we are dedicated to following responsible lending practices. Our customers can expect us to be honest and fair as well as keep their data safe and secure.
To make sure we are following responsible lending practices, we meet with each customer to discuss the details of their potential loan. In the meeting we will review the terms of the agreement, defining each customer's obligations and assessing their financial situation. All of our data is stored securely and processed in line with UK GDPR and DPA regulations.
During the meeting, we will ask each customer about their finances. To ensure we get the most accurate information, we recommend that our customers review their finances before they attend. We also suggest doing some general reading about common loan terms like APR and credit score. Our lending experts staff our branches nationwide and are available to answer any questions from potential customers.
If a customer's situation changes we ask that they let us know. For example, if they lose their job and money is tight. In cases like this, we can work together to find alternative arrangements for managing the loan.
f you are interested in applying for one of our loans to consolidate your debts, you can fill out our online application today. To learn more about our loans, please contact your local branch.
Understanding Debt Consolidation Loans
First off, let’s take a look at what debt consolidation actually means.
If you’re in a situation where you have multiple debts, all with various APR’s and repayment dates, you might be finding it difficult to keep track and up to date with payments. Debt Consolidation simply refers to the process of taking out a secured or unsecured loan from a singular provider to pay off your existing debts, leaving you with a single repayment every month. Below are some answers to frequently asked questions around this topic:
Below are some answers to frequently asked questions around this topic:
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Q1: I don’t understand APR. What is it?
Simply put, it’s your annual percentage rate – the amount overall that you will pay for your individual loan. Let’s take a common scenario to describe it better: You’re in the market for a loan that will help you consolidate debt and you are accepted for a £5,000 amount that is paid back over one year with 15% APR. That means that in total you’ll be repaying £5,750. That’s the simplest form of it. In reality, APR will differ from this due to compound interest, which you can learn more about here. The good news is we’ll clearly break down your total repayments and APR in person when you apply with us – we make it easy to understand.
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Q2: What is a debt consolidation loan?
If you have a number of debts with different providers and are struggling to keep up with all the payments, you could consider using a loan to consolidate them. This means that you borrow the total amount of your debt from one provider, pay off your existing debts and make a singular payment once a month instead of several. A debt consolidation loan could not only make managing your finances simpler, it can also help to reduce your monthly payments as you can spread the payments over a number of years. However, do bear in mind that taking longer to pay off your loan might mean you pay more interest in the long run – our loan experts will be able to explain this to you during your appointment
You borrow enough money to pay off all your current debts and owe money to just one lender.
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Q3: Does my application change my credit rating in any way?
Not with us! For some lenders, you’ll get a mark put on your record whenever you make an application. Having a large number of these on your credit file can be seen as you struggling to get the financial assistance you need, which can be a red flag and make a lender more careful about considering and accepting an application from you. For a loan through us, however, we use our special Soft Search Technology. That means your application won’t be recorded on your credit file in a way that's visible to other lenders.
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Q4: Is a loan going to improve my credit rating?
Generally speaking, if you stay on top of your payments, it can. The actual act of taking a debt consolidation loan out doesn’t improve your score; the potential benefit lies in making all your repayments on time throughout the loan. This indicates financial responsibility and shows that, while you were struggling before, now you’re on the right track – we’ll do our best to get you there!
Our Process FAQs
Looking to learn more about Everyday Loans and our loans process? Here’s more information on how you can apply for a loan with us. It’s always worth remembering that our process is designed to be simple and straightforward, with the support of a customer account manager who provides you with the information you need.
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Q1: Can you tell me what’s required for a loan to be approved?
You need to be a UK resident, over 18 and have a bank account within the UK. Beyond that, we require that you’re employed. You may choose to apply for a loan, particularly for purposes such as consolidating debt, home improvements and more. As a responsible lender, we carry out a creditworthiness assessment . This means that we try to understand your financial circumstance to ensure that you only borrow what you can repay. If you meet the requirements, you can make an application now without damaging your credit score thanks to our soft search technology – you won’t get a mark on your credit file.
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Q2: Can you confirm if Everyday Loans is a direct lender?
Absolutely – we are! Our physical headquarters are located in lovely Bourne End (in Buckinghamshire). We specialise in helping people with poor or bad credit.
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Q3: Is it a long process to get a loan with you?
Our process is simple, easy and efficient. If your application is initially successful, you’ll receive a conditional approval. After this, we send your details over to your local branch and arrange a time for a meeting with our friendly advisor who will complete the loan for you. It’s a simple process and the money can be with you shortly after your meeting is complete.
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Q4: Are your loan quotes flexible ?
Indeed, they are! Whilst your loan term and monthly payment is fixed once the loan is booked, the loan options we can provide span anything from 18 – 60 months, we can lend from £1,000 - £15,000 and everything in between. Apply today to review your options!